Codes driving Zero Energy Building market growth
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As zero energy building (ZEB) solutions are being pursued by governments, corporations, and individuals to minimize the carbon footprint of their buildings, the market could reach $1.4 trillion in the next 20 years.
A ZEB uses as much energy over the course of the year as it generates from onsite renewables. Also called net zero energy buildings and, in the European Union (EU), nearly zero energy buildings (nZEBs), ZEBs bring together existing energy efficient technologies to form a high-performance building. Today, hundreds of pilot ZEBs, encompassing commercial and residential buildings of all types (retail, office, educational, government, etc.), are being developed, many as pilot projects to showcase technology.
According to Navigant Research, global ZEB revenue is expected to grow from $629.3 million in 2014 to $1.4 trillion by 2035.
While several pilots are trying to prove the investment savings in lower energy bills, a stronger driver for the adoption of ZEBs is regulation. Policies like the EU's Energy Performance of Buildings Directive (EPBD) and California's evolving Title 24 building code are forcing ZEB markets to come into place for new commercial, new residential, and retrofitted commercial space.
One notable challenge is the variety of definitions of a ZEB and the lack of a single standards body to identify what success looks like. Although the global outlook for ZEBs is strong, the market will start slowly.
A new Navigant Research report defines and analyzes the global market for ZEBs with a focus on six product and service categories: lighting, walls and roof, glazing, heating, ventilation, and air conditioning (HVAC) systems, renewable energy, and soft costs. The study provides an analysis of the region-specific and worldwide market issues, including drivers and barriers, associated with ZEBs. Global market forecasts for revenue, broken out by region, product/service, and development type (commercial construction, commercial retrofits, and residential), extend through 2035. The report also examines the key technologies and services related to ZEBs, as well as the competitive landscape.
Read more about the report here.
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