In our ever-evolving world, where energy efficiency and sustainability have become more than just a need, it’s crucial that commercial real estate (CRE) properties do their part.
This blog will walk you through three strategic tips for better energy savings at your CRE properties.
Energy savings tips
1. Audit and benchmark
A comprehensive energy audit can help property teams to understand current energy consumption patterns, opportunities for energy savings, comfort fixes, and equipment optimizations.
Energy audits should assess major building systems, such as:
- Lighting
- HVAC
- Water
- Building envelope
Properties should then utilize the data collected from audits to benchmark against similar properties and for a better understanding of potential areas of improvement.
Energy savings success story: Hank drives reduced energy costs of $71k for Samuels & Associates
2. Automate existing control systems
Another way to improve energy savings is to connect your property’s existing Building Automation System (BAS) to a cloud-based, AI technology. This way you can:
- Optimize your HVAC equipment and lower energy consumption (and costs) to deliver immediate ROI
- Automate your building’s temperature and air flow to ensure an optimal workplace environment for every tenant
- Extend equipment life to allow the building to run truly automated. This can result in fewer service calls, shorter response times to tenants, and a decrease in operating costs.
Energy savings success story: Hank drives savings and reduces energy consumption by 50%
3. Seek out financial incentives
The third way to improve energy consumption at your CRE properties is to participate in, and look out for, energy and financial incentives. There are many financial programs that reward energy-saving investments. Examples include:
- Tax rebates: Governments may offer cash rebates for installing energy-efficient technologies or for retrofitting existing systems to improve their efficiency.
- Utility company incentives: Incentives may come in the form of direct rebates, discounts on energy-efficient equipment, or lower energy rates for participation in demand response programs. State examples include:
- California: PG&E
- Massachusetts: Mass Save
- New Jersey: PSEG
- Virginia: Dominion Power
- Renewable Energy Certificates (RECs): These allow businesses that generate renewable energy to sell certificates associated with the environmental attributes of the power they produce, providing an additional revenue stream.
Energy savings success story: Hank maximizes tenant comfort and drives down energy consumption
A path towards energy savings
The quest for better energy savings in the CRE sector presents a compelling journey. By leveraging strategic energy audits, embracing automation technologies, and capitalizing on financial incentives, CRE professionals can effectively reduce energy consumption and drive down costs, all while contributing to a sustainable future.
With these tips at your fingertips, it’s time to power a greener future, one building at a time. For more ways to save on energy consumption at your properties, download the guide, “6-step energy savings guide for commercial real estate teams.”
