Property Forum reports on UN findings mentioned that the real estate industry uses 40% of global energy every year. The pressure is building on this industry to reduce its energy usage with better technology and policy changes. Due to extreme energy usage, the carbon footprint of this industry is also soaring. Forbes news reports say that real estate accounts for as much as 40% of the carbon emissions in the world.
The real estate industry had to adopt better strategy and leadership to reduce its carbon footprint as soon as possible to make the industry more sustainable. This will help their business be more sustainable in the long run and positively help the environment. In the recent past, many changes have been made, but most of them were short-term changes to save money. But it is becoming increasingly clear that long-term changes can pay off your business.
What are these changes? How can you integrate them into your business? Read this article to find out.
What are the other changes for sustainable real estate?
Here is a closer look at all the ways real estate is changing to become sustainable for the future gens.
Sustainable energy usage
Global ABC surveys and reports have mentioned that as of 2020, buildings use 55% of the total global electricity. The time has come to use sustainable electricity and decrease overall energy usage. Sustainable energy resources like solar power panels on buildings can be a great place to start.
Zero net energy projects are another promise to help bring down real estate's energy usage and carbon footprint. This can help real estate buildings like retail shops or multi-family homes become self-sufficient with their energy usage. They will only use the energy they produce and leave no additional burden on the environment.
More than 137 countries have pledged to achieve zero net energy status by 2050, and real estate must step up its game to help.
Drones and energy audits
Drones can be used in two ways to achieve energy efficiency. Firstly, you can conduct energy audits with drones on your existing buildings. Energy audit drones are fitted with thermal cameras and sensors to increase efficiency. They move around the buildings and point out the exact places from where your building is losing the most amount of energy.
Secondly, drones can offer birds-eye view of the construction sites and help in inspections. They can help real estate companies keep up with all environmental compliances. They can also use drones to check and survey the area for additional inputs on other environmental implications.
Sustainable construction
Globally, construction is seeing a shift toward the use of sustainable construction materials. Many buildings now use reflective paint to reduce the heating buildings. Use smart glass windows to adjust the transparency of the glasses and reduce heating.
Additionally, many buildings use sustainable materials like bamboo, pre-cast concrete slabs, or recycled plastic to reduce the overall carbon footprint. According to Global Newswire reports, this green building material market is set to hit the $61 billion mark by 2028. Many real estate companies are to thank for it.
Change in design and development
Rethinking the building design and development to optimize the use of passive energy sources of light in buildings can be a great start. Active energy usage will decrease if all buildings and units have enough natural light sources during the day. The same can be done with the ventilation design and reduce the pressure on the HVAC system.
Governmental data says that new-age energy-efficient appliances can reduce energy usage by 50%. If such designs are not possible in old buildings, you can change the type of equipment already present. This will not only help the environment but will also bring down your electricity bills.
The Internet of Things (IoT)
Sensors and smart devices can help reduce homes' energy consumption. These devices can be interconnected because they are IoT devices, and you can turn them off remotely. Even if residents are not home, they can easily control the usage of the devices from their phones and save energy.
Such devices also have pre-installed sensors, which can automatically shut down the device when it is idle for a while. This may include smart elevators, electric vehicle charging ports for tenants, and other such smart equipment use.
Analyzing big data
Using big data findings from your construction sites can help in reducing energy usage. They can uncover human behavior patterns, weather predictions and such. This data can be used to manage construction and find the best time to optimize construction work.
Rent more than building more
Reselling and renting property is a major process in making the real estate industry more sustainable. Real estate property managers and buyers should all promote reselling of old homes than constructing new ones. This will obviously bring down the industry's overall carbon footprint and make it more sustainable.
You can also use a selection of technology in project management to digitize the renting and buying experience. Virtual home visits with VR and virtual contract signing with the latest software usage can initiate this system. This will reduce the carbon footprint when home visits go down.
Use property management software
Using the right selection of technology in project management can reduce energy usage. When you automate processes like rent collection, CAM reconciliation and tenant communication, you cut down on staff movement. Your carbon footprint will lessen and help your project become sustainable.
Sustainability is the way forward for real estate
As technology and real estate are evolving with age, it is time to take sustainability more seriously. Using the right selection of technology is the only way to make this industry keep up with all environmental guidelines.
As a first step, you can start by getting energy audits done for all the buildings under your portfolio. At Assetsoft, we have a team of expert energy audit experts who will provide you with comprehensive reports. We will also help you analyze the data we find to make your buildings more energy efficient. It will benefit both you and your tenants in the long run.
Talk to us to start the energy audit process today!