Leveraging Digitalization for Improving Energy Efficiency

M. Subramanian

Chapter 17 in The Handbook of Energy Policy, 2023, pp 483-508 from Springer

Abstract: Abstract Energy efficiency holds a lot of promise for boosting economic growth while also reducing greenhouse gas emissions. Digital technologies help to improve energy efficiency by providing efficiency, analytics, and enhanced control. Some of the most likely effects of digitalization include innovation, new business strategies and models, and energy-efficient products and services. Digital transformation can help build smart energy-efficient homes, smart buildings, smart energy systems, smart cities, and low-carbon systems that can lead to significant energy savings. This chapter explores the potential for leveraging digitalization to maximize energy efficiency and the impact of digitalization in achieving energy optimization as well as sustainable development goals. The study aims to identify key areas of focus, such as energy efficiency strategies, technological advancements, and the potential for energy savings and reducing carbon emissions as a result of these developments. Examples of real-life situations are included in the study in order to highlight the key policy initiatives and research efforts. The research provides qualitative perspectives based on a comprehensive literature review and an understanding of insights into key aspects of the current situation, the progress of digital transformation, challenges, future direction, and suggestions for achieving sustainable energy efficiency.

Keywords: Digitalization; Leveraging; Energy Efficiency; System Efficiency; Artificial Intelligence; Smart Cities (search for similar items in EconPapers)
JEL-codes: L86 O44 Q43 Q54 Q55 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-981-19-6778-8_22

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