The energy efficiency industry is undergoing unprecedented growth. This boom is driven by the increased participation of state and federal authorities, and movement toward a smarter grid. According to two new reports by Colorado-based Pike Research, the smart grid and deep retrofits for the home market are the next big energy efficiency initiatives.
Tax credits, low-cost financing, and other incentives are encouraging homeowner demand for more efficient heating systems, windows and insulation. The Pike report forecasts that the energy auditing market will triple from $8.1 billion in 2009 to $23.4 billion by 2014. Those auditors will recommend home improvements emphasizing efficiency upgrades. Pike Research predicts a $50.2 billion market in the installation of new electrical systems, appliances and major equipment, HVAC systems, roofing, windows and doors and other efficiency improvements by 2014, up from $39.3 billion.
The Energy Star appliances industry could receive an additional $11.3 billion in addition to the $21.9 billion by 2014 that is already forecasted.
The US smart grid project is another mammoth undertaking and it is increasingly focused on cyber security including measures to protect the electrical grid from attack. Research forecasts that from 2010 to 2015 about $21 billion will be invested globally in cyber security for the smart grid.
