LONDON, March 25 /PRNewswire/ -- "Energy Efficiency" was the buzzword of 2008, and rightfully so. With high energy prices and the "green" movement in full swing, it made both economic and social sense to invest in energy saving technologies. Entering 2009, however, the world finds itself in a different economic situation. Energy prices have declined, and the financial crisis leaves companies with little or no capital to spend on investments. In light of these new economic conditions, it is questionable whether the trend toward energy efficiency will continue. However, Frost & Sullivan believes that the demand for energy efficiency in buildings will remain a powerful driver in the short and medium term future. When oil prices peaked in 2008, it became clear that measures to reduce energy consumption were needed. This need, combined with increased environmental awareness and challenges to meet the rapid growth in global energy demand, fuelled the growth of the energy efficiency market. Energy efficiency seemed to be the perfect solution; organizations cut energy consumption costs by investing in green technology and earned themselves a greener image which gave them a competitive advantage.
