Energy efficient lighting sector reports growth

April 18, 2012

A recent study conducted by lighting professionals at Precision Paragon highlighted the continued growth that has occurred in the energy efficient lighting industry, Green Building Elements reported.

Danielle Stewart, an industry professional and commercial expert told the news source that the sector has seen tremendous growth as many building owners and companies move to a more efficient and sustainable business model.

"Over the last few years, we’ve seen the energy efficient lighting industry grow despite the recession," Stewart told the news source. "This is because more and more people are getting on board with 'going green.' This means they are making lifestyle changes that incorporate energy-efficient lighting, as well as other green technologies into their daily lives."

She cited the Precision Paragon (P-2) survey, noting that it highlights a pattern of growth for 2012 and well into the future.

More than 2,900 energy-efficient lighting professionals across the country were surveyed, and roughly 69 percent of the respondents either met or exceeded their revenue expectations in 2011 and were preparing for further growth in the coming year. Additional staff were needed at many of these companies to meet the demand from businesses for green products and fixtures.

According to the survey, a total of 80 percent of businesses in the sector predicted more opportunities for growth in 2012, both for the industry as a whole and individual companies.

The first quarter saw a brief slowdown, according to the results, but the second, third and fourth all received high percentages in terms of what would be the most lucrative period of the year.

Green Buildings reported that the results of the survey showed that 84.3 percent of companies in the sector believe that they will predominantly use linear fluorescent lighting for relighting projects, while 10.3 percent noted that they would use light emitting diodes (LEDs).

This type of momentum in the energy efficient buildings sector is exactly what the U.S. Department of Energy is trying to foster around the country.

The agency designated an innovation HUB, the Greater Philadelphia Innovation Cluster for Energy Efficient Buildings (GPIC), as the national headquarters for the sector. This effort will rely on the brightest minds from the private sector, energy development companies, government and academia to push the commercial real estate industry to adopt greener building practices.

Research done at the GPIC will and has provided both monetary and environmental motivation for companies in the Greater Philadelphia area.