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
| Nov 9, 2010
U.S. Army steps up requirements for greening building
Cool roofs, solar water heating, and advanced metering are among energy-efficiency elements that will have to be used in new permanent Army buildings in the U.S. and abroad starting in FY 2013. Designs for new construction and major renovations will incorporate sustainable design and development principles contained in ASHRAE 189.1.
| Nov 3, 2010
First of three green labs opens at Iowa State University
Designed by ZGF Architects, in association with OPN Architects, the Biorenewable Research Laboratory on the Ames campus of Iowa State University is the first of three projects completed as part of the school’s Biorenewables Complex. The 71,800-sf LEED Gold project is one of three wings that will make up the 210,000-sf complex.
| Nov 3, 2010
Park’s green education center a lesson in sustainability
The new Cantigny Outdoor Education Center, located within the 500-acre Cantigny Park in Wheaton, Ill., earned LEED Silver. Designed by DLA Architects, the 3,100-sf multipurpose center will serve patrons of the park’s golf courses, museums, and display garden, one of the largest such gardens in the Midwest.
| Nov 3, 2010
Public works complex gets eco-friendly addition
The renovation and expansion of the public works operations facility in Wilmette, Ill., including a 5,000-sf addition that houses administrative and engineering offices, locker rooms, and a lunch room/meeting room, is seeking LEED Gold certification.
| Nov 3, 2010
Sailing center sets course for energy efficiency, sustainability
The Milwaukee (Wis.) Community Sailing Center’s new facility on Lake Michigan counts a geothermal heating and cooling system among its sustainable features. The facility was designed for the nonprofit instructional sailing organization with energy efficiency and low operating costs in mind.
| Nov 3, 2010
Seattle University’s expanded library trying for LEED Gold
Pfeiffer Partners Architects, in collaboration with Mithun Architects, programmed, planned, and designed the $55 million renovation and expansion of Lemieux Library and McGoldrick Learning Commons at Seattle University. The LEED-Gold-designed facility’s green features include daylighting, sustainable and recycled materials, and a rain garden.
| Nov 3, 2010
Recreation center targets student health, earns LEED Platinum
Not only is the student recreation center at the University of Arizona, Tucson, the hub of student life but its new 54,000-sf addition is also super-green, having recently attained LEED Platinum certification.
| Nov 3, 2010
Senior housing will be affordable, sustainable
Horizons at Morgan Hill, a 49-unit affordable senior housing community in Morgan Hill, Calif., was designed by KTGY Group and developed by Urban Housing Communities. The $21.2 million, three-story building will offer 36 one-bed/bath units (773 sf) and 13 two-bed/bath units (1,025 sf) on a 2.6-acre site.
| Nov 3, 2010
Virginia biofuel research center moving along
The Sustainable Energy Technology Center has broken ground in October on the Danville, Va., campus of the Institute for Advanced Learning and Research. The 25,000-sf facility will be used to develop enhanced bio-based fuels, and will house research laboratories, support labs, graduate student research space, and faculty offices. Rainwater harvesting, a vegetated roof, low-VOC and recycled materials, photovoltaic panels, high-efficiency plumbing fixtures and water-saving systems, and LED light fixtures will be deployed. Dewberry served as lead architect, with Lord Aeck & Sargent serving as laboratory designer and sustainability consultant. Perigon Engineering consulted on high-bay process labs. New Atlantic Contracting is building the facility.
| Nov 3, 2010
Dining center cooks up LEED Platinum rating
Students at Bowling Green State University in Ohio will be eating in a new LEED Platinum multiuse dining center next fall. The 30,000-sf McDonald Dining Center will have a 700-seat main dining room, a quick-service restaurant, retail space, and multiple areas for students to gather inside and out, including a fire pit and several patios—one of them on the rooftop.
