European market for energy efficiency to reach 50 billion euros by 2025 – consultancy
Clean Energy Wire
The European market for energy efficiency solutions is set to grow rapidly, reaching a volume of around 50 billion euros by 2025, according to a study by consultancy Roland Berger. “Rising energy costs and growing climate change commitments are increasing the pressure on companies to be as efficient as possible in their resource consumption,” the consultancy says in a press release (in English). The energy efficiency sector is set to grow at a rate of around 8 percent per year and double in size by the middle of the next decade, it adds. Market growth in Germany, which accounts for around a quarter of total European energy efficiency business, is expected to reach 7 percent in the coming years.
A recent survey by the University of Stuttgart found that German companies were spending more than ever on energy efficiency. However, the country is still a long way off its energy efficiency targets, according to Germany’s federal authorities. Germany is supposed to cut primary energy use by 20 percent by 2020, compared to 2008, but is on track for just 6 percent. That could force Germany to buy billions of euros worth of emissions rights from other countries to comply with EU climate goals.