Improving energy efficiency is one of the best ways for businesses and institutions to both lower their energy costs and reduce harmful greenhouse gas emissions. Improving energy efficiency can also make businesses more competitive and help institutions such as hospitals and universities reallocate funds to staffing, programs and needed equipment. Energy efficiency is a win-win situation.
So it should come as no surprise that planned investment in energy efficiency technologies stands at an all-time high according to the 2016 Energy Efficiency Indicator (EEI) survey, conducted by U.S.-based energy efficiency and automotive firm Johnson Controls. Of the 1,200 facility and energy management executives surveyed, 72% said they expect their company to invest more in energy efficiency and renewables in the next year. This is a steep rise in comparison to a similar survey in 2013, when only 42% of companies planned to increase their investments.
Improving industrial energy efficiency is one of the most economically effective means of combatting climate change. According to scenarios from the International Energy Agency, more than 40% of the greenhouse gas emission reductions required to limit increases average global temperature within two degrees Celsius by the end of the century will have to come from increases in energy efficiency.