In an era of rising energy costs and growing environmental concerns, energy retrofits are becoming the go-to solution for homeowners, businesses, and municipalities looking to reduce their carbon footprint while saving money. The energy retrofit industry is growing remarkably as businesses, governments, and organizations embrace the shift toward sustainability. With increasing environmental awareness and a focus on energy efficiency, commercial and public property owners prioritize upgrades. Energy retrofitting involves modernizing existing buildings with technologies like HVAC, lighting, insulation, renewable energy systems, and monitoring tools to improve energy efficiency. Whether motivated by cost savings or a commitment to combating climate change, the benefits of energy retrofits are profound. If this momentum continues, the retrofit industry will play a pivotal role in creating a greener, more energy-efficient future.
Energy retrofit technologies encompass a variety of systems. HVAC, lighting design, electricity submeters, and green roofing all fall into this category. Energy retrofitting refers to any mechanisms or systems that directly reduce energy usage. Overall, Energy Retrofits for Commercial and Public Buildings: Global Markets are expected to grow to nearly $191.3 billion by 2029 at a compound annual growth rate (CAGR) of 7.3% from 2024 through 2029. In the United States, this growth is fueled by government incentives, stricter building codes, and corporate sustainability goals. Among the different technologies, HVAC upgrades and lighting retrofits have seen the widest adoption, but renewable energy solutions like rooftop solar are also gaining traction. As technology advances, green roofing will be heavily adopted in the commercial sector, especially in large cities.