Natural gas, renewables and efficiency make emissions a winner
New Research from Bloomberg New Energy Finance and the Business Council for Sustainable Energy paints a dynamic and quickly changing U.S. energy landscape in which natural gas and renewables have gained market share and energy efficiency is making a significant impact.
The research found that from 2007 to 2012, natural gas rose to 27.2 percent of total energy consumption (including electricity, heat, and transportation) from 23.4 percent, while renewables including wind, solar, biomass and hydropower have increased to 9.4 percent from 6.4 percent. During the same timeframe, coal declined to 18.1 percent from 22.5 percent and oil fell to 36.7 percent from 39.3 percent.
Energy efficiency is increasingly becoming a priority among such large power consumers as manufacturers who are more cost conscious than ever. Utility energy-efficiency budgets reached $7 billion in 2011 and financing for energy efficiency retrofits has become increasingly innovative, making energy efficiency much more attractive to facility owners.
From the mix of advances in natural gas, renewables and energy efficiency, carbon emissions have come out a winner, falling 13 percent from 2007 to 2012, according to the report.
- see the report