Members of the European Parliament adopted a directive that embraces more energy efficiency from areas ranging from distribution to consumption. The assembly added that cutting energy consumption by 20 percent could save the European Union around $64 billion per year.
European Energy Commissioner Gunther Oettinger said the measure would lead to economic growth in the eurozone.
"The positive vote on this directive is an important step in these difficult economic times," he said in a statement.
The European Central Bank pledged during the summer to take whatever action is necessary to support the euro. The Organization of Petroleum Exporting Countries, in its monthly report for September, expected the eurozone to return to growth next year.
Lawmakers in the European Parliament described energy efficiency targets as essential to energy security and economic recovery.
The 20 percent target is envisioned for 2020.