The market for energy efficiency services and equipment is on the rise as national governments look to reduce energy consumption by improving the efficiency of the building stock. With buildings being one of the largest sources of energy consumption, the opportunity to improve efficiency is significant, ranging from high-efficiency heating, ventilation, and air conditioning (HVAC) systems to the utilization of energy-efficient lighting technologies to business models such as energy performance contracting (EPC) as employed by energy service companies (ESCOs) around the world. According to a new report from Pike Research, the total market for energy efficiency in buildings will reach $103.5 billion by 2017, an increase of more than 50% from the 2011 market value of $67.9 billion.
Archive for the ‘Energy Saving Business’ category
Despite not agreeing legally binding commitments to reduce emissions, the Cancun conference does give more momentum to global, regional and local efforts to address climate change. As a result, the creation of incentives, penalties and trading arrangements in various forms in different markets becomes more likely. The UK’s Carbon Trust have produced this interesting posting.
The outcome of the conference reinforces our view that businesses should proactively address the business opportunities and risks around climate change to maximise shareholder returns.
» Read more: Cancun’s Conference – How Businesses Affected
The UK paper The Guardian carried a great article by Vinod Thomas, director-general, evaluation, World Bank Group, and Kenneth Chomitz, a senior adviser with the Independent Evaluation Group at the World Bank, with the byline of highlighting the barriers to the Cancun Climate Change summit to progress to action.
Often these “Myths” are used to falter and slow down climate change actions and laws.
Please enjoy the article and consider the impact those in the energy saving industry can in the battle against climate change.
Four myths that hold back progress in fighting climate change
Myth No 1: Energy efficiency can’t meet energy needs
Energy efficiency doesn’t get enough respect. “You can’t grow with energy efficiency,” say fans of flashy new power plants, “and you can’t provide energy access to the poor.” Untrue, because people don’t really care about energy, but rather about the light, heat, and transport that it animates. Energy efficiency can provide these services cheaper, faster, and with less environmental damage than new generation.
Indeed, we find that many kinds of energy efficiency offer economic returns that dwarf those of most other development projects. In Ethiopia, for instance, a $5m scheme to distribute compact fluorescent light bulbs obviated the need to spend $100m to lease and fuel diesel power plants. Vietnam, too, has met rapidly growing demand for energy in part through efficiency investments. Promoting energy efficiency right now helps defer the need to build long-lived fossil fuel plants, buying time for wind and solar power to become more cost-competitive.
Greenbiz reports on BSR (Business for Social Responsibility) Survey:
Climate change, human rights and energy efficiency are some of the top priorities in business leaders’ sustainability strategies, according to a survey of BSR Conference 2009 attendees. And just as important, a large majority of companies expect their sustainability budgets will stay the same or increase, making sure they have the money to enact the actions they want to.
The BSR/GlobeScan State of Sustainable Business Poll 2009 (PDF) polled 274 business leaders attending the conference in San Francisco.
When asked to list “very significant” priorities over the next year, 41 percent chose climate change, 32 percent cited human rights, 29 percent said workers’ rights and 26 percent listed water availability/quality.
Reuters London – Global revenues from climate-related businesses such as energy efficiency rose by 75 percent in 2008 to $530 billion and could exceed $2 trillion by 2020, HSBC Global Research estimated on Friday.
In the 2006 Stern Review on the economics of climate change, climate-related revenues were forecast to climb to $500 billion by 2050.