The United States could save about $600 billion in energy costs by 2020 if it hiked annual efficiency spending about five-fold, business consultants McKinsey and Co said in a report on Wednesday.

Governments, businesses and the general public would have to boost annual spending on existing energy-saving measures, like insulating walls and more efficient appliances, from about $10 billion annually to $50 billion per year. The upfront costs would pay off by saving $1.2 trillion by 2020, according to the report called “Unlocking Energy Efficiency in the U.S. Economy.”

Link to the original site

This entry was posted on Wednesday, August 5th, 2009 at 4:21 am and is filed under Energy Savings. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.