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The Economics of Energy Efficiency – Why It Makes Sense For Canada
Carol BuckleyDirector General
Office of Energy Efficiency
April 12, 2013
Presentation to the Canadian Energy Efficiency Alliance
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
Energy Efficiency Update Page 1
Reduction in North American Oil Imports by Source
Source: IEA World Energy Outlook, 2012
-2
-1
0
1
2
3
4
5
6
7
8
2011 2015
mb/
d
2020 2025 2030 2035-2
-1
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-1
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-1
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-1
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Demand-side efficiencyBiofuels use in transportNatural gas use in transport
Reductions due to:
Increased oil supply
2011 net oil import levelProjected net imports
Global energy demand is growing rapidly, with shifting demand and supply patterns
Energy efficiency - the “fifth fuel”
Demand side
44
Globally, there is still significant untapped energy efficiency potential ….
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
Energy Efficiency Potential 2011-2035
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)
0.7
0.8
0.9
1
1.1
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Ind
ex
Energy use intensity per capita
Energy use intensity per GDP
25%improvement
Source: Energy Efficiency Trends in Canada, 1990 - 2010
Energy Intensity 1990 - 2010
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… in large part from energy efficiency
1547.8 2981.1 563.1 -65.2 -250.2
-1680.7
-2000.0
-1000.0
0.0
1000.0
2000.0
3000.0
Total change inenergy use
Activity effect Capacityutilization
Service leveland Other
Weather effect Structure effect Energyefficiency
Factors Influencing the Change in Energy Use, 1990-2010
Pet
ajou
les
+ + + +=
Source: Energy Efficiency Trends in Canada, 1990 - 2010
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Each sector has energy efficiency gains (1990-2010)
Residential 36% $9.0 billion savings
Transportation 24% Passenger $8.2 billion; freight $3.4 billion savings
Industrial 20% $6.1 billion savings
Commercial / Institution 30% $5.6 billion savings
Source: Energy Efficiency Trends in Canada, 1990 - 2010
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From a regional perspective, energy efficiency investments yield significant returns .…
Cumulative Regional Impacts of Energy Efficiency Spending in Quebec, New Brunswick, Nova Scotia, and
Prince Edward Island, 2012-2040
5,76814,460
28,600
45,238
83,955
113,250
0
20,000
40,000
60,000
80,000
100,000
120,000
BAU+ Mid High
$201
1 M
illio
ns
Total Efficiency Program Costs Net Increase in GDP
6:1 ratio
Modeled Investment Levels:
BAU+: moderately intensify current efforts
Mid: put provinces among EE leaders
High: put provinces as EE leaders (i.e. No.1)
Source: Energy Efficiency: Engine of Growth in Eastern Canada, prepared by Environment Northeast (May 2012)
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…. including net increases in employment
Thousands (Jobs)
0
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10
15
20
25
30
35
40
45
20
12
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Th
ou
san
ds
Program and participant spending ends
625,000 net increase in cumulative job years
Job Impacts - Mid Scenario
Source: Energy Efficiency: Engine of Growth in Eastern Canada, prepared by Environment Northeast (May 2012)
10
…. and net increases in government revenue
New Revenues, Average Annual ($2011 Millions)
Federa l $51
Federa l $250
Federa l $56
Quebec $91
Quebec $116
Quebec $36
Nova Scotia $11
Nova Scotia $12
Nova Scotia $4
New Brunswick $4
New Brunswick $4
New Brunswick $1
Prince Edward Is land $1
Prince Edward Is land $1
Prince Edward Is land $0
$0
$50
$100
$150
$200
$250
$300
$350
$400
Sales Tax Personal Income Tax Corporate Income Tax
Total $158
Total $383
Total $97
Mid ScenarioSource: Energy Efficiency: Engine of Growth in Eastern Canada, prepared by Environment Northeast (May 2012)
Total Gov’t revenue/yr
$638M
Annual Increase in Government Revenue
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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
The Government of Canada is making significant progress toward key IEA recommendations
Making thestock more
efficient
Making energy performance more visible
Making operations
more efficient
Making energyefficiency
more affordable
e.g. Labelling e.g. Labelling programs that programs that
support regional support regional programsprograms
e.g. EnerGuide e.g. EnerGuide Rating System for Rating System for
houseshouses
e.g. Regulations e.g. Regulations covering 74% of covering 74% of
residential energy residential energy useuse
e.g. SMARTWAY e.g. SMARTWAY Transportation Transportation
PartnershipPartnership
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Office of Energy Efficiency
Natural Resources Canada
580 Booth Street
Ottawa, Ontario K1A 0E4
http://www.oee.nrcan.gc.ca
Contact Information