Turkey to invest over $20 Billion in energy efficiency projects by the year 2030

Turkey to invest in energy efficiency projects

Turkey is planning on investing over $20 billion in energy efficiency projects by 2030, aiming to achieve significant cost savings and sustainability benefits across key sectors, including buildings, public lighting and industry. A recent announcement by an expert at the Ministry of Energy and Natural Resources highlighted the country’s commitment to reducing energy consumption, enhancing infrastructure, and supporting green transformation.

The head of the Ministry’s Energy Efficiency and Environment Department, Bilal Duzgun, revealed that $8.5 billion had been invested in energy efficiency between 2017 and 2023 as part of the country’s first National Energy Efficiency Action Plan.

Duzgun spoke with Anadolu Agency (AA) and told them off his plans to expand for the second action plan and how the plan is key for sustainable development and battling climate change.

He stated that “The Second National Energy Efficiency Action Plan foresees an investment of $20.2 billion in all sectors between 2024 and 2030.”

He went on to say “Over the past two decades, Turkey has emerged as one of the top Organisations for Economic Co-operation and Development (OECD) countries in improving energy efficiency, achieving a reduction in energy intensity of more than 30%.”

Back in 2023, Turkey achieved a 4.5% energy savings rate, surpassing the global average of 1%, showcasing its strong commitment to energy efficiency, sustainability, and reducing carbon emissions.

Duzgun also announced that business centres, offices, hospitals, large campuses and shopping malls are now eligible for grants per project of up to 21.6 million TL.  

He stated that “by 2026, all new public buildings must obtain green building certification, with an expected annual savings of TL 1.5 billion.”

It has been reported that the Ministry of Energy and Natural Resources is also planning on introducing a geographic information system based map to optimize heat pump investments, supporting energy efficiency, sustainability and the transition to cleaner heating solutions in Turkey.

“This map will show areas with the highest potential heat pump installations, especially in the Mediterranean and Aegean regions,” Duzgun explained.

Source: Daily Sabah

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