Energy Efficiency and Conservation

The cheapest and quickest way we can reduce our energy costs and consumption is to reduce waste by being aware of and making simple behavioural changes, which often do not affect our quality of life. Many savings can be achieved by simply turning off unnecessary appliances, lights, closing/opening doors and windows to heat/cool the house, etc. We can also install and use higher efficiency electrical appliances, lights, heating and cooling. While some of these may seem more expensive, often the cost of electricity is many times more than the cost of the device, so a small increase in up-front cost can save more over the life of the product.

Conserving energy also has the added benefit of reducing our greenhouse gas emissions. It is estimated that by 2020, over 80 million tonnes of carbon emissions could be saved through energy-efficiency with positive economic returns. [1]

Voluntary schemes, such as reporting of Energy Efficiency Opportunities and grants, are currently used to promote energy efficiency in Australia. Improved standards for energy efficiency would provide a much stronger foundation for change. For example, the Australian standards for energy efficient buildings are very low compared to many developed countries around the world. Through better insulation and design principles the economic and environmental costs of heating and cooling could be dramatically decreased. The increasing cost of energy, however, may be the most powerful incentive towards change for businesses and households alike.

1. McKinsey and Co. An Australian cost curve for Greenhouse Gas reduction, 2008.