Firms in Emerging Economies Expect Big Energy Changes by 2014
By 2014, 55 percent of energy decision-makers at large firms operating in emerging economies believe there will be significant to transformative changes in the way their firm manages energy, according to a Verdantix report.
This figure is eight percent higher than energy leaders in developed economies.
Global Energy Leaders Survey 2012: Emerging Economies also found firms from emerging economies move energy management up the corporate ladder, with 75 percent of executives surveyed saying they make energy-management decisions at a global, national or divisional level — 4 percent higher than those from developed nations.
The report cites India as an example, with its increasing gap between energy consumption (growing at an average rate of 3.3 percent per year) and energy generation capacity (India faced a shortfall of 200 GW in 2012).
Verdantix surveyed 250 energy decision-makers at $250 million-plus revenue firms across 21 industries in 11 countries with emerging economies, such as Brazil, China, India, Russia and nations in the Middle East. The analyst firm asked these executive about budgets, priorities and perceptions of 62 energy management suppliers, and found large companies are giving energy and energy management issues greater consideration.
Verdantix forecasts that energy decision-makers within emerging economies are planning for significant changes, and energy management suppliers will benefit.
According to the report, 75 percent of energy decision-makers interviewed from emerging economies have plans underway to boost demand response; 21 percent higher than those in developed economies.
Emerging-economy companies’ average annual spending on electricity and fuel was $22.2 million, compared to $31.8 million for firms from developed economies.
The survey also found that emerging economies favor waste-to-energy for large-scale renewable applications. In 2012, 55 percent of firms in emerging economies are investing in on-site renewables, compared to 59 percent of their developed-economy counterparts.
Verdantix also asked the executives about their purchase plans for 62 energy management suppliers in four categories: consulting, technology services, automation and controls, and software. Energy management software providers have the highest existing engagement, according to the report, and increased brand awareness is required before firms make purchase plans.
A Verdantix report published earlier this month said Enablon, IHS and SAP lead the environmental management software market.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Solutions to Help Reach Building Energy Management Goals
- Advanced Fans Cut Datacenter Energy Requirements
- Renew Financial Acquires FL PACE-Lender EcoCity Partners
- Solar Canopies in Maryland, California
- Increased Demand for EVs Driving Global Battery Management System Market
- UCLA Creates The L.A. Energy Atlas
- Santa Cruz Saves with Six Battery Tower
- Using the IoT to Drive Power Plant Efficiency