The IEA has released its Sustainable Recovery Plan, providing suggestions for how governments can simultaneously boost economic growth, create millions of jobs and build more resilient and cleaner energy systems. It shows ways to integrate energy policies into government responses to the economic shock caused by the Covid-19 crisis, helping accelerate the deployment of modern, reliable and clean energy technologies and infrastructure.
The set of policy actions and targeted investments over the 2021-2023 period that are outlined in the report increase global economic growth by an average of 1.1 percentage points a year; save or create roughly 9 million jobs a year; and make 2019 the definitive peak in global greenhouse gas emissions, along with other benificial effects. Achieving these results would require global investment of about USD 1 trillion annually over the next three years.
In the report, the use of heat pumps is highlighted as a cost-efficient means of carbon emission reductions, in connection with building envelope improvements. It is also emphasized that heat pumps have attractive payback periods for low temperature industrial process heat, and that investment in heat pumps create jobs.