This paper presents the development and application of a dynamic model which allows to quantify the changes in the number of white goods in stock, the related evolution of energy efficiency as well as the changes/projections of electricity consumption in the next 20 years using data from Switzerland. According to the “reference scenario” based on observed market trends the electricity demand of white goods is expected to decrease by 8% between 2015 and 2035. The analysis shows that this is the combined result of having more energy efficient appliances in the stock, a higher appliance ownership level, and an increased number of dwellings. The “maximum efficiency” scenario based on new technologies shows an electricity saving potential of white goods of 25%. These findings confirm that energy efficiency standards and labelling can be effective instruments for achieving energy and CO2 emissions reduction targets. The assessment for cost effectiveness indicates the current limited scope for economically viable energy efficiency improvements of white goods, while novel technological solutions are likely to expand the economic energy efficiency potential. Since white goods and their components are mass-produced and traded internationally, similar findings can be expected for other countries with comparable legislation (e.g. EU member states) but country-specific analyses are nevertheless recommended.