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The Economics of Energy Efficiency – Why It Makes Sense For Canada

The Economics of Energy Efficiency – Why It Makes Sense For Canada. Presentation to the Canadian Energy Efficiency Alliance. Carol Buckley Director General Office of Energy Efficiency April 12, 2013. Purpose of the presentation. Outline a global context

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The Economics of Energy Efficiency – Why It Makes Sense For Canada

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  1. The Economics of Energy Efficiency – Why It Makes Sense For Canada Presentation to the Canadian Energy Efficiency Alliance Carol Buckley Director General Office of Energy Efficiency April 12, 2013

  2. Purpose of the presentation • Outline a global context • Examine energy efficiency in Canada today • Macro economic benefit of current and future investments • Role of government in realizing the benefits

  3. 8 7 7 7 7 mb/d 6 6 6 6 5 5 5 5 4 4 4 4 4 4 3 3 3 3 3 3 2 2 2 2 2 2 1 1 0 0 0 0 0 0 0 0 0 0 -1 -1 -1 -1 -1 -1 -1 -1 -2 -2 -2 -2 -2 2011 2015 2020 2025 2030 2035 Global energy demand is growing rapidly, with shifting demand and supply patterns Reduction in North American Oil Imports by Source Demand side Reductions due to: Demand-side efficiency 2011 net oil import level Biofuels use in transport Projected net imports Natural gas use in transport Increased oil supply Source: IEA World Energy Outlook, 2012 Energy efficiency - the “fifth fuel” Energy Efficiency Update Page 1

  4. Globally, there is still significant untapped energy efficiency potential …. 4 Energy Efficiency Potential 2011-2035 Source: World Energy Outlook 2012, International Energy Agency The IEA recommends that efficiency improvements more than double the 1980-2010 rate in order to capture these benefits

  5. Over the last two decades, energy productivity in Canada has improved Total secondary energy use intensity per capita and unit of GDP index, 1990-2010 (1990=1) Energy Intensity 1990 - 2010 25% improvement Source: Energy Efficiency Trends in Canada, 1990 - 2010

  6. … in large part from energy efficiency Factors Influencing the Change in Energy Use, 1990-2010 Petajoules = + + + + Source: Energy Efficiency Trends in Canada, 1990 - 2010

  7. Each sector has energy efficiency gains (1990-2010) Residential • 36% • $9.0 billion savings Commercial / Institution • 30% • $5.6 billion savings Transportation • 24% • Passenger $8.2 billion; freight $3.4 billion savings Industrial • 20% • $6.1 billion savings Source: Energy Efficiency Trends in Canada, 1990 - 2010

  8. From a regional perspective, energy efficiency investments yield significant returns .… Modeled Investment Levels: BAU+:moderately intensify current efforts Mid:put provinces among EE leaders High:put provinces as EE leaders (i.e. No.1) 6:1 ratio Source: Energy Efficiency: Engine of Growth in Eastern Canada, prepared by Environment Northeast (May 2012)

  9. …. including net increases in employment Job Impacts - Mid Scenario Program and participant spending ends 625,000 net increase in cumulative job years Source: Energy Efficiency: Engine of Growth in Eastern Canada, prepared by Environment Northeast (May 2012)

  10. …. and net increases in government revenue Annual Increase in Government Revenue $638M Total Gov’t revenue/yr Mid Scenario Source: Energy Efficiency: Engine of Growth in Eastern Canada, prepared by Environment Northeast (May 2012)

  11. More work is underway Canada-wide Macro-Economic Impact Study Energy Efficiency Jobs Multiple Benefits Work (International Energy agency)

  12. Canada continues to build on the potential of energy efficiency Making the stock more efficient Making energy performance more visible Making operations more efficient Making energy efficiency more affordable e.g. EnerGuide Rating System for houses e.g. Labelling programs that support regional programs e.g. SMARTWAY Transportation Partnership e.g. Regulations covering 74% of residential energy use The Government of Canada is making significant progress toward key IEA recommendations

  13. Contact Information Office of Energy Efficiency Natural Resources Canada 580 Booth Street Ottawa, Ontario K1A 0E4 http://www.oee.nrcan.gc.ca

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