With that in mind, fast-forward to 2040. According to the 2018 Outlook for Energy, we will live in a world that requires less energy to run our households, thanks to smarter technologies in the things we use every day. In fact, without the energy savings enabled by gains in the energy efficiency of the world’s economy, global demand could nearly double by 2040. Instead, global energy demand is expected to increase only 25 percent in that time, according to the Outlook.
Take your home air conditioner, for example. The demand around the world for this domestic comfort is only growing, but so are the gains from highly efficient units. Switching to a newer air conditioner could reduce energy use by 20-50 percent, according to the U.S. Department of Energy.
Outside the home, folks are driving cars today that are made with lighter materials and newer technologies that help contribute to more efficiencies, culminating in reduced emissions.
Individual consumers doing more with less results in a global trend, and to highlight that, we looked at the demand we can now expect versus what it could have been without new efficiencies.