A U.S. research group says the fanfare over banner years for solar, wind, and energy storage investments around the world overlooks the real advanced energy market leader: building energy efficiency.
While solar revenues grew 21% year-over-year to reach US$22.6 billion last year, storage revenues “grew twelvefold,” and revenue from wind soared by 75%, building efficiency technologies “grabbed the biggest share of revenues, at $63.6 billion globally and $52.8 billion in the U.S.,” Advanced Energy Economy (AEE) reports. Investments in improved building efficiency accounted for 30% of what the group estimates to be a US$1.4-trillion global advanced energy market.
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AEE Group Vice President Bob Keough said the growing focus on energy “demand destruction” over new generation is partly explained by building managers’ growing embrace of the “Internet of things.” This enables automated, real-time control of heating, lighting, ventilation, and other energy-consuming systems that have been estimated to account for as much as 40% of North American greenhouse gas emissions.
