As the amount of electricity Americans consume increases over the coming years, analysts predict that the number of people practicing residential energy efficiency will grow markedly, helping to keep utility costs in check nationwide.
Pike Research, a company devoted to providing in-depth analysis of global clean technology, released a study that estimates the market for environmentally friendly home products will explode by 2020.
Currently, the market is worth an estimated $14 billion dollars. According to the study, that figure will balloon to roughly $84 billion by the end of the decade.
The researchers looked at real estate data from different regions of the U.S. as well as international markets. They compiled this information and noticed that, across the board, new housing developments have focused on energy efficiency as these homes are generally valued higher among consumers.
The International Energy Conservation Code (IECC) was used as a measurement for the survey in determining what kinds of properties qualify as green structures. Because of a wide array of technologies available to help homeowners accomplish energy efficiency, all sorts of construction may be classified as energy efficient.
For homeowners looking to be a part of the growing trend of a greener lifestyle, their first step in the process should be having a home inspection contractor perform an energy audit on their existing property.