Certainly there are several reasons, a number of pros and cons to improve energy efficiency. Theoretically, with the magic formula ceteris paribus, the pros prevail and the experience from developed countries confirms this in practice as well. Transition economies have a chance to either improve or introduce energy efficiency, and despite the fact that the obstacles and negatives exist, EE has a great potential, which should be utilized. Whilst an increase in energy efficiency investment can generate economic and business opportunities, it cannot be done unless there is an effective institutional mechanism to provide financing as well as technological inputs.
The chapter provides a broad picture of the benefits and drawbacks of energy efficiency investment programmes. This is an opportunity for energy efficiency policy makers to study and work together with those responsible for areas, such as economic regeneration and local sustainable development
39 Flaim 1995, 43-53; IEA 2007.
to combine funding for projects that both improve energy efficiency and transform the economy. This may be a good way to increase the overall level of funding available for energy efficiency work whilst allowing it to make a useful contribution to social as well as environmental sustainability.
However, assumptions should not be made about the suitability of programmes from one country for addressing specific issues in another, based solely on the evidence from this study. However, promising projects worthy of further study may be identified for each country depending on its specific conditions. Thus, approaches which demonstrate the potential to provide the right incentives at the right time can be identified and studied as appropriate.
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Renewable energy is energy that is generated from sunlight, rain, tides, geothermal heat and wind. These sources are naturally and constantly replenished, which is why they are deemed as renewable. The usage of renewable energy sources is very important when considering the sustainability of the existing energy usage of the world. While there is currently an abundance of non-renewable energy sources, such as nuclear fuels, these energy sources are depleting. In addition to being a non-renewable supply, the non-renewable energy sources release emissions into the air, which has an adverse effect on the environment.