Post-COVID-19: New Era for Energy Efficiency Investments & Economy Recovery Plans
COVID-19 pandemic has created the biggest global crisis of the latest years, creating domino reaction to health system, economies and societies around the world. The severe effects from the COVID-19 are not temporary and in combination with the threat posed by climate change, plans should be drawn up in effort to counter the damage created.
Discussions are currently taking place in order to explore how Energy Efficiency (EE) would play a vital role for governments towards their economic recovery plans, since EE is considered to be proven a win-win situation.
The International Energy Agency (IEA) points out that targeted EE investments could boost economies by creating jobs and bring long-term benefits for consumers, business and the environment, in particular, lower energy bills, reduced greenhouse gas emissions and improvements in energy systems.
Three categories of EE investments are proposed to be investigated by governments and included in their economic recovery plans; buildings (construction and energy efficiency renovation), technology replacement by energy efficient models, large scale infrastructure projects. Hence, it is reckoned that EE projects could play a crucial role in transitioning to the future economy, where sustainable growth will be the centre of attention.