July 31st, 2009
McKinsey: Saving energy could have huge economic impact
Forget carbon footprint measures for a moment. How much money could be poured back into the U.S. economy if people spent more time worrying about wasted energy consumption?
McKinsey & Company has come up with a number in a new report about “unlocking energy efficiency in the U.S. economy.” According to the consulting company, businesses have the potential to cut non-transportation related energy consumption by 23 percent between now and the year 2020. This translates into about $1.2 trillion, although it would require an upfront investment of about $520 billion to realize these savings.
According to McKinsey, the following will be central to realizing these savings:
- The declaration that energy efficiency measures are just as important to the national debate about energy consumption as are the development of alternative energy sources.
- The development of national and regional approaches to energy efficiency programs.
- Sources of funding.
- Better alignment between utilities, regulatory bodies, government agencies, manufacturers and consumers.
- Innovation in next-generation energy-efficiency technologies.
Click here for the press release about the report.
Click here to download an executive summary of the report (shorter version!).
Click here to download the full version.
Heather Clancy is an award-winning business journalist in the New York area with more than 20 years experience covering the high-tech industry. See her full profile and disclosure of her industry affiliations. See her full profile and disclosure of her industry affiliations.
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