Rationalization of electricity consumption among fastest global strategies to save energy: IDSC
Updated 1/16/2023 2:30:00 PM
Arab Finance: Rationalization of electricity consumption is the fastest way to save energy, the Information and Decision Support Center (IDSC) said in a recent report.
Energy and fuel used in home heating, cooling, and lighting systems account for 40% of power consumption in Europe, the report showed.
Households are the largest consumers of energy; therefore, the rationalization of energy consumption helps in reducing emissions, which could highly impact the climate change goals, the report added.
Hence, the report highlighted a number of international strategies to save energy, including the US Department of Energy’s hydrogen plan, under which the department pledges $100 million in investment for using hydrogen as an alternative to fuel.
Regarding the European Union’s (EU) strategy, the report mentioned that the EU is adopting an effective and sustainable heating and cooling strategy to boost the efficiency of heating and cooling systems at buildings by using renewable energy resources.
In China, the government follows the Five-Year Plans (FYPs) that support investment projects and industries, as well as focus on energy efficiency programs and policies development, the report signaled.
As per the Japanese strategy, Japan has been adopting the hydrogen strategy since December 2017, and is targeting the commercial generation of 300,000 tons of hydrogen a year by 2030.
The report also put a spotlight on Egypt’s launch of an initiative to rationalize electricity consumption in August 2022, with the aim of increasing natural gas exports and boosting foreign reserves.
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