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:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.