BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the North American energy efficiency implementation market, providing market forecasts, segmented by energy sector and country, through 2028.
As the global electric power industry shifts toward a cleaner, distributed energy ecosystem known as the Energy Cloud, energy efficiency programs are also evolving. Electric energy efficiency in North America is moving to integrate other distributed energy resources (DER) to help ensure grid reliability, meet state and provincial efficiency requirements, and help some localities meet their emissions reduction targets or other energy goals. Click to tweet: According to a new report from @NavigantRSRCH, annual energy efficiency spending in North America is expected to reach nearly $11.3 billion in 2028, with a compound annual growth rate of 4.6% over the forecast period (2019-2028).
“The developing use cases and the increasing integration of utility energy efficiency programs with DER suggest continued growth of energy efficiency over the coming decade as more connected devices come online, and utilities simultaneously work to ensure grid reliability,” says Brett Feldman, research director with Navigant Research.
According to the report, decreasing technology prices and the possibility of third-party program administration—vendors and service providers that contract with utilities or other program administrators to manage energy efficiency programs—are also driving energy efficiency spending in North America. While steady growth is expected to continue through the decade, regulatory inconsistency, tight pricing margins, and a market saturation of energy efficiency technologies present challenges.
The report, North American Utility Energy Efficiency Program Implementation, analyzes the North American energy efficiency implementation market. The study examines drivers behind the newly developing business models for energy efficiency as well as implementation challenges. North American market forecasts, segmented by energy sector and country, extend through 2028. The report also profiles key energy efficiency implementers and provides recommendations for both implementers and utilities looking to expand their offerings in the evolving energy efficiency space. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, North American Utility Energy Efficiency Program Implementation, 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.
