Commercial, Energy Efficiency - March 24, 2016
Corporate sustainability is driving the energy-efficient HVAC market, study finds
Corporate sustainability efforts are helping to drive the energy-efficient HVAC market, which is now expected to total $340 billion in global revenue between 2015 and 2024, according to a new report.
"As concerns about the environmental impact of energy generation and uncertainty over future energy prices continue to build, commercial building owners are looking for ways to reduce energy spend," Navigant Research said in a recent news release outlining their report. "This drive for efficiency is increasingly targeting HVAC systems, which can account for roughly 40% of a building’s total energy consumption."
Retrofitting buildings within a corporate portfolio is often one of the most cost-effective ways to achieve both goals and includes making sure building systems, including HVAC, are energy efficient.
", but system cost is still a major consideration before investment," Benjamin Freas, senior research analyst with Navigant Research said in the release. "Most energy-efficient models are at least 15% to 20% more expensive than conventional systems, and while the return on investment for more efficient systems can be substantial, shorter payback periods are required to drive these upgrades."
The report, "Energy-Efficient HVAC Systems for Commercial Buildings," analyzes the global market opportunity for energy-efficient commercial HVAC systems, including unitary systems, heat pumps, furnaces, boilers, variable refrigerant flow systems, chillers, and geothermal heat pumps. The report provides a comprehensive assessment of the demand drivers, business models, and policy and regulatory factors.
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