A new report finds that the low-hanging fruit of energy efficiency is the "single most promising resource" in pursuing energy affordability and security.

In addition to the tremendous savings potential for consumers and businesses, the report (pdf), by the global consulting firm Mckinsey and Company, finds that elevating energy efficiency to a national priority could also spur the creation of 600,000-900,000 long-term green jobs and reduce our overall energy consumption by 23 percent.

What are the implications of the above findings? Energy efficiency is an enormous (and enormously cheap) energy resource for the U.S., "but only if the nation can craft a comprehensive and innovative approach to unlock it."

One of those barriers is seed money; the $1.2 trillion wouldn't come for free. The investment, according to the report's authors, would be about $522 billion over the next ten years, not including program implementation. But an investment of that scale could slash energy consumption in 2020 by 9.1 quadrillion BTUs, or 23% of projected demand, potentially avoiding up to 1.1 gigatons of greenhouse gas emissions annually.

Mckinsey and Company found that substantial gains in efficiency could be made by:

1. Recognizing true potential of energy efficiency and prioritizing;
2. Encouraging old as well as new approaches to efficiency at both national and regional levels;
3. Identifying ways to provide the upfront funding for energy efficiency plans and programs;
4. Building collaborative processes with utilities, regulators, government agencies, manufacturers and consumers, and;
5. Fostering innovation in the development and deployment of energy efficiency technologies to sustain ongoing productivity.

Overcoming Significant and Persistent Barriers

To unlock the potential outlined in the report, "significant and persistent barriers" need to be addressed to spur demand for energy efficiency and adopt wide-ranging energy management systems and practices. Sounds easy enough, right? Not so fast, say the report's authors.

First off, the easiest gains in energy efficiency have already been made and much of the low-hanging fruit has already been picked. Since 1980, energy consumption per unit of floor space has decreased 11% in the residential sector, 21% in the commercial sector and 41% in the industrial sector. But while significant advancements have been made, the report strongly suggests we are not done -- largely because of the persistent social, structural and institutional barriers.

These barriers include but are not limited to: fragmented incentive structures, ownership transfer, transactional barriers, pricing distortions, educational gaps, stubborn customs/behaviors, prohibitive bundling, product availability and improper use of equipment.

Perhaps the most significant message of the Mckinsey report is that efficiency is an energy resource and should be framed as such. And while the persistent barriers alluded to above do exist, there very existence means there is tremendous opportunity for substantial gains in efficiency.

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