Programs continue to reach new utility customers in Asia Pacific, Latin America, and the Middle East & Africa, while North American utilities work to drive deeper savings
BOULDER, Colo.--(BUSINESS WIRE)--#AdvancedMeteringInfrastructure--A new report from Navigant Research examines the utility and government energy efficiency market, providing global market forecasts for programmatic spending and annual capacity by region and customer segment through 2028.
Where traditional energy efficiency programs focused on replacing lighting systems and appliances, machine learning, artificial intelligence, and advanced metering infrastructure (AMI) are improving the analytics associated with energy savings and allowing for more targeted, strategic implementation of programs. This approach allows the benefits of energy efficiency to move from overall load shaping to targeted relief of transmission and distribution (T&D) infrastructure at critical points on a utility’s energy grid. Click to tweet: According to a new report from @NavigantRSRCH, global electric energy efficiency spending by governments and utilities is anticipated to increase from nearly $30 billion in 2019 to nearly $60 billion by 2028.
“While factors driving the growth of energy efficiency programs vary due to geography, utility market designs, and regulatory landscapes, there is still significant room for growth globally,” says Jessie Mehrhoff, research analyst with Navigant Research. “Programs continue to expand and touch new utility customers in Asia Pacific, Latin America, and the Middle East & Africa, and although program expansion is less of a focus in North America and Europe, utilities are working to design new programs and drive deeper savings in existing programs.”
According to the report, in some regions, new data streams are identifying technologies that could benefit from participation in energy efficiency programs, while new technologies allow for more targeted advertisement of energy efficiency programs to customers more willing and able to participate. In other regions, data streams are finding locational value on the grid to drive energy efficiency as a more widespread approach to load-shaping.
The report, Market Data: Global Energy Efficiency Spending, examines the global energy efficiency market. The study provides an analysis of market issues including drivers and barriers associated with global energy efficiency development. Regional overviews of key energy efficiency developments are included. Global market forecasts for programmatic spending and annual capacity are provided by region and customer segment through 2028. 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 Guidehouse, 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.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Global Energy Efficiency Spending, 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 Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.