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President Piñera promulgates the Energy Efficiency Law for Chile

InvestChile - February,12,2021

The new regulation marks a milestone in the country's history to achieve carbon neutrality by 2050.

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The President of the Republic, Sebastián Piñera, promulgated this Monday in the Los Lagos region the Energy Efficiency Law that promotes the rational use of energies and the use of those that are friendly to the environment.

The regulation establishes energy efficiency as a State policy, which implies greater support to companies to permanently carry out good energy management, incentives for the arrival of more efficient and zero-emission vehicles, accurate and clear information at the time of buying a home on energy consumption and promoting the proper use of energy in government institutions.

"The time for diagnoses, for agnostics, for skeptics is over, the time for action, commitment and will has arrived," said the President during the activity in the Puerto Octay district, in which he was accompanied by the Minister of Energy and Mining, Juan Carlos Jobet.

The Head of State highlighted the benefits of the new law, understanding the relevance of energy in households and productive sectors in Chile. Currently, up to 13% of the budget of an average vulnerable family is used to cover the energy needs of the home, while, in the productive sector, the costs for the purchase of fuel and electricity can exceed 15% of the budget total in those industries.

“For a long time we thought that energy, the sea, the air, the forests were infinite, but history has shown us that we have to take care of our environment and our nature, because nature can live without us, but we cannot live. without our nature, ”remarked President Piñera.

The new law establishes, among its main actions, that large energy consumers must implement energy management systems and report their energy consumption to the Ministry of Energy. Similarly, new energy efficiency standards will be required for the vehicle fleet that is marketed in our country, specifically promoting electromobility.

Another of the relevant points of the regulation is that from now on new homes will have a label like that of electrical appliances. Thus, citizens will be able to choose a home in a more informed and efficient way.

The measures will allow a reduction in energy intensity in Chile of 10%, by 2030, an accumulated saving of US $ 15,200 million and a reduction of 28.6 million tons of CO2. This is equivalent to the annual route of 15.8 million light vehicles or the annual absorption of 1.8 million hectares of native forest.

Thus, this new regulation will be essential to achieve carbon neutrality. It is estimated that it will cover 35% of the carbon neutrality goal self-imposed by the country by 2050.

“This alliance that we have to make between the Government, the large energy producers, the large energy consumers, but also the entire citizenry is what will allow us to fulfill our goal and our commitment, that Chile is a country sustainable and sustainable ”, concluded the President.

Source: BN Americas

Topics: Foreign Investment in Chile- Energy Efficiency Law

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InvestChile

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