Many still fail to appreciate the huge potential for using energy more efficiently, which is probably the best way to reduce carbon emissions.
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In the Boston Consulting Group’s report The Energy Efficiency Opportunity: Winning Strategies for a High-Growth Market, which was published in May, we calculate potential energy savings of 200 megatons of oil equivalent (Mtoe) in the U.S., which is equal to 20% of annual energy demand.
In Europe, we project that energy-efficiency technologies will represent a market worth approximately €30 billion ($38.2 billion) by 2020.
The most robust growth will be in countries with high energy prices, determined regulators, stable regulatory environments, and established energy-efficiency markets.
Some important challenges remain in the residential market, however.