Something to keep an eye on related to commercial real estate in Utah is the trend to retrofit existing buildings to make them more energy efficient. According to Pike Research’s report released today the global market for these retrofits is expected to increase from $80.3 Billion in 2011 to $151.8 Billion by 2020. According to an analyst quoted in the article, “Retrofitting existing buildings offers one of the most cost-effective ways for a business to reduce operating expenses…a growing number of financial instruments are deepening the scope of energy efficiency retrofits, driving continued investment in energy efficient HVAC, lighting, and control systems.” Locally, many companies are finding value from the incentives offered for upgrading lighting from Rocky Mountain Power. Check out some of the current incentives at http://www.rockymountainpower.net/res/sem/epi.html .
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