Often Overlooked Sector Has Huge Potential in Energy Savings
What would you do with a surplus of cash? In times of capital market uncertainties, setting aside money for future building retrofits is a smart and practical idea.
This article by Energy Manager Today highlights an often overlooked sector – the energy efficiency retrofits of small to medium-sized properties. The sheer size of this market is an indicator of impact; it is projected to grow from $24B to $38B over the next 10 years. The savings are also enormous, with SMB’s expected to see a reduction in energy consumption from 27 percent to 59 percent (depending on building type). With these numbers, businesses in aggregate are poised to recapture several billions of dollars of wasted expenditures to reinvest into their businesses.
The recommendations are simple and start with identifying waste. Start by understanding what processes and operations are critical to your success and invest in efficient use of energy to achieve those outcomes. Consumption that does not drive your company towards those goals should be reduced or eliminated. By working together, we can capture our wasted utilities and reinvest those dollars into economic activity.