120 bln square feet of energy-efficient homes to built by 2020
Construction of new energy-efficient homes, and retrofits of existing buildings, will increase at a compound annual growth rate of 42 percent from 2012 to 2020, the cleantech market intelligence firm Pike Research forecasts, producing 118.6 billion square feet of energy efficient residential space and driving an annual market value of USD84 billion by 2020.
As residential energy consumption continues to rise, creating greater demands on power infrastructure and contributing to greenhouse gas emissions, interest in energy-efficient homes is growing deeper and more widespread.
Energy-efficient residential design, construction, and retrofits can take on many guises – as an unrealized aspiration, a nearly cost-prohibitive endeavor, or a branding strategy. According to Pike's report, however, market dynamics will drive strong growth in the development of energy-efficient homes through the remainder of this decade.
“Pike Research defines energy efficient homes as properties that are built to exceed the 2009 International Energy Conservation Code by at least 15 percent on a kilowatt-hour per square foot basis,” said research analyst Brittany Gibson.
“Achieving such energy savings, in new construction or in existing building stock, is a design problem complicated by factors such as local climate, availability of materials, funding, and legislation. In order to achieve this level of energy savings, home builders and retrofitters must adopt a systems approach to home design and construction, integrating all aspects of home assembly and operation.”