Click here to read the full report by ECOFYS
Report commissioned by Climate Action Network Europe and Friends of the Earth Europe
More about the study:
Standard studies on the financial benefits of energy savings simply look at the money that businesses and consumers no longer need to spend on energy.
According to ECOFYS, if the EU meets its 20% by 2020 savings target, these ‘direct’ net savings would add up to €107bn per year.
But there is more to it than that. ECOFYS’s research shows that for every euro saved by using less energy, businesses and consumers would save another euro. Why? Because energy savings push down energy prices. So the energy that is used would cost less.
This means over €200bn net savings per year across the EU. Just to be clear: that’s money saved after investment costs have been covered
But only if the draft Energy Efficiency Directive is made strong enough to deliver the 20% savings target.
It is time for the EU Council to support a deal that adds up.
Posted by Brook Riley (Friends of the Earth Europe) and Erica Hope (Climate Action Network Europe)