Hot topic these days. Severe weather across the country has prompted lots of climate change discussions focused on reducing energy consumption in many industries, CRE included.
As people and businesses rebuild post-pandemic, clients are thinking about: flood risk; property damage; increased property prices; potential climate-related business migration patterns; and increasing costs in the construction industry as workers deal with harsh working conditions and greater safety risks.
Due to the pandemic-era online shopping boom, warehouses and storage units have been busy. But according to a Deloitte report, they “consume less energy than office buildings.” Experts say that as we build more warehouses, energy consumption could be reduced with the use of updated technologies. This would in turn reduce their impact on the environment.
Utility costs affect the profitability of CRE investments. Some upgrades are inexpensive. Others are more expensive, but offer good returns. There’s lots to consider and act on. But in the meantime, staying informed on how stakeholders plan to operate and implement “green” changes in the CRE space, is key to servicing clients in a smart, compassionate and informative way. In the meantime, some low-cost measures to offer clients:
* Turn off the lights whenever possible.
* Set back thermostats at low-traffic times.
* Routinely check & maintain equipment.
* Optimize start-up/power down times
* Revise janitorial work to minimize energy usage.
* Educate tenants/employees on energy use/operating costs.