Adoption of remote monitoring, control, and data analytics is enabling new business models and service solutions while encouraging energy efficiency spend
A new report from Navigant Research analyzes global government and utility energy efficiency program spending and capacity, examining the related market issues and providing market forecasts for capacity and revenue, broken out by region and segment, through 2026.
Each year, governments and utilities allocate billions of dollars toward energy efficiency initiatives, while businesses and residential consumers also spend on energy efficiency improvements to their homes and facilities. Data trends indicate that energy efficiency spending is expected to increase, and an uptick in mergers and acquisitions of energy efficiency services firms signals that utilities, technology providers, and energy equipment manufacturers are all stepping into the market. Click to tweet: According to a new report from @NavigantRSRCH, global government and utility energy efficiency spending is expected to grow from $25.6 billion in 2017 to $56.1 billion in 2026.
“The largest region of spending is expected to be Europe, reaching $21.4 billion in 2026 due to an increased emphasis on reducing energy consumption and related emissions,” says Brett Feldman, principal research analyst with Navigant Research. “Globally, as energy efficiency spending and savings expand, utilities and solution providers will have to adjust their business models to find new ways to profit and create value for consumers, or they will risk losing revenue and market share.”
In some markets, low energy demand outlooks have prompted traditional energy utilities to offer energy services as a way to expand their revenue, according to the report. In addition, growth in the use of remote monitoring, control, and data analytics is enabling new business models and service solutions, further encouraging growth in energy efficiency program spending.
The report, Market Data: Global Energy Efficiency Spending, examines global government and utility energy efficiency program spending and capacity. The study provides an analysis of the market issues, including drivers and barriers, associated with government and utility energy efficiency programs. Global market forecasts for capacity and revenue, broken out by region and segment, extend through 2026. The report also examines the energy efficiency policy performance rankings and growth trends of key global regions and countries. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: Global Energy Efficiency Spending, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.