Navigant Research estimates that the retrofit market for small and medium (size) commercial buildings (SMCBs) – those as large as 100,000 square feet – will grow from $24.1 billion this year to $38.6 billion in 2025.
The press release points out the diversity of these structures and claims that the category has not seen the investment in energy efficiency of larger buildings. The challenges have been lack of customer education, the perceived riskiness of retrofit financing and the split in incentive between owners and tenants.
However, the focus is expected to move to this sector as the larger building market becomes saturated. Cumulatively, the release points out, the SMCB market is the largest.
Last year, a round table reported on at Consulting-Specifying Engineer concluded that the energy profile of commercial buildings is changing.