Report focuses on policy context and recommendations for both countries
Improving quality of life for people is at the heart of our business, which is why we collaborated with Centre for Economics and Business Research (Cebr - an independent London-based economics consultancy) to produce the ‘Powering Energy Efficiency’ report. In the midst of an energy crisis, efficiency is a surprisingly under-represented topic, particularly in the UK and Germany. Grundfos’ aim was to change this by uncovering the untapped potential of energy efficiency and the savings to be yielded if governments take action now.
We have never underestimated the importance of energy efficiency and the report findings are clear - at a time when Europe is facing a precarious economic outlook, homes and businesses cannot afford to be losing out on the savings that better energy efficiency can unlock.
Despite the long-term savings potential of energy efficiency, our report shows that people are put off due to perceived upfront costs and a lack of information on their positive impact. There is a huge gap between the barriers and the benefits which must be overcome.
Energy efficiency will become an even more salient issue as countries, including the UK and Germany, aim to transition away from fossil fuels and pursue more sustainable measures for heating homes and businesses. It is the single most important factor in meeting the Paris Agreement as 40% of the CO2-emission reduction goal can be met by energy efficiency improvements alone. Ensuring that heating systems are more efficient is vital if we are to see a further reduction in emissions, as well as costs for households and businesses the world over.
Whilst there is plenty that the Government can and should be doing via economic and environmental incentives to affect change, particularly around regulation and enforcement of energy saving measures, it’s apparent that the gap in knowledge must be urgently addressed first.
We therefore call upon the UK and German governments to launch public awareness campaigns that will finally dispel damaging myths around energy efficiency improvements and lead to the cost savings our households and businesses deserve. There also needs to be a rethink of EPC ratings and a greater understanding of the need for installation best practice including hydraulic balancing across heating systems, and the role that district heating is set to play in the future.
Against an ever-changing landscape of political and economic uncertainty, it’s essential governments step in to start making energy efficiency a priority. With this report we provide them with the evidence base to do so and we urge them not to shy away from the compelling case we present.