Monday, March 08, 2010

Energy efficiency adds up to $700 million savings for Australian business

Far from being onerous on business, research by the Energy Efficiency Council demonstrates the potential for business to reap big savings by reducing emissions.

CLAIMS that even small greenhouse gas targets will hurt big industry have been undermined by a government report that found basic efficiency improvements could cut national emissions and save businesses more than $700 million.

An assessment of 199 large energy users found improving efficiency could stop at least 6.4 million tonnes of carbon dioxide from being emitted - a 1.1 per cent cut in the national carbon footprint each year.

The energy savings could run 1.4 million homes for a year and give the companies an extra $736 million.

An industry group, the Energy Efficiency Council, said if the biggest companies improved efficiency by 15 per cent, national emissions would fall by nearly 5 per cent, saving billions in energy costs.

Now imagine if they had a ETS to trade those savings as carbon credits? At $25 a tonne that would put $160 million into their coffers.

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