The cost of CO2 emissions could go up, too.
A new report from PricewaterhouseCoopers finds that as much as 20% of the country’s power could be saved by 2020 if all Americans invested in energy efficiency and renewable energy.
In the US, this translates into a savings of $2.2 trillion over the next decade, which would make up for the cost of the CO2 reduction programs in the US.
PwC’s report found that the total amount of CO 2 pollution in the atmosphere could be reduced by as much in 2020 as 1.6 trillion metric tons of CO.
That’s roughly equal to the annual emissions of nearly 4.5 million cars, the company’s co-author, Kevin Kelly, told Business Insider.
The biggest challenge for American energy efficiency, he said, is that a majority of US households do not have access to gas-fired power, which makes it very hard to reduce emissions.
The biggest CO2 reductions will come from utilities, which already have a significant portion of the market.
In fact, PwC found that over 70% of US utilities would likely reduce CO2 pollution by 2020, a level of emissions savings that would make their electricity consumption cheaper than it is today.
The report said that the biggest challenges for energy efficiency include the fact that a significant number of Americans do not own homes, which means that it can be difficult to find ways to install efficient appliances.
“We need to start by addressing the infrastructure that we have,” Kelly said.
If the US government takes the right steps, he believes that it could be within the next 10 years that energy efficiency could be the norm.
It is not yet clear how long this will take, however.
According to PwB, US energy efficiency policies are already starting to take effect.
PwB’s new report suggests that utilities are already beginning to reduce their carbon emissions and have been doing so since 2010, and the new report is a reminder that there is more work to be done.
For example, the US Environmental Protection Agency has begun implementing the first-ever Clean Power Plan, which aims to cut carbon emissions from electricity generation.
The US Environmental Defense Fund recently launched a campaign to encourage the development of smart energy technology.
Kelly told Business Insiders that the goal is to reduce electricity demand by as little as 10% by 2020.
There is also the question of how to make sure that energy use is reduced in the most cost-effective way, he added.
At the same time, it’s important to note that many states have already enacted energy efficiency laws.
We need new ideas to move forward in a climate-friendly way.
PwCs findings show that the US should adopt laws and policies that will help reduce energy use and carbon pollution.
As more Americans are buying electric vehicles, Kelly said, it is crucial that energy-efficient appliances are installed in their homes.
What can we do to save the world?
PwCs report also highlights the need for smarter energy use.
In addition to energy efficiency measures, the report recommends that the government look at ways to boost the economy in the energy-intensive industries that are in decline.
For example, it suggests that the Federal Reserve could increase its use of quantitative easing to support energy-related growth and development.
Also, it recommends that states establish national programs to help local governments develop green-energy technologies.
All of these measures could save the planet.