Boulder, CO –Because the existing building stock dwarfs the amount of building space that is added on an annual basis, retrofits are a critical pathway to greening the world’s commercial buildings. Regulations and policy measures, technological advances, and cost reductions are all driving increased investment in energy efficiency retrofits. According to a recent report from Navigant Research, cumulative investment in commercial building energy efficiency retrofits will total $959 billion from 2014 through 2023.
“Led by the Asia Pacific region, the global market for energy efficiency commercial building retrofits is expected to grow at more than 7 percent a year through 2023,” says Eric Bloom, principal research analyst with Navigant Research. “While government mandates play an important part in driving this growth, many retrofit projects are being undertaken on a voluntary basis, as corporate sustainability initiatives spread.”
The payback periods for energy efficiency retrofit projects are slowly decreasing, according to the report, but they remain a critical factor for most building owners and managers. Tolerance for longer payback periods varies both by region and by building owner category. Only 15 percent of all energy efficiency retrofits are initiated with increased energy efficiency as the primary motivator, the report concludes.
The report, “Energy Efficiency Retrofits for Commercial and Public Buildings”, examines the global market opportunity for energy efficiency retrofits in eight different commercial and public building types. It analyzes the key market and technology issues related to energy efficiency retrofits, with a focus on the following product and service types: HVAC, lighting, controls, water efficiency, water heating, building envelope, power generation, commissioning, installation, and energy service companies (ESCOs). Global market forecasts for revenue, segmented by region, product and service type, and building type, extend through 2023. The report also assesses the demand drivers, business models, and standardization and regulatory factors related to energy efficiency commercial and public building retrofits and profiles the key industry players in this market. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Energy Efficiency Retrofits for Commercial and Public Buildings,”is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Related Stories
| Dec 5, 2011
New York and San Francisco receive World Green Building Council's Government Leadership Awards
USGBC commends two U.S. cities for their innovation in green building leadership.
| Dec 5, 2011
SchenkelShultz Architecture designs Dr. Phillips Charities Headquarters building in Orlando
The building incorporates sustainable architectural features, environmentally friendly building products, energy-efficient systems, and environmentally-sensitive construction practices.
| Dec 1, 2011
Ground broken on first LEED Platinum designed school house built by volunteers
Phoenix public school receives the generous gift of a state-of-the-art building for student and community use.
| Nov 29, 2011
Suffolk Construction breaks ground on Boston residential tower
Millennium Place III is a $220 million, 256-unit development that will occupy a full city block in Boston’s Downtown Crossing.
| Nov 22, 2011
Report finds that L.A. lags on solar energy, offers policy solutions
Despite robust training programs, L.A. lacks solar jobs; lost opportunity for workers in high-need communities.
| Nov 22, 2011
New Green Matters Conference examines emerging issues in concrete and sustainability
High-interest topics will be covered in technical seminars, including infrared reflective coatings for heat island mitigation, innovative uses of concrete to provide cooling and stormwater management, environmental benefits of polished concrete, and advancements in functional resilience of architectural concrete.
| Nov 14, 2011
303 East 33rd Street building achieves LEED-NC
The 165,000 sf 12-story residential building is the first green development to be LEED certified in the Murray Hill neighborhood of Manhattan.
| Nov 11, 2011
AIA: Engineered Brick + Masonry for Commercial Buildings
Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.
| Nov 4, 2011
CSI and ICC Evaluation Service agree to reference GreenFormat in ICC-ES Environmental Reports?
ICC-ES currently references CSI's MasterFormat and other formats in all of its evaluation reports. The MOU will add GreenFormat references.
| Oct 25, 2011
Commitment to green building practices pays off
The study, conducted by the Pacific Northwest National Laboratory, built on a good indication of the potential for increased productivity and performance pilot research completed two years ago, with similarly impressive results.
