An article from Business Wire on the Yahoo Finance website reports about a new study from Navigant Research that analyses that programmes to promote energy efficiency globally are expecting to have significant growth over the upcoming decade.
Global Government and Utility Energy Efficiency Program Spending is Expected to Exceed $56 Billion in 2026, According to Navigant Research
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. According to a new report from Navigant Research, 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.