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Energy Efficiency Measures Saved $420 Billion of Oil, IEA Says

Oct. 16 (Bloomberg) -- Energy efficiency measures saved the equivalent of 570 million metric tons of oil equivalent, worth $420 billion, in 11 nations from 2005 though 2010, according to the International Energy Agency.

Without efficiency measures, consumers in the IEA member countries would now be consuming about two-thirds more energy than currently, the Paris-based group said today in a report.

Energy efficiency around the world drew investment of as much as $300 billion in 2011, a level on par with global investments in renewable energy or fossil-fuel power generation, the agency said.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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