Energy Minister Eamon Ryan has launched Ireland's first National Energy Efficiency Action Plan, which he said will change the way energy is used over the next decade.

"In 1976, Amory Lovins predicted that by the beginnings of this century, 20% of the energy we use will be wasted energy," said Mr Ryan.

"It is the case that one fifth of all our energy is unused. Such waste with an expensive commodity makes no sense."

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However the Minister said he is committed to bringing "the sense back into our energy use".

"In my first year in Government, I focused on changing how we create our energy. This year, we will prioritise how we save on energy use and energy costs, bringing down our emissions at the same time," he said.

"€1.6bn per annum is money that our economy could do with at this time. Vast savings on business and householder energy bills will help our competitiveness."

Mr Ryan said carbon emissions reductions would help Ireland meet its Kyoto targets.

(PR/JM)