BUSINESS

Necessary to Intensify Investment in Cost Savings and Renewable Energy

energyIn the recently published report “Invest in a hurry, you will have time to regret’, on investments of the World Bank, European Investment Bank and the European Bank for Reconstruction and Development in energy projects in Southeast Europe, a chapter is devoted to BIH.

This report was prepared by the organizations SEE Change Net, CEE Bankwatch Network and WWF together with 14 organizations of civil society from countries in the region (BIH, Croatia, Montenegro, Albania, Macedonia, Serbia, Kosovo).

On the basis of the report, it can be concluded that if BIH officials, together with international institutions, do not begin to intensify investments soon in energy savings and in renewable and sustainable energy resources, existing installations will expenditures will continue to poison BIH citizens and will have a detrimental impact on the environment.

The report also warns that market deregulation in 2015 will lead to an increase in energy prices without saving measures in households and the economy, and BIH citizens and entrepreneurs will not be able to pay for the energy they need to live normally.

According to expert estimates, investment in energy savings is one thousand and more times cheaper than investment in the capacity needed to produce the same amount of energy. This simple formula is not enough for governments and ministries to be more active in projects of energy savings because they are set to the interests of energy lobbies that do not see savings in their own interest.

If this is not done by governments and international financial institutions, it is unlikely that power utilities, private banks and private investors will deal with this. An impoverished economy, lack of jobs, environmental and climate changes will be some of the problems that will happen to use and our children in around 10 years, and this all depends on the decision that will be brought today.

The International Energy Agency highlighted that carbon dioxide emissions can be sufficiently reduced by investing in energy efficiency, and reducing the use of power plants based on coal and fossil fuels. However, there is still investment in traditional, non-sustainable energy sources, and the focus is on production of energy instead of savings.

According to the report, the goals that are set in front of governments, as well as nonprofit and international institutions, are not unrealistic and above all have an important impact on the future for children in BIH and in the region.

Reducing energy consumption by 20 percent through savings projects and energy efficiency until 2020 is not only in accordance with European directives, but is also of vital importance for this region, announced StrikConsulting.

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