Despite tough conditions for the construction industry, Pike Research has released a report identifying growth opportunities in the green building and energy efficient housing sector.
In the next decade, the value of work done in energy efficient residential dwellings – properties which are built to exceed the 2009 International Energy Conservation Code by 15 per cent on a kilowatt-hour per square foot basis – will grow sixfold from around US$14 billion now to around US$84 billion in 2020.
The consulting firm, which specialises in clean energy, said the volume of sustainable dwelling space that will be created will exceed 118 billion square feet, with growth for both sustainable new homes and retrofits of existing homes being driven by rising household energy consumption.
While the dynamics of the market will vary from region to region,the Pike report says opportunities will come from a range of areas, including building envelope improvements, lighting, HVAC and major appliances, water heating, energy audits and soft costs associated with energy efficiency.
