By Greentech
Lead Team: Worldwide revenue from zero energy buildings will grow with a 43
percent of compound annual growth rate to reach $690 billion by 2020 and nearly
$1.3 trillion by 2035.
Pike
Research said strict regulations requiring zero energy building construction
adopted by countries and regions drive this rapid growth. These regulations
will accelerate adoption around the world, causing the industry to undergo a
significant transformation in the coming years.
Much of that
growth is occurring in the European Union. European Union’s Energy Performance
of Buildings Directive (EPBD), which governs EU building energy codes, will
require nearly zero energy construction in public buildings by 2019 and in all
new construction by 2021.
Similar
regulations have come into effect or are being discussed in the United States
and Japan. These new building codes will drive significant investment in zero
energy building technologies over the next few decades.
Green
building practices have become more commonplace in the global construction
industry. The goal of designing zero energy buildings, or buildings that
consume as much energy as they produce through on-site and renewable energy
systems, has emerged as the next major frontier.
“Following
the surge in LEED and other green building certifications worldwide over the
last few years, zero energy building has emerged as the ‘holy grail’ in green
building design. Technically, zero energy building design is feasible for many
building types in many regions, but concerns about the upfront cost continue to
impede it in the market,” said research analyst Eric Bloom.