Market Insight: Commercial Energy & Electrification Attitudes And Trends
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Executive Summary
Improving energy efficiency and electrifying core assets together represent a critical decarbonization pathway for commercial industries. To illuminate organizational trends relating to energy and electrification at businesses with typical commercial energy use (offices, hotels, retail sites, warehouses and multi-purpose buildings) – including priority investment areas, expected levels of progress, and key opportunities and challenges – Verdantix interviewed 78 decision-makers representing the healthcare, hospitality and entertainment, and retail industries. This report should be used by technology and service providers to understand critical commercial trends relating to the energy transition.
Successful decarbonization business cases focus on cutting energy costs
Commercial electrification is a long-term target, not a near-term priority
Over the next five years, commercial power demand will rise significantly
Electrification of commercial assets will proceed at a slow pace over the next five years
Organizations will prioritize high-ROI electrification projects until 2030
Methodology for the Verdantix global corporate survey on energy transition in commercial firms
Figure 2. Commercial organizations are prioritizing energy efficiency interventions to decarbonize facilities
Figure 3. Commercial respondents predict widespread electrification by 2050
Figure 4. Priority assets for electrification across commercial industries
Figure 5. Respondents are split across energy, sustainability and operations functions
Figure 6. Respondents come from three key commercial industries
About the Authors
Connor Taylor
Principal Analyst
Connor is a Principal Analyst at Verdantix. He focuses on delivering research to help senior executives navigate decarbonization decision-making and build effective strategies...
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Ryan Skinner
Research Director
Ryan is a Research Director at Verdantix, where he leads a team of analysts delivering research, data and advisory services that help clients navigate the fast-evolving landsc...
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