Published on February 6th, 2012 | by Zachary Shahan0
Zero-Energy Building Market to Hit $1.3 Trillion by 2035
Following up on the Las Vegas net-zero house story Charis just wrote, it looks like such stories about net-zero homes may get really common in the coming years (sorry, we might not cove them all). A new report published by Pike Research finds that the net-zero buildings market should hit a whopping $1.3 trillion by 2035.
“As green building practices become more commonplace in the global construction industry, the goal of designing zero energy buildings, or buildings that consume as much energy as they produce through on-site and renewable energy systems, has emerged as the next major frontier,” associates at Pike Research write. “A number of countries and regions have already established long-term targets and regulations requiring zero energy building construction that will come into effect over the coming years, some as soon as 2016.”
Worldwide revenue from the market is projected to hit $690 billion by 2020 and then will nearly double by 2035. “That represents a compound annual growth rate of 43%, with much of that growth occurring in the European Union.” (Suprised?)
“Following the surge in LEED and other green building certifications worldwide over the last few years, zero energy building has emerged as the ‘holy grail’ in green building design,” says research analyst Eric Bloom. “Technically, zero energy building design is feasible for many building types in many regions, but concerns about the upfront cost continue to impede it in the market.”
Europe Leading the Way (Again)
Well, it’s no secret that the European Union (EU) is leading the way in global warming action and progressive energy policies. In this arena discussed above, the EU’s Energy Performance of Buildings Directive (EPBD) is driving force. The EPBD “governs building codes” and “will require nearly zero energy construction in public buildings by 2019 and in all new construction by 2021.”
The good news is that the U.S. and Japan are said to be following in the EU’s footsteps and are in the process of developing similar requirements.
Of course, as we’ve written more times than you can imagine here on CleanTechnica, renewable energy and energy efficiency building practices may have a larger upfront cost, but they pay themselves off down the road. So, these new building regulations should result in pretty tremendous energy and financial savings for hundreds of millions of people around the more in the coming decades.
Pike Research Report
Want more info on this matter?
“Pike Research’s report, ‘Zero Energy Buildings’, provides data on the size and growth of the market for zero energy building markets, including HVAC systems, glazing systems, wall and roof construction, renewable energy systems, and construction soft costs, from 2011 through 2035. The study also includes a qualitative assessment of major drivers and trends for zero energy buildings in key markets, including both commercial and residential zero energy buildings. It also provides a discussion of the individual technology elements associated with zero energy building, as well as the design challenges that the AEC (architecture/engineering/construction) service providers will face in delivering zero energy buildings.”
If you don’t want that much more info, you can read the executive summary.