North American energy efficiency revenues to double by 2020
July 18, 2012
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 report from Pike Research, this global market will expand from $80.3 billion in 2011 to $151.8 billion by 2020.