Energy efficiency is increasingly recognized as a cost-effective solution to provide affordable and secure energy, while promoting economic growth. This approach can help countries avoid excessive spending on new energy infrastructure and reduce dependency on imported fuels.
Türkiye's National Energy Efficiency Action Plan, initiated in 2017, has proven successful with $8.5 billion in investments resulting in significant primary energy savings. The country now plans to invest over $20.2 billion by 2030 across various sectors to further enhance these savings.
A World Bank-supported project focused on public buildings in Türkiye laid the foundation for broader market development, eventually serving the private sector. "Improving energy efficiency in buildings is a smart business investment," stated Charles Cormier of the World Bank.
In Kocaeli, the Kandıra State Hospital implemented energy-saving measures that resulted in substantial reductions in electricity bills. Gürol Aydemir of the hospital expressed pride in these achievements and noted future savings would be redirected toward other essential costs.
Globally, energy efficiency created nearly 11 million jobs within the energy sector by 2022. Initiatives like IFC’s EDGE program have trained thousands globally, fostering skills needed for this growing field.
Maria Marcela Silva from the World Bank emphasized that increasing investments can meet rising demand while supporting economic growth. In Latin America and the Caribbean, opportunities abound despite current low investment levels.
The World Bank Group advocates for a collective effort to unlock energy efficiency potential through policy prioritization and strengthened institutions. Demetrios Papathanasiou highlighted their efforts to scale up impacts through innovative programs and global knowledge-sharing initiatives.