Retrofitting US building stock could yield $1 trillion in energy savings and create up to 3.3 million years of employment, according to a study by Deutsche Bank and The Rockefeller Foundation.

Current estimates suggest that buildings consume around 40% of the world’s energy and contribute 40% of global carbon emissions.

But the report by Deutsche Bank Climate Change Advisors (DBCCA) and The Rockefeller Foundation calculates that an investment of around $279 billion in retrofitting residential, commercial and institutional buildings could generate savings of over $1 trillion within a decade.

Retrofitting US building stock would also reduce the country’s emissions by almost 10% and its energy spend by 30%, while creating much needed work in the construction sector.

“Proven technologies to retrofit buildings can both conserve energy and – even more importantly in these difficult economic times – have the potential to create a large number of jobs,” says Judith Rodin, president of The Rockefeller Foundation. “With the release of this new report, outlining both the investment and job opportunities, I am increasingly hopeful that this market can achieve its full potential.”

For further information:
www.rockefellerfoundation.org
www.db.com

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