Steady Growth Predicted for Zero Energy Building Market
According to a new report by Technavio, the global zero energy buildings market is expected to grow at a CAGR of around 39% by 2021. A summary of the report titled “Global Zero Energy Buildings Market 2017-2021” was outlined in a recent issue of Energy Manager Today, an online daily trade publication for the energy industry. The U.S. Department of Energy says a ZEB (zero energy building) produces enough renewable energy to meet its own annual energy consumption requirements, thereby reducing the use of non-renewable energy in the building sector. ZEBs use all cost-effective measures to reduce energy usage through energy efficiency and include renewable energy systems that produce enough energy to meet remaining energy needs. Buildings are known to consume large amounts of energy – estimates put the total at 40% of energy use worldwide! So, it only makes sense to take steps to tame the energy monster. In recent years there has been a surge in the number of zero energy buildings across the country. In fact, according to newbuildings.org, the number of zero-net energy (ZNE) commercial buildings in the United States doubled between 2014 and 2017. Here’s just a few examples:
- The state of Oregon formed a coalition to advance the rapid adoption of zero energy building standards in that state. Others are sure to follow.
- Cornell University is embracing net zero in a big way on its New York Roosevelt Island campus. The university opened the world’s largest passive house dormitory building, called “The House,” last fall and has broken ground on the Bloomberg Center, which will be LEED Silver and Net Zero.
- Lockport, IL is planning an entire Net Zero development, Serenity Landing, which will include 500 homes as well as a shopping center and a charter school.