Oct. 16, 2013: ESCO Market Is Forecast to Reach Nearly $8.3 Billion by 2020
Over the Next Seven Years Growth Is Expected to Resume
“Over the past two years, ESCOs have found it difficult to attract customers and convert backlog into revenue,” said Eric Bloom, senior research analyst with Navigant Research. “The difficulties imposed on key customer segments, such as municipalities, by weak economic conditions across the United States have constrained demand. Over the next seven years, though, growth is expected to resume as energy efficiency measures take effect across a broad swath of the economy.”
The federal sector, for example, which has long been an important part of the ESCO market, will undergo significant growth, thanks to a number of supportive measures including the 2011 Better Buildings Initiative, which aims to provide $2 billion of energy performance contracts in the federal sector by the end of 2013. Other sectors, such as commercial and industrial firms and public housing, will also start to expand once broader economic conditions improve, according to the report.
Publication date: 10/14/2013