The global retail market reached a value of nearly $20,331.1 billion in 2020, having increased at a compound annual growth rate (CAGR) of 2.4% since 2015. The market is expected to grow at a CAGR of 7.7% from 2020 to reach $29,446.2 billion in 2025. The global retail market is expected to reach $39,933.3 billion in 2030, at a AGR
of 6.3%1. Buildings have significant energy and environmental footprint. Greenhouse Gas (GHG) emissions by energy use in buildings accounts for 17.5% of the total emissions. Of which residential sector holds a share of 10.9% and commercial accounts for 6.6% of the total GHG emissions. The emissions from the building sector comes under the Scope-II type, and are from the generation of electricity for lighting, appliances, cooking etc. and heating2.
One key requirement for the operation of modern retail outlets is a secure power supply. Providing a broad assortment of products, offering fresh foods daily and creating sophisticated shopping environments entail a high energy demand. Rising energy prices and the effects of climate change are increasingly prompting retailers to address the challenge of steadily improving their energy efficiency.