The ultimate goal of any business is to maximize profits while reducing expenses. Embracing green technology is an emerging way for property owners to reduce their energy consumption and in the process lower their costs.
There is ample room for improvement in the industry. According to the U.S. Department of Energy, commercial buildings are responsible for 18.7% of energy usage, a staggering 88% of water consumption and account for 40% of carbon dioxide emissions.
Energy management consultants can assist building owners to negotiate energy portfolios while providing advice on how to retrofit properties with new technologies aimed at reducing energy costs.
Site audits can point to areas that can benefit from upgrades, including:
Lighting, incorporating LED technology in all units, common and outdoor areas that can save as much as $1.17 per year per light
HVAC improvements including thermally-driven air conditioning, energy consumption software controls, ice-powered air conditioners, geothermal heat pumps and energy-efficient duct wrapping
Building controls, putting systems in place that monitor and automate building environmental controls with the primary aim of reducing consumption while providing maximum comfort
Smart metering opportunities that include inputs for self-generated electricity such as via solar or wind power and allowing you to return unused energy to the grid
The introduction of smart sensors into buildings represents another way innovative technology is being used to transform the property management field.
These Internet of Things (IoT)-powered sensors take advantage of remote connectivity to provide environmental intelligence while reducing administrative and maintenance costs.
Once installed, they continually monitor buildings, collect data and analyze conditions such as temperature, humidity, carbon monoxide and smoke presence as well as overall air quality to provide real-time information.
Smart Sensors can
Reduce insurance costs due to less chance of property damage or health concerns from poor air quality and humidity
Decrease the number of service calls by proactively providing environmental information, resulting in improved tenant satisfaction while lowering administrative costs
Provide data that can be shared with residents and government bodies
Once the data is collected, smart sensors can channel the findings to a centralized source for easy monitoring, offering the property manager an easy way to monitor their building’s environmental conditions proactively.
These green technologies not only improve sustainability but will help building managers reap the rewards of reduced energy consumption and, accordingly, lower costs.