In December 2014, Ecova released the findings of its 2015 Energy and Sustainability Predictions survey to better understand what’s on the minds of those involved in energy and sustainability management. We delved deeper into the responses from the nearly 75 retailers who participated in the survey to uncover opportunities and challenges specific to the retail industry for the year ahead. Take a look at what we found.
RETAILERS REFOCUS ON LONG-TERM STRATEGY
Against the backdrop of rapid economic degradation in 2008, retailers turned to energy efficiency investments en-masse in an effort to reduce costs. As a result, the retail industry emerged as a leader in energy efficiency improvement, which it has maintained every year since.
Today, cost is still the number one driver of energy and sustainability initiatives in the retail industry, followed by regulation and investor/stakeholder concerns. Historically, many retailers have focused on low-cost initiatives that have a quick return on investment, such as lighting. In fact, forty-four percent of retail respondents indicated that lighting was the smartest energy and sustainability investment they made in 2014.