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Improving and increasing energy efficiency could reduce CO<sub>2</sub> emissions by 40 percent by 2040. This would require efficiency gains in transportation (for example, electric cars), in households (more efficient houses and appliances) and in industry. Households worldwide could also save more than $500 billion dollars per year in energy bills by increasing their energy efficiency (electricity, natural gas for heating and cooking and fuel for transportation)<ref name=":9" />.
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