We’ve all heard the adage “the squeaky wheel gets the grease,” but there’s a flip side to that cliché: Sometimes the quietest efforts are the most effective. Recently, a series of reports from the Pacific Institute highlighted how California could save approximately 1 million acre-feet of water per year, simply by switching to low-flow fixtures and smart irrigation technologies (www.pacinst.org). Which got me to thinking of what similar fixes are available for communities and businesses interested in energy efficiency.
Last week, Boulder, CO-based, Pike Research, a market research and consulting firm, forecast that residential energy-efficiency is poised for the biggest market growth. Pike Research projects that the residential energy efficiency market will rise by over $10 billion in the next four years ($50.2 billion by 2014). And according to Pike Research, this market expansion will be fueled primarily by upgrades to existing electrical systems along with energy efficient equipment and smart HVAC systems.
“Energy efficiency is stepping into the light after a long period of obscurity,” says Clint Wheelock, Pike Research managing director. “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.”
The key residential energy efficiency categories outlined by Pike Research include:
* The home energy auditing business is a strong indicator of the coming of age for energy-efficient homes. Pike Research 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.
* Energy Star–certified refrigerators and clothes washers will generate revenues of $21.9 billion during the period from 2009 to 2014, under a business-as-usual scenario. In a scenario that includes increased penetration of these high-efficiency appliances, Pike Research estimates that another $11.3 billion could be added to this total.
So what do you think? Does economic strength in these areas automatically guarantee an increase in energy efficiency? And can relatively easy enhancements—like energy audits and energy-efficient appliances—really make a difference?