A Guidehouse report prepared for ComEd looks at initiatives, designs, and key themes for energy efficiency market transformation programs
In the energy efficiency industry, market transformation is known as the strategic process of intervening in a market to create lasting change in market behavior. This is accomplished by removing identified barriers or exploiting opportunities to accelerate the adoption of cost-effective energy efficiency as a matter of standard practice.
To gather perspectives on market transformation, Guidehouse recently worked with ComEd to arrange a summit that brought together leaders in the field to discuss their experiences. Their insights were detailed in a report that looks at three main questions:
How does market transformation work in today’s energy efficiency portfolio?
What are the must-have components of a market transformation initiative?
What market transformation initiatives could be pursued in the today?
The report’s findings highlight that overall success of market transformation programs not only requires quality in design, but also in implementation, and that a supportive regulatory environment is important to program outcomes. Scale is another important factor, and experts agree that having allies to work with can increase effectiveness.
According to the report, market transformation initiatives have proven successful in the past, and more widespread participation can help to drive long-term, deep savings in energy use.