59-05-032 Proceeding

30 Proceedings of the Princess Maha Chakri Sirindhorn Congress or more energy-efficient (EE) technologies and processes; for the supply by moving to renewable energy sources (RE) or nuclear from carbon-based sources). The stated global target is to arrive at an atmospheric carbon concentration preferably below 450 ppm (IPCC, 2007a). New energy sources, preferably low carbon systems, would help alleviate the pressures on our energy system; but so could a reduction in our profligate consumption of energy. This paper addresses these two approaches but our focus on reducing energy demand will be on energy efficiency technologies (and these will vary depending on different market segments.) We conveniently divide these segments as: industrial energy efficiency and commercial/residential technologies. The latter are best categorized in the different elements of the McKinsey Abatement Cost Curve (MACC) as described in the next section. McKinsey Abatement Cost Curve (MACC) Carbon mitigation solutions are perceived to be costly, and resistance to change prevails. However, one study indicated that to stabilize the long-term atmospheric carbon concentration at 450 ppmwill cost the world less than 1% of forecasted global GDP in 2030, if rational cost effective abatement pathways were to be pursued (McKinsey & Company, 2009). On the contrary, delayed action will cause more economic damage, estimated at 1 to 5% of GDP for 4°C of warming for the global mean, and with substantially higher regional losses anticipated (IPCC, 2007b). The Figure 1 A Balancing Act in Energy