Commercial real estate (CRE) is not just about managing expansive physical spaces – it’s also about maximizing the sustainable potential that these properties hold. An energy management program is a vital component for any CRE team who wants to improve both their financial bottom line and environmental impact.
In this blog, we present three ways to help initiate a more energy-conscious property management approach to minimize your commercial real estate energy consumption.
1. Foster tenant collaboration and education
Educating tenants is the first crucial step along the path of energy conservation. Tenant behaviors significantly impact commercial real estate energy consumption, and it is the responsibility of property teams to enlighten them about energy-efficient practices. Provide clear guidelines that illustrate how simple changes can result in substantial energy savings.
This education can take place via regular communication channels like newsletters, on-site signage, and even holding workshops. To further drive this initiative, consider developing incentive programs—financial or non-financial—for tenants who actively engage in reducing their energy consumption. Introducing energy-related clauses in lease agreements can also incentivize tenants and reinforce your energy-conscious approach.
2. Implement a robust energy management strategy
A successful energy management strategy starts with setting clear objectives, defining realistic timelines, and assigning responsibility. Begin with an energy assessment to analyze existing consumption patterns and to set achievable energy saving goals.
This assessment can be split into two core strategies: short-term and long-term. While short-term strategies might involve immediate behavioral changes, long-term objectives could include upgrading energy-consuming equipment and systems.
Involve the entire property management team in this endeavor. Deliver comprehensive training to equip your team with the knowledge and tools needed to execute and maintain these energy saving measures.
3. Review, improve, and adapt your strategy
Energy efficiency is a dynamic, ongoing process that demands constant attention. Internal property teams should be prepared to work continuously towards their energy savings goals. Establish regularly scheduled evaluations to monitor progress and ensure efforts are on track with achieving these goals.
Reviewing commercial real estate energy consumption data plays a pivotal role in these evaluations, helping identify further savings opportunities. Technology built specifically for energy optimization at CRE properties is another great way for teams to monitor their building data and hold themselves accountable for their energy savings goals.
Commercial real estate energy consumption
Cultivating energy efficiency in CRE doesn’t just contribute to better cost savings; it’s a comprehensive way to bolster the sustainability and the reputation of your portfolio. By implementing the steps mentioned above, CRE professionals can make significant strides towards energy conservation and a greener future.
Join us in paving the way for a more sustainable CRE landscape. Download the free guide “6-step energy savings guide for commercial real estate teams,” to continue on your energy savings journey.
