Pike Research forecasts European green building space to quadruple by 2016

October 7, 2011

According to forecasts by Pike Research, the increased use of energy efficient technology and electricity consumption reduction models by member countries of the EU could help the area quadruple its green building space by 2016.

The release from Pike Research outlined how the member nations were adopting "20-20-20" targets that call for 20 percent changes in the increase of renewable energy, cuts to overall consumption and reductions in greenhouse gases.

"Not only are energy prices currently high, but price volatility and future carbon legislation present significant risks to organizations as future energy costs could rise unpredictably," said research analyst Eric Bloom. "As a result, the percentage of total building space that is certified green will increase from less than 1 percent in 2010 to more than 2 percent in 2016."

The release noted that EU-level policy initiatives will spearhead the movement, and help companies to work with local government to implement the changes.

America is also trying to capitalize on the usage of government policies to enact change. The Greater Philadelphia Innovation Cluster for Energy-Efficient Buildings project (GPIC) is located at the Philadelphia Navy Yard, and will serve as the living laboratory for the design and development of energy efficient building technology.