Abstract
The energy efficiency represents a global and multi-faceted issue. It is especially important in the former socialist countries belonging to the Balkan’s region being geographically located in the Southeastern Europe (SE). The research problem addressed in this paper focuses on the unexplored potential links between the energy efficiency and the economic development. Energy efficiency is deemed to be highly job intensive phenomenon. It delivers multiple long-range benefits by the means of increasing competitiveness, energy affordability, and decreasing energy bills. Furthermore, it seeks to tackle the important issues of reduced reliance on energy importing, reduction in harmful greenhouse gas emissions and freeing up of funds to be critically invested in other economic areas. Energy efficiency, efficient and effective policies have been found to be directly linked to job creation and deliverance of the economic stimulus. These types of jobs are related to the activities with the paramount aim in reduction of the energy consumption. Investments in energy efficiency in the buildings and construction sector have been found to have brought about the greatest macroeconomic impact. This impact is due to the increasing need for the construction of new buildings and renovation of existing ones, in addition to its considerable potential in activation of the above listed industries’ value chains. The introduction of energy management system (EMS) being exemplified through the set of processes which utilize data to maintain and enhance energy efficiency and operational efficiency could be one of the important avenues to pursue. On the other hand, the EMS reduces the energy intensity and detrimental environmental polluting impact.
Highlights
The energy efficiency represents one of the critical resources for the social and the economic development
The research problem addressed in this paper focuses on the unexplored potential links between the energy efficiency and the economic development
New building programs revolve around the focus on construction to meet high energy efficiency standards
Summary
The energy efficiency represents one of the critical resources for the social and the economic development. The fourth aspect addresses the need for government to deliver the economic stimulus packages by utilizing scale and speed. This includes the standardization of designs, eligibility criteria in contract, innovation in retrofitting and technology upgrades all the way to the philosophy, as to how the energy efficiency can be included into all-encompassing government stimulus packages. The policy makers in developed economies have grasped the sense for cities (urban areas) to focus significant part of its economic development efforts on energy management in the public residential buildings. By doing so, they tend to attract and keep valued businesses with their jobs and tax revenues.
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