Dec. 10, 2012: Government Policy, Incentives Will Combine to Drive Energy Efficiency Retrofits
BOULDER, Colo. — While most energy efficiency retrofits take place because the building owner is looking to reduce energy costs, government policy and incentives are a growing influence. According to a report from Pike Research, a part of Navigant’s Energy Practice, the combination of government policies and financial incentives will drive rapid growth in retrofits over the remainder of the decade. The firm forecasts that the global market for energy efficiency retrofits in the commercial building sector will expand from $80.3 billion in 2011 to $151.8 billion by 2020.
Federal, state, and city governments are providing incentives to those who may not previously have considered retrofitting their commercial properties for increased energy efficiency.