Apartment building residents and owners in the U.S. could save nearly $3.4 billion annually by implementing energy efficiency upgrades, according to a new report from CNT Energy and the American Council for an Energy-Efficient Economy.
The report, Engaging as Partners in Energy Efficiency: Multifamily Housing and Utilities, indicates that upgrades can generate energy cost savings of 15% to 30% in buildings with five or more residential units. The report also found that energy utilities play a critical role in unlocking these savings through the use of rebate programs and other financial incentives. Utilities' contributions to energy efficiency programs are expected to increase from $4.3 billion in 2009 to as much as $12 billion annually by 2020.
Apartment buildings represent only a tiny fraction of the untapped opportunity available in the energy efficiency sector. An estimated $130 billion worth of energy-saving opportunities go unrealized in the U.S. each year, according to a 2009 McKinsey & Company report.
Much of this untapped opportunity exists in the commercial sector. Commercial buildings account for about 20% of energy use in the U.S. and are frequently eligible for utility rebate programs. As businesses nationwide seek to reign in their operating costs, many are requesting energy efficiency makeovers from companies such as Blue Earth, Inc. (OTC BB: BBLU).
BBLU provides lighting, refrigeration and HVAC retrofits for commercial buildings. The Company is growing through an M&A strategy in which it acquires companies with established customer bases in one technology area and then cross-sells its other technologies to those customers. BBLU's most recent acquisition, Xnergy, has a blue-chip client base that includes Abbott Labs (NYSE: ABT), Pfizer (NYSE: PFE) and Boston Scientific (NYSE: BSX).
BBLU signed two agreements in late 2011 that should accelerate revenue growth this year. The Company will work with US Energy Affiliates to provide energy efficiency upgrades to gas stations and hotels in California. BBLU is also partnered with Gexpro and eCORE Technology on a $60 million program to retrofit more than 2,000 gas stations and convenience stores with energy-saving technology.
You can learn more about BBLU by watching an interview with its CEO, Dr. Johnny R. Thomas, from RedChip's Small-Cap New York Conference. BBLU is also scheduled to present at our virtual conference, taking place February 15-16, 2012. Register today to reserve your spot.
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