Net Zero Energy Buildings Market Growth, Segment Analysis and Future Scope
The net zero energy buildings market is projected to reach $2,106.6 million by 2024 by P&S Intelligence.
By: P&S Intelligence
Due to the growing concerns regarding the adverse effects of climate change and need to reduce the dependence on fossil fuels, the construction of residential and commercial NZEBs is gathering wind. Commercial buildings generally have more floor space, which increases their construction value. To curtail energy generation through fossil fuels, governments across the globe are initiating policies to increase the construction of NZEBs. Owing to the growing interventions by governments to reach the set targets of renewable energy usage, NZEBs will become popular in the residential sector too.
To construct NZEBs to reduce the carbon footprint and preserve the environment, an array of equipment is required. This includes lighting systems, insulation panels, heating, ventilation, and air conditioning (HVAC) systems, and solar photovoltaic (PV) panels. Of these, the demand for solar PV panels is increasing tremendously in commercial NZEBs, as the latter require a substantial amount of energy for all the apparatus inside. PV is the most-cost-effective and easy-use technology to produce clean energy, which is why it remains ever popular.
Considering the performance and future of the net zero energy buildings market (https://www.psmarketresearch.com/
Therefore, the rising awareness about global warming and the impact of fossil fuel consumption will increase the construction of NZEBs, which is also backed by the strong government regulations and construction targets set by international associations.