Energy Efficiency Improvement Trend Growing
McGraw-Hill Construction released a 2011 report entitled “ Business Case for Energy Efficient Building Retrofit and Renovation” that reveals 78% of business owners intend to upgrade or retrofit their buildings to maximize energy and efficiency within the next two years.
Additionally, while government funding or outside financing can be a major incentive to encourage businesses to make such improvements, the report noted that 85% of current retrofitting projects are being paid for by the companies themselves.
With more businesses, governments and homeowners seeking energy efficiency improvements, construction companies will see the renovation activity industry increase substantially over the next five years, reaching $53 billion by 2014, McGraw-Hill estimates. Meanwhile, new sustainable construction projects may represent as much as 48 percent of the commercial building market by 2014.
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