Menu 0
Loading

Sorry, Your Browser Is Not Supported

You can still browse the site but some services may not work properly. This site requires Google Chrome, Firefox, Safari or Internet Explorer 10 and above. For mobile devices use an HTML5 capable browser.

Download Chrome

Energy Efficiency Retrofits for Commercial Buildings Could Save $41.1 Billion per Year in Energy Costs, Says Pike Research

Commercial building space in the United States covers a total of 79 billion square feet, and buildings are one of the leading sources of energy consumption and carbon emissions. With more than 80% of commercial buildings being more than 10 years old, they also represent a significant opportunity for energy savings if today's best practices are applied for efficiency retrofits. According to a new report from Pike Research, if all commercial space built as of 2010 were included in a 10-year retrofit program, the savings in energy expenses would have the potential to reach more than $41.1 billion each year. However, despite these promising numbers, Pike Research's analysis finds that the actual market for energy efficiency retrofits is only a small fraction of the potential.  The best-funded opportunities for retrofits today are major upgrades in institutional buildings, especially in federal buildings. This market, already strong because of federal policy mandates and creditworthiness, received a boost from the ARRA. However, federal non-industrial buildings comprise less than 3% of existing commercial space, and the largest untapped potential is for energy retrofits in private commercial buildings. An Executive Summary of the report is available for free download on http://www.pikeresearch.com/