The latest report from the International Energy Agency (IEA) warns that global progress on energy efficiency remains insufficient to meet climate targets. Although a 1.8% improvement is expected in 2025, the average since 2019 is just 1.3%, far below the 4% annual rate set for 2030. This gap creates a significant opportunity for the construction sector, particularly in renovation projects and new energy-efficient buildings.
Investment in retrofits is growing: since 2019, combined spending in China, the US and the EU has risen by more than 20%, reaching around $120 billion in 2024. The return is clear: a well-insulated home can save between $300 and $500 per square metre over 20 years. However, rising demand for cooling, driven by widespread access to air conditioning, poses an additional challenge. If the most efficient equipment had been installed since 2019, the increase in electricity consumption equivalent to that of data centres could have been avoided.
The report also highlights a shortage of skilled professionals: 72% of companies in the sector report a lack of qualified staff, which could slow the implementation of efficient solutions. For construction, this means the economic opportunity comes with an urgent need to close the skills gap.