... only if this doesn't temporarily bid down energy prices and lead others to use the same energy somewhere else.

https://en.wikipedia.org/wiki/Jevons_paradox

Note: the more potential uses of a resources, the more vulnerable it is to Jevons effects, where people use a resource more in response to being able to use it more efficiently.

The real benefit of energy efficiency is not that it reduces energy use by itself, but that it reduces the utility loss from implementing the caps and taxes necessary to actually reduce total usage.