Energy usage is by far the largest operating cost in the energy economy of a typical commercial real estate building, with about one-third of the overall operating budget being used. In addition, this consumption accounts for around 20 per cent of the annual greenhouse gas emissions of the country. Commercial real estate companies should discover new ways to become more energy efficient in order to cut costs and decrease the magnitude of the building’s carbon footprint. Certain strategies to decrease energy usage would not impact the comfort of the occupant. In addition , reducing energy usage will increase the value of real estate assets while reducing operating expenses. Both of these advantages are reasons for pursuing energy conservation, though reducing greenhouse gas emissions is an important added benefit.
Investment in Technology
With energy efficiency, working towards a more energy efficient building starts. To better calculate, monitor, and change energy usage, commercial real estate companies may use updated technology. Getting this data enables commercial real estate firms to provide a futuristic viewpoint on the use of electricity.
Big Data applications
Commercial real estate organisations can effectively understand the use of energy in buildings by using real-time data. And for a statistical study of how resources will be used in the year and beyond, the knowledge can be used. Knowing where the most energy is used will help building managers realise where there is a need to reduce usage. It is important that employees of commercial real estate understand how the data provided is analysed and used. Since information collection is just one aspect, the real solution is to use the data.
The economics of energy can become complex, but the financial benefits are evident. Energy efficiency investments fuel an average 4 percent rise in property value, according to the Singapore Green Building Council. What’s more, green building owners say that their return on investment on current green building projects has increased by 20 per cent. In their houses , commercial real estate companies pursuing energy efficiency should begin to find a technological solution that can help to better quantify and monitor the use of energy. From there, it is possible to determine how best to minimise energy usage, which would lead to considerable savings and a reduction in carbon emissions.
Building and Construction
The biggest macroeconomic impacts are also stimulus policies affecting the building and development market. This is because the need for new buildings and renovations of existing ones is great in many countries, and because the sector has a strong potential to trigger local value chains. Investment in homes, schools , hospitals and public facilities may be included in buildings and construction programs. Highly efficient insulation and building form; high efficiency heating, hot water and lighting technologies, pest control solutions; and rooftop solar PV and battery storage may be energy efficiency potential in new and existing buildings. These programs can be classified into two categories: new construction programs and programs for upgrading existing buildings.
New building programs may include incentives to build new buildings according to high standards of energy efficiency. These services will rely on the already available cost-effective solutions at little extra cost and offer substantial benefits. Innovations such as prefabrication will drive down costs and increase performance through large-scale implementation. Upgrade services offer incentives for the introduction of replicable improvements on the scale of existing buildings. Research shows that about 60 percent of spending on retrofits to home energy efficiency such as architectural screens goes to labor, providing good growth in jobs. Home-focused public sector services and some relatively standardised types of structures, such as social housing, hospitals, office buildings and universities, have proven to be successful in producing substantial economic benefits.