Energy Efficiency Council (EEC) CEO, Luke Menzel has called for urgent action to meet Australia's energy target.
Menzel said the Australian government has set a target to improve energy productivity by 40 per cent by 2030.
"But on our current trajectory we will fail to meet this target," he warned. “We need serious reforms to unlock the full benefits of energy efficiency.”
Menzel made the warning while launching a new Australian Energy Efficiency Policy Handbook today.
He said the handbook aims to kick-start a discussion about the actions necessary to meet Australia’s energy productivity target, and sets out a suite of evidence-based recommendations.
“We want to spark genuine debate among businesses, academics, governments and the broader community, and to build consensus on what constitutes sensible, stable energy efficiency policy in Australia,” he said.
"Australia's rate of energy efficiency improvement continues to fall behind other developed economies.
"We need strong government leadership, and new energy efficiency policies that remove barriers and correct well-known market distortions."
Menzel said real effort to improve energy efficiency is essential to limit increases in energy bills and tap into the global economic opportunities that are emerging as countries move towards a carbon zero world.
He said Australia is at the cusp of a new global wave of investment in energy infrastructure.
"It's up to us to make the most of the opportunities to grow our economy, create jobs and cut emissions,” Menzel said.
"Australia can tap into the $470 billion global energy efficiency market, while delivering cheaper energy bills, healthier buildings and a cleaner environment.
"Smart energy use can drive economic growth by improving productivity and resource efficiency while lowering energy costs."
The handbook was launched at a leaders’ forum and speakers included Dr John Hewson AM and David Hochschild, Commissioner of the Californian Energy Commission.
Another report to be released later today is the international energy efficiency scorecard which measures the efficiency of 23 of the world's largest energy consuming countries including Australia.
It is compiled by the American Council for an Energy Efficient Economy (ACEEE) visit http://aceee.org.