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New analysis from Frost & Sullivan finds that both developed and developing countries are investing in Photovoltaic research development and deployment. However, more efforts are required to bring down the cost of PV cells so that they can be used more widely.
Technical Insights research analyst Kumar Narasimhan, said, "Green initiatives promoted by the U.S. government under the leadership of Barack Obama and the European Union's drive toward energy efficiency have energized R&D activities in the field of PVs and biofuels."
He further added that with the allocation of funds and implementation of energy policies in the construction of new buildings there was bound to be radical changes in the cost and efficiency of the renewable energy segment.
The study also mentioned that tax benefits and incentives were also helping PVs to gain momentum and the phasing out of energy inefficient incandescent bulbs should also help promote the use of CFLs.
There are some challenges that have to be faced. The depression in the economy has caused a slowing down in the construction industry and this has impacted the uptake of green and smart technologies negatively.
In addition, the preference for proven and reliable technologies by the construction industries has in some ways hampered the momentum of green and smart building technologies. Concentrating on the Photovoltaic sector has caused other energy sectors to be pushed into the background. Finally the absence of cost-effective products could also prove to be a dampener for the growth of “Green Technology.”
Talking about the role of global summits and energy initiative by big companies to minimize energy consumption, Narasimhan said that positive changes were afoot and technology growth in the field of green and smart buildings could be expected.
In the ultimate analysis, the question here is whether policies, legislation, tax benefits and subsidies are enough to lure the construction industry to move toward smart and green technologies and even if they succeed—will the impact be big enough to be felt. Both the government and the construction industry need to work hand-in-hand to reduce the carbon footprint and make green and smart buildings a reality.
Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.Edited by
Janice McDuffee
