HVAC Breaking News / News

Oct. 15, 2012: Residential Energy Efficiency Market to Reach Nearly $84 Billion per Year by 2020

BOULDER, Colo. — The global market for energy efficient housing is forecast to expand rapidly over the remainder of the decade, growing from an annual market value of $14 billion in 2012 to almost $84 billion in 2020, according to a report from Pike Research, a part of Navigant’s Energy Practice.

Globally, more than half of building energy consumption comes from residential buildings, noted Pike Research. The firm stated that the rising energy consumption of the housing sector, which has an impact on nearly every aspect of a country’s economy, is driving diverse and increasing interest in residential energy efficiency for both new homes and retrofits of existing homes.

“The dynamics of the energy-efficient housing market vary widely across regions and countries,” said research analyst Brittany Gibson. “It has yet to be determined whether or not energy efficient homes — and all the products and services used in them — can be a savior for sluggish housing markets in Organisation for Economic Co-operation and Development (OECD) countries, or provide a demand-side tool to help control rising electricity demand, as it might be for rapidly growing economies like China and India.”

Adding to the complexity of this sector is the fact that definitions and characteristics of energy efficient housing vary widely, as well. The strategies for designing and constructing energy efficient homes can employ a wide range of technologies and services, according to the report, making each energy efficient home potentially different from the next. However, the International Code Council has established a set of design principles which help define energy efficiency in homes and seek to advance its incorporation globally. The International Energy Conservation Code (IECC) sets minimum design energy performance standards for a variety of global climate zones. The IECC has been adopted in many territories and also serves as the foundation for other nationally developed codes.

Publication date: 10/15/2012

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