Part 1 of 2
In the recent Q&A below with Logan Soya, founder and CEO of Aquicore, said that there are many low to no-cost options that enable landlords to drastically reduce their energy consumption. Aquicore offers energy analytics and automation solutions for commercial real estate.
GlobeSt.com: How can a landlord reduce my energy consumption on a tight budget?
Logan Soya: Often, property decision-makers are hesitant to invest in sustainable or energy efficiency initiatives due to the large capital investment required. However, there are many low-to-no-cost options that enable landlords to drastically reduce their energy consumption.
Appliances: Energy efficient appliances can make a big difference in total energy use; programs such as Energy Star can help you figure out the best appliances for your needs.
Lightbulbs: CFL and LED light bulbs are significantly more efficient than a regular incandescent bulb. By changing one light bulb, you can save up to $80 and considering the number of light bulbs in a commercial office building, which could mean thousands in savings.
Improvements: According to the EPA, buildings waste 30% of the energy they consume. By updating facilities with the latest, most efficient equipment, property managers can greatly improve the energy efficiency of their buildings.
Energy management tools: Tools like energy monitoring systems can identify the most inefficient areas of a building (such as heating or air conditioning that is on during a weekend when it is not needed or an undetectable water leak) that if addressed can result in the greatest return on investment.
Although some of these efforts require capital investment upfront, landlords will save money over time with a relatively quick payback.
GlobeSt.com: What KPIs should a landlord track to start an energy management program?
Soya: Energy management programs are becoming an essential part of every commercial building. However, getting started is one of the hardest parts. While every building is different, these key performance indicators (KPIs) can help a building owner..
Utility Consumption: The primary inputs to a building are electricity, water and gas; an energy management program allows owners to know how much a building is actually consuming and – even better – how much specific tenants are consuming.
Waste (outputs): Understanding how much and where resources are wasted will inform calculated efforts to address these inefficiencies.
Flow: While input and output quantities are important, the ability to see where energy, water and gas consumption flows will enable targeted, effective efforts.
Efficiency: The efficiency of equipment dictates when landlords need to upgrade to the latest technologies available; often, upgrading equipment saves landlords more money in energy bill savings than the cost of the equipment itself.
Check back in the next day or so for more from this energy where we discuss what the future of energy management looks like.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
