As businesses and commercial developers start to feel the need to lessen the carbon footprint of their buildings, the markets for “greener” heating, ventilation and air conditioning systems, as well as light-emitting diode lighting technology, will grow.

According to global firm Pike Research, as the cost of LED lighting continues to decline, the technology will make up 52 percent of the commercial lighting market by 2021, with an accompanying price reduction of 80 to 90 percent during the next decade.

This is while the global market for commercial lighting itself reaches a peak of nearly $54 billion in 2012, with more buildings switching from cheaper but less energy-efficient devices.

However, mostly because of the extended life of the new fluorescents and LED’s, market value will go down to $30 billion by 2021.

Overall, Pike sees the market for energy efficiency in buildings reaching $103.5 billion in 2017 from $67.9 billion in 2011.

Meanwhile, the market for high-efficiency HVAC systems is seen doubling from $3.1 billion in 2011 to $6.4 billion in 2017.

Using high-efficiency HVAC systems, along with better lighting technologies, is seen as among the best ways of lowering energy consumption in buildings, especially those used by businesses and governments.

Yet another growth market for energy efficiency for buildings would be energy performance contracting or E.P.C. as employed by energy service companies.

An energy performance contract is an agreement between a consumer and the energy service company where the latter identifies and evaluates energy-saving opportunities, and then recommends a package of improvements that can be paid for through savings on the energy bill.

Through an E.P.C., commercial buildings can install energy-efficient equipment and start energy efficiency services. The market for this sort of services will increase from $30.1 billion in 2011 to $66 billion by 2017., Katrice R. Jalbuena 11/28/2011