More than 90% of our product portfolio directly addresses demands for greater energy efficiency
Nearly half of all global energy consumption takes place in commercial, industrial and residential buildings, with heating, ventilation and air conditioning (HVAC) and lighting systems representing the greatest opportunity for improvement. Industrial processes also consume significant amounts of energy around the world. We see energy-efficient products as a business opportunity, as more than 90% of our product portfolio directly addresses demands for greater energy efficiency with lower greenhouse gas (GHG) emissions in buildings, homes, industrial spaces and transport markets around the world. We are committed to addressing the environmental impact of our products to help our customers operate more sustainably.
Ingersoll Rand is not just creating and leveraging new technology solutions, but also repositioning and optimizing existing technologies such as thermal energy systems. Through our 2017 acquisition of CALMAC Corporation, we are well positioned to offer customers even greater choices for managing energy and operating costs. When integrated with Trane’s leading building control platform, CALMAC will take pressure off the energy grid, reduce strain on public utilities, reduce operating costs for building owners and allow for better use of renewable forms of energy.
The core of our growth strategy is to invest in opportunities related to energy efficiency and environmental sustainability in buildings, industrial processes and transportation around the world. We are considered industry leaders in developing and commercializing next-generation, energy-efficient technologies that incorporate refrigerants with lower-global warming potential.
PRODUCT ENERGY EFFICIENCY DATA
Products in our EcoWise portfolio must be at least 5% more efficient than the minimum standard where standards apply.
9,000+ connected buildings
Connected buildings, industrial facilities, homes and vehicles are providing our customers with more information, accessibility and productivity. We believe the North American market for connected services and controls represents an estimated $400 million growth opportunity over three years. Each of our businesses is executing a digital strategy. For example, our North American energy services and controls business surpassed 9,000 connected buildings in 2017, proving that big data coupled with insights improves energy efficiency. In fact, according to a Berg Insight report, nearly 55% of all households in the U.S. are expected to be “smart homes” by 2021, and Ingersoll Rand’s Nexia™ continues to be a defining force in this evolution. In 2017, Nexia was selected as the electronic brain powering the Z-Wave Alliance demonstration home, which features an ecosystem of products working together to create a smarter way of living.
Paul Camuti, Senior Vice President and Chief Technology Officer of Ingersoll Rand, oversees product stewardship. His oversight includes engineering, innovation, product development and growth strategy.
Our EcoWise portfolio of products is designed to lower environmental impact with next-generation, lowglobal warming potential refrigerants and high-efficiency operation. In 2017, we doubled the size of our EcoWise portfolio. Ingersoll Rand also relies on the ENERGY STAR® program to guide the energy-efficiency requirements of our products.
We have a 2020 goal to generate 5% of revenue from products that meet world-class environmental criteria (water, electricity and fuel consumption from the use of the product). Please see our Progress Toward 2020 Targets section.
Several tools help us track and manage the energy efficiency of our products. Recently, we created a product.