Residential energy efficiency is one of the most effective and cheapest tools available to combat climate change and it can also be a great investment.
However, taking the case example of the US market, according to data from industry group American Council for an Energy-Efficient Economy indicates that at historical adoption rates, it will take 500 years to complete whole-home retrofits of all US homes and apartments, compared to 60 years for retrofitting its commercial building stock. One of the main reasons is the hefty upfront costs of reducing energy bills that customers have to bear ranging from $15,000-$20,000. Customer awareness and behaviour, and government policy also play vital roles in boosting the residential energy efficiency market.