Feb. 8, 2010: Residential Energy Efficiency Market Poised for Strong Growth, Says Study
“Energy efficiency is stepping into the light after a long period of obscurity,” said managing director Clint Wheelock. “A number of factors are converging to make energy efficient residential products and services a hot sector over the next several years. These drivers include increased environmental awareness among consumers, government incentives, utility energy efficiency programs, and new offerings and rebates from product manufacturers.”
According to Pike Research’s analysis, home energy auditing is a strong indicator of the coming of age of the residential energy efficiency market. It forecasts that this market will nearly triple in size, from $8.1 billion in 2009 to $23.4 billion by 2014.
The energy efficient home improvement market is forecast to increase from $38.3 billion in 2009 to $50.2 billion by 2014. This category includes upgraded electrical systems, appliances and major equipment, HVAC systems, roofing replacements, and window/door replacements.
Publication date: 02/08/2010