What is driving building energy efficiency investment in Australia?
A Johnson Controls study has revealed the top three drivers for building energy efficiency investments, the top three energy efficiency measures implemented in the past 12 months and the top three energy management practices already adopted in Australia.
Australian building executives have signalled an increased interest in energy efficiency, according to results from the sixth annual Johnson Controls Energy Efficiency Indicator (EEI) survey.
The vast majority of property decision-makers (80 percent) are paying more attention to energy in 2012 than in 2011, and 79 percent say energy management is very or extremely important to their organisations. Notably, 46 percent are planning to increase spending over the next 12 months.
Australians cited increased asset value as a top-three driver for efficiency investments. The UK was the only other market globally where building asset value ranked so highly. Also, almost one in four executives said they were willing to pay a premium for space in a green certified building.
Plans for green building certification grew about 50 percent last year – with 27 percent planning to pursue green certification on new construction projects and 41 percent planning to certify existing buildings.
One third (35 percent) stated that tax credits/incentives or rebates were the most effective government policy driving energy efficiency investments, followed by low interest financing for energy upgrades (20 percent). These policies address the greatest barrier to investing in energy efficiency identified in the study, which is a lack of funding to pay for improvements (29 percent).
Other results from the 2012 Energy Efficiency Indicator survey revealed:
- the top three energy efficiency measures implemented in Australia in the past 12 months were lighting improvements (67 percent), water efficiency improvements (57 percent), and HVAC and/or controls improvements (50 percent); and
- the top three energy management practices already adopted in Australian respondents’ facilities are tracking and analysing energy data (44 percent), performing energy audits of facilities or equipment (41 percent), and measuring and verifying energy project savings (36 percent).
The EEI survey is managed by the Institute for Building Efficiency, a Johnson Controls initiative that provides information and analysis of technologies, policies and practices for efficient, high-performance buildings and smart energy systems. This is the second time Australia has been included in the Global EEI survey.
The 2012 EEI Australia results can be found here.