A recent report by the HEC Montréal chair in energy sector management highlights that implementing energy efficiency measures is significantly cheaper than developing new power generation projects. The average cost of energy savings is approximately three cents per kilowatt-hour (¢/kWh), while generating additional electricity costs around twelve cents per kilowatt-hour. Pierre-Olivier Pineau, the chair, emphasizes that pursuing energy efficiency is about five times less expensive than new projects. Hydro-Quebec aims to achieve 21 terawatt-hours (TWh) in efficiency gains by 2035, a target that is technically feasible but may require overcoming consumer indifference towards energy efficiency. The report also notes that a staggering 60% of energy consumption in the industrial sector is wasted, presenting an opportunity for heat recovery and other efficiency measures. The energy efficiency sector includes nearly 12,000 companies and generates significant economic impact, with revenues estimated at $27 billion and close to 100,000 jobs.