Johnson Controls reports that retrofitting buildings for energy efficiency is gaining popularity in the private sector. While public agencies have been completing such retrofits to cut costs for years, private industries are jumping in on the game.
Replacing old boilers and chillers, installing high-efficiency lighting, repairing leaky windows and doors, and installing renewable energy systems are just some ways public entities have saved millions of dollars in fuel costs.
Now the private sector is taking notice, especially with high profile projects such as the $20 million retrofit of New York's iconic Empire State Building. Begun in 2009, the project will reduce energy use by up to 38 percent, cut energy costs by $4.4 million, and reduce carbon dioxide emissions by 105,000 metric tons over 15 years.
Johnson Controls estimates the market potential for commercial retrofits at $18 billion for the next decade. Up to 360,000 jobs could be created as a result of such projects.