It may seem counterintuitive or even surprising, but economic recessions have had a limited effect on planned investments into energy efficiency, renewable energy and smart building technology. Common sense would say that fossil fuels are cheap and that updating/improving buildings is expensive.
However, according to a survey published by Johnson Controls, nearly 64 percent of businesses worldwide have increased investments into energy efficiency, renewable energy and smart building technology as a part of their long-term strategic plan. The survey has been performed for 13 consecutive years by Johnson Controls, which produces fire, HVAC and security equipment for buildings and employs around 105,000 people globally.
In 2010, around the time of the last recession, the survey found that the economic downturn did not have a significant impact on corporate budget outlays for energy efficient technology. This is definitely a positive development as efficiency, renewables and smart building tech are the future.
It is not exactly news to say that most people realize that if things continue on the current trajectory it will most likely spell catastrophe for the planet. This is a key takeaway from the survey. Some of the other findings from the survey are also significant and worth illustrating:
- Sustainability issues remain a key factor for businesses worldwide. Almost three quarters of the survey respondents indicated that reducing their production of greenhouse gases is a key issue for them moving forward. Earning green building status is also important, as almost 80 percent are currently making plans to achieve voluntary certification.
- Resilience is a substantial issue for businesses making infrastructure and energy investments, especially in Germany, the US and Japan. Resilience refers to the ability of a building to weather a storm or a natural disaster, as well as to receive water and energy from a variety of sources. It is not surprising given the apparent, recent increase of natural disasters and the related economic impacts, that 82 percent of survey respondents said it was either very important or extremely important to them.
- Smart building technology is receiving large investments from businesses worldwide, and 70 percent of survey respondents indicated they plan to increase their current numbers. Building control improvements such as the integration of fire/life safety systems, building management systems, security systems and distributed energy resources were some of the most popular among businesses looking to improve their efficiency. Survey respondents also noted that the most significant trends in technology in the next five years would be centered on data analytics, Internet of Things (IoT), and cybersecurity.
Before the global economy really begins to reset and recover from the various impacts of COVID-19, many businesses will have the opportunity to rebuild in a smarter and more sustainable way in terms of infrastructure. If nothing else, the crisis has shown that the future depends on increased investments into building infrastructure, to improve resilience, make a positive impact on public health, and help the environment.
For a no-obligation consultation about how to make an effective investment into the efficiency, resilience or technology that is found in your business, please call 910-791-0480, text 910-612-0053, or email [email protected]
Chris Jones and the team at Green Dot HVAC are committed to provide their clients with a consultative, transparent approach, driven by innovative technology and a diligent work ethic. With a team of highly trained and versatile technicians, a focus on helping clients make informed decisions, and a commitment to deliver substantial value, Green Dot HVAC is a leader in the Southeast North Carolina marketplace. To arrange a free at-home consultation, a repair/installation or simply find guidance about the nuances of modern heating and air conditioning systems, call 910-791-0480 or text 910-612-0052.