Most building owners have more pressing concerns than saving energy. For innovative heating, ventilation and air conditioning (HVAC) systems to achieve high market penetration in coming years, short payback periods are required.
By Richard Martin, Pike Research
The main objective of most HVAC installations and retrofits over the next five years will be reduced energy costs: globally, 80% of decision-makers consider energy cost savings very important or extremely important in planning future HVAC changes, as reported in a recent survey conducted by Johnson Controls.
According to a recent report from Pike Research based in Boulder, Colorado, HVAC innovation over the next five years will be driven by cost savings from more efficient energy use and pressure to reduce greenhouse gas (GHG) emissions. In addition, regulatory shifts, including more stringent codes and LEED requirements, will enable emergent HVAC technologies, which in some cases have been available for many years, to achieve market traction at last.
Advanced HVAC innovations can achieve energy cost savings of well over 50% by assembling commercially available components in unconventional arrangements.
“The next generation of energy efficiency will come through incremental improvements to existing HVAC technologies,” says research analyst Eric Bloom. “But there is a great deal of untapped potential for innovation and the adoption of new technologies, such as geothermal heat pumps, that will transform the way buildings function.”
While technologies such as building energy management systems, thermal energy storage, underfloor air distribution, geothermal heat pumps, and evaporative cooling for rooftop units occupy only a small portion of the present market today, Pike Research expects their growth to accelerate over the next few years. Revenue from ice-based thermal energy storage systems on rooftops, for example, will expand at a compound annual growth rate of 84% between 2010 and 2015, reaching almost $171 million. The spread of these innovative technologies will enable building owners to actively manage energy cost as an asset, rather than a fixed cost.
Pike Research’s report, “Energy Efficient HVAC Systems“, explores emerging HVAC innovations for the commercial building market, including building energy management systems, underfloor air distribution, active and multiservice chilled beams, and onsite ice-based thermal energy storage. The study includes an examination of market drivers and challenges, technology issues, profiles of key industry players, scenarios for market adoption, and forecasts for each sector. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’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 the Smart Energy, Smart Grid, Smart Transportation, Smart Industry and Smart Buildings sectors.