NEEA Q2 2020 Quarterly Report

A Note from the Executive Director: 

Over the last few months, it has been especially gratifying to see the resilience of our business and the power of market transformation programs to adjust in real-time to market dynamics. While it is still too early to fully understand the impact of the economic slowdown on NEEA’s long-term goals, there are some positive indicators from the second quarter:

  • Consumer spending on white goods continues to exceed pre-COVID-19 levels, with a significant shift to online purchasing.
  • Early concerns about NEEA’s ability to attract the attention of supply chain partners during COVID-19 have diminished as companies have adapted to new ways of working and continue to signal willingness to engage with the alliance.
  • Some partners, specifically in the commercial real estate market, have indicated an increased interest in participating in field tests to take advantage of unoccupied commercial office space.

Staff will continue to monitor market conditions and will adjust strategies as needed. An assessment of market adoption and reforecast of resulting energy savings is planned for Q3. Given the long-term nature of market transformation, we remain confident in the viability of the Market Transformation portfolio.

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