China offers significant potential for U.S. energy efficiency companies
Being the world's largest building construction market, China can offer many business opportunities for American companies specialized in energy efficiency, a U.S. industry expert said.
"There are great opportunities in China to design and construct new buildings that are very energy efficient," Clay Nesler, vice president of global sustainability and industry initiatives in Johnson Controls, told Xinhua.
A global company with energy efficiency solutions as one of its core businesses, Johnson Controls deems the Asia-Pacific region, particularly China, as its most important growth market, he said. The Wisconsin-based firm launched its Asia-Pacific headquarters in Shanghai last year.
Enterprises and universities from the world's two largest economies have entered into close cooperation under the U.S.-China Clean Energy Research Center Building Energy Efficiency Consortium (CERC-BEE), said Nesler, who also served as chair of the Industrial Advisory Board of the consortium.
In the coming decade, half of all the new buildings in the world would be built in China, said Nesler, leading to a big increase in building energy consumption.
As part of its 13th Five-Year Plan for the 2016-2020 period, China set out binding targets that by 2020 that at least 50 percent of all newly constructed buildings in urban areas should be certified green buildings, and more than 60 percent of the existing urban residential buildings should be upgraded to be energy efficient.
In Nesler's view, this brings forth massive market potential for the industry of building energy efficiency. It has been projected that the Chinese market volume for this industry could reach $36.3 billion by 2020.