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Energy Efficiency Retrofits in Commercial Buildings Will Nearly Double by 2020, Reaching $152 Billion Worldwide

BOULDER, Colo.–(BUSINESS WIRE)–Efforts to retrofit commercial and public buildings to make them more energy-efficient have many different drivers, including a sense of social responsibility to reduce greenhouse gases (GHGs) and carbon footprints, an attempt to retain tenants and gain a market edge in a competitive building market, and, above all, the desire to reduce operational costs by reducing energy consumption. Regardless of the motivation, energy efficiency retrofits represent a rapidly growing market that will benefit the environment, building owners, tenants and communities alike. According to a new report from Pike Research, this global market will expand from $80.3 billion in 2011 to $151.8 billion by 2020.

“Retrofitting existing buildings offers one of the most cost-effective ways for a business to reduce its operating expenses,” says senior analyst Eric Bloom. “Many energy conservation measures can be implemented within strict investment criteria, and a growing number of financial instruments are deepening the scope of energy efficiency retrofits, driving continued investment in energy efficient HVAC, lighting and control systems.”

Western Europe will remain the largest market for energy efficiency retrofits in commercial and public buildings, but its share of world revenues will drop from 41% in 2011 to 37% in 2020. Essentially equaling Western Europe, Asia Pacific, which represented 32% ($26 billion) of the revenue stream in 2011, will increase to 36% ($54.6 billion) by 2020. North American energy efficiency revenues will more than double over the remainder of the decade, increasing to $35.3 billion by 2020. Continue reading

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Singapore, U.S., Australia, Germany Are Trendsetters in Green Buildings

BOSTON–(BUSINESS WIRE)–Energy security, and environmental and livability concerns drive government policy on green-building technologies but eventually cost and affordability determine the extent and pace of adoption, according to Lux Research. The firm ranked 21 countries using these factors to determine the best markets for green buildings.

“Buildings are the spine of the increasingly urban world we find ourselves in, now containing over 50% of the global human population. Buildings use 40% of the world’s energy and account for 40% of the carbon dioxide emissions,” said Aditya Ranade, Lux Research Analyst and the lead author of the report titled, “Policy’s Dramatic Impact on Green Buildings: The Global Hotspots.”

“Policy measures, along with ability to pay, payback periods, and addressable market size, should determine a firm’s decision on which countries to invest precious market development funds in,” he added. Continue reading

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The Building Energy Management Systems Market is Shifting its Focus Toward the Utility Sector

While owners of commercial buildings have been focused on energy efficiency for quite some time, the market for building energy management systems (BEMS) is still nascent.  Building control and automation systems are enabling access to ever increasing amounts of data, and this “big data” is providing significant opportunities for building owners and facilities managers as well as market participants who stand to benefit from transforming it into usable information.  According to a recent report from Pike Research, many of the companies in this rapidly growing market are turning to utilities as a market channel for their products and services.

“There’s been a shift in focus in the BEMS industry toward the utility sector, as budgets for utility demand side management (DSM) programs are expected to grow at double-digit rates through 2015,” says senior analyst Eric Bloom.  “Recent merger and acquisition activity by energy management software providers is one signal of this trend, while other companies, driven by an increasingly stringent regulatory environment for DSM, have entirely shifted their strategy toward BEMS for utilities.” Continue reading

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