In a largely stagnant economy, U.S. organizations are making tough choices on which initiatives make the budget. According to a new study released by Schneider Electric, energy efficiency programs are making the cut.
The survey, conducted at Schneider Electric’s Xperience Efficiency events, reveals that 63% of respondents had invested in energy efficiency programs within the past 12 months, while 43% plan to increase their investment for the upcoming year. The two most common energy management practices that respondents have recently adopted were data tracking and analysis.
What forces are driving these energy investments? The majority of respondents report energy cost savings as the biggest factor, with government incentives coming in second. Government policies and standards, executive mandates, and brand image were also cited as benefits.
Surveyed energy leaders also shared their thoughts on which energy management practices would take hold in the next five years, with building automation, efficient lighting, and data center efficiency coming out on top.
Other significant findings include:
- 41% of those surveyed cited tax credits or incentives as the energy policy that has had the greatest impact on improving energy efficiency in their organization.
- 60% of respondents said that they have someone in their organization specifically responsible for energy management.
The survey included energy leaders in both the public and private sectors and was intended to provide insight into the future of energy efficiency and reveal challenges that many organizations face.
