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Free lunch? / Lucas Davis, Energy Institute at Haas, Energy Economics Exchange, 30 April 2012http://energyathaas.wordpress.com/2012/04/30/free-lunch/Supporters of energy-efficiency policies argue that they are a “win-win”, helping to reduce energy expenditures while also reducing carbon dioxide emissions and other negative externalities from energy use. This much discussed McKinsey report, for example, argues that energy-efficiency investments are a “vast, low-cost energy resource” that could reduce U.S. energy expenditures by billions of dollars per year. And the potential for savings is even larger in low and middle-income countries, where most of the growth in energy demand is expected to come over the next several decades...