Global Industry Analysts, a US-based consultancy, has published new research indicating that the market for Net-Zero energy buildings will reach $48 billion by the middle of this decade. Globally, the power used daily for lighting, cooling, and heating of commercial and residential buildings accounts for 28% of energy-related carbon emissions annually. As an example, the annual use of air conditioners in the US results in nearly 117 million metric tons of CO2 emissions into the atmosphere.
Net-Zero buildings utilize energy efficient technologies and renewable energy systems to lower their carbon footprint. This can be from on-site sources such as solar panels, high-efficiency insulation and windows, and heat pumps, or through sourcing power from off-site renewable sources such as geothermal, solar, or wind. Efficient building construction and design are capable of remarkably reducing carbon output; this includes better air systems, wall construction, and roof use.
The global market for Net-Zero buildings stood at $16.8 billion in 2020, and is projected to reach $47.4 billion by 2026, growing at a CAGR of 18.7% over the next five years. Currently, the largest geographical deployment of decarbonized buildings include the US with 37% share, followed by China at 9%.