China has made reducing energy intensity one of the top priorities as well as significant progress in energy saving measures in the past several years. China is now noted as second in rank for energy-efficiency investment for buildings with $18 billion, according to the latest market report from the International Energy Association.
Philippe Benoit, head of the Energy Efficiency and Environment Division at the IEA in Paris, explains that every year the company looks at a particular sector to analyze energy efficiency investments. This year, they have decided to analyze the building sector. The estimation for investments in energy efficiency in buildings came to $90 billion – including the installation of the inspection system and lighting.
The market for energy efficiency in China has been driven by energy service-company investments, consumer spending, and voluntary and mandatory government programs including building codes and retrofit. More than 70% energy-efficiency investments can be found in new buildings.
Benoit adds that China plays a crucial role in reducing carbon emissions to address climate changes and has started to hold onto that responsibility.
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