Up to $500 billion (£385.25bn) per year could be saved by deploying energy efficiency improvements

The level of savings available by deploying energy efficiency improvement measures is simply staggering, reaching $500 billion (£385.25bn) per year, according to recent information provided by the International Energy Agency (IEA).

The organisation’s new report suggests efficiency improvements alone could allow the world to extract twice as much economic value from the energy it uses.

It outlines how even a 2040 scenario with 60% more buildings, a 20% larger population and an economy twice the size could use only marginally more energy than today and have 12% lower greenhouse gas emissions, if an immediate step up in policy action was made.

The IEA states countries would need to continue to push up the efficiency of cars and trucks, double the efficiency of air conditioners and improve efforts in the vital building, industry, aviation and shipping sectors.

Despite its optimistic outlook, the report also warns policy efforts have weakened in recent years, as fewer new standards and policies were introduced in the past two years, contributing to the acceleration in energy demand growth observed in 2017.

HeatingSave – the best BMS (building management system) to help home owners and businesses cut their energy bills

Replacing your central heating clock with a HeatingSave energy and boiler management controller is the quickest way of beating those tariff rises and saving on energy costs, often paying for itself in less than a year but almost always in less than 3 years.

HeatingSave can cut your energy usage by 20% to 30% with its energy management control, as its internal microprocessor constantly calculates and improves the efficiency and savings of your central heating system.

Using HeatingSave, simply choose the room temperature and the hot water you want, and when, and HeatingSave does the rest. It works with all central heating systems – oil, gas or coal – and links up with a PC to produce reports and graphs to fashion a powerful and complete energy management system.

The system is backed by the Carbon Trust and the Energy Savings Trust.