Energy efficiency in Latin America and the Caribbean is critical to reducing the vulnerability of energy systems, improving social and economic well-being, and ensuring the affordability of energy services. Various studies highlight that energy efficiency is one of the fastest and most cost-effective options to reduce CO2 emissions and strengthen energy security. The region has the potential to save at least 20% of its current energy consumption just by using more efficient devices, however, it shows slower progress compared to other regions of the world, indicating a significant gap to achieve the sustainable development goals
To mitigate climate change, Latin America and the Caribbean must harness its energy efficiency potential. Energy savings would not only reduce greenhouse gas emissions, but would also improve the competitiveness of productive sectors and reduce dependence on fossil fuels. The implementation of public policies and energy efficiency programs is essential to overcome the economic, regulatory, and technological barriers that hinder the mass deployment of these measures
