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How Real Estate Developers Can Save Money with Energy Efficiency

One of the biggest costs for tenants is their energy bill, particularly if the weather where they live necessitates frequent use of space heaters or air conditioners. Because tenants may be drawn in by the potential of paying less for electricity, energy efficiency initiatives offer a marketing advantage in the real estate sector. Additionally, it is more probable that developers who make investments in energy conservation will be seen favorably by home consumers. Depending on the needs and design of each building, an ideal set of energy-saving measures should be chosen so as to save more money. Before choosing any investments, developers should ideally have an energy audit. In addition to a cost and benefit analysis for each item, this offers a comprehensive list of energy efficiency measures.

Energy efficiency improvements that enhance room heating and air conditioning systems can produce the biggest savings because these systems often consume the most energy. The greatest energy savings typically result from initiatives that target heating and cooling systems. In many buildings, modifications to the lighting and water heating system are also reasonably priced. An energy audit is advised in order to make optimal investment decisions. Trial and error are not recommended since building managers could end up spending money on initiatives that have little to no effect on their building’s energy consumption. Tenants are more willing to rent if a building offers lower power and gas costs than comparable properties. In the real estate industry, energy efficiency not only lowers electricity but also offers a marketing edge. Real estate developers can lower costs using energy audits.

An energy audit is a study of a company’s energy costs and efficiency. Understanding an organization’s energy consumption begins with an energy audit. It entails a thorough investigation and analysis of site-specific energy use, which includes an examination of equipment, processes, and user behavior patterns. This allows a business to find places where it can save money and lower its carbon footprint by ensuring efficiencies. An energy audit determines ways for a firm to reduce energy waste and increase energy efficiency. Reduced energy use can help a company’s carbon footprint, providing it with a more ecologically responsible image in the industry and community.

An energy audit can reveal areas where you can save money, but putting your findings into action requires more than just technical projects. An energy audit conducted by a skilled professional is a useful tool for determining how your company uses electricity and identifying areas where energy waste and efficiency can be reduced. An energy audit should mostly serve to confirm your assumptions about where your company can save energy. “Ideally, an audit should answer questions about how a business ‘energy needs can be satisfied. “That need could simply be to cut expenses, but it could also be to boost sales, and improve product quality and reliability. It is critical to completely understand how an energy audit can help you uncover solutions to achieving deeper goals. In a retail setting, for example, higher-quality and more efficient lighting has a direct correlation with sales.

The most efficient method is to examine all energy-consuming offices and equipment; this is the only way to completely understand an organization’s consumption patterns, how they may be linked and identify the most major energy users. Energy Africa Project (EPA) is well endowed with trained and skilled engineers who are versatile in an energy audit that can transform your business. We will highlight how the various sites and buildings should be prioritized to generate the maximum savings for businesses with many units that consume energy within the business premises. It is a relatively straightforward process with EPA because we are familiar with energy management and where businesses utilize energy, as it only requires walking around your site and finding areas of concern/interest. Knowing what an energy audit does, you can now look into whether your business could benefit from carrying out one. The major benefit is, of course, on the bottom line; you could be wasting money on energy that isn’t needed to finish your product/service, resulting in a higher profit margin. You may never understand how much money you could save if you don’t check into what you’re utilizing. If real estate managers were focused on environmental issues and sustainability, they will profit from demonstrating how they can reduce the carbon footprint of the estate they develop, providing good relations that could put them ahead of the real estate competition. With the way things are moving in the world nowadays on sustainability, if you don’t look into energy efficiency through energy audit as an estate developer, someone else will.

Real estate developers have recently begun to anticipate, particularly in the procurement of energy products, that a developer can demonstrate and prove that he has made steps to minimize the energy use and carbon footprint of the estate that he develops. The audit may be the initial step toward implementing a certified Energy Management System (ISO 50001) to embed energy awareness and document energy-related procedures in a management system for major energy users. Business operations will be more competitive as energy efficiency improves.

How Real Estate Developers Can Save Money with Energy Efficiency

Each step of the energy audit through energy audit is led by the EPA, but the real estate developers play important roles and should be actively involved throughout the process. You may also need to contact legal, financial, or branding experts, depending on the real estate. If shared energy costs or building comfort issues are a potential concern in multi-tenant buildings, it may make sense to incorporate prominent tenants or inhabitants in the process. Choosing an internal project manager to lead the project will help it succeed. The energy audit method is largely the same regardless of the audit level you choose or the number of facilities you want to audit. The first step is to select an energy auditor and develop a contract.

At EPA, we begin by studying your utility data, building or system diagrams, equipment inventories, and other facility information to do a preliminary energy consumption evaluation. To account for seasonal variations and patterns of energy usage, we will gather and examine at least two years of utility data throughout the energy use study.

We will use this information to compute the Energy Utilization Index (EUI) value (annual energy use/square footage) and energy end uses for your facility (energy used by each office system under your business premises).

Our team of experts will also look for changes in energy consumption over time and possible explanations. We then generate a preliminary report, which will include a summary of data, graphs, and other visualizations for easy interpretation. The results of this study can help choose the level of audit to do; we will also suggest recommendations in the audit report.

EPA-trained engineers will undertake a physical examination of the estate which you develop and its operations after the preliminary review. Our team of well-experienced engineers will visit with key operations and maintenance personnel during the site inspection to discover how the building runs and to discuss any current concerns or issues with the facility. We will also conduct a visual inspection and inventory of the building’s key elements

The opportunity to conserve energy and have a fair payback period on any expenses is a no-brainer for practically any business organization. The essential question can be figuring out how to do so, which is where an energy audit can help. Before you can decide if an energy audit is beneficial to your company, you must first grasp what it is. In its most basic form, an energy audit determines where a firm consumes energy, shows areas of waste, identifies poor/incorrect energy management practices, and offers ways to reduce usage and expenses as stated earlier.

Furthermore, energy audits do not have to be difficult, costly, or time-consuming. Instead, by just strolling around the facility, our team of experts conducts an effective energy audit of your company’s energy usage. With some ideas on how to complete your own energy assessment, Energy Project Africa (EPA) can help you get your energy usage under control.

The energy savings potential will be clearly provided in no-cost, low-cost, and high-cost categories, and EPA will prioritize them in the report. Each of the discovered savings opportunities will have a payback and quantified carbon savings listed alongside it. The free choices are usually tied to behavioral modification, notably in the area of lighting, and can be implemented right away. Based on the energy audit findings and recommendations, an internal strategy should be developed and a decision taken on how to proceed with the recommendations. Upgrades to lighting, heating, and industrial processes can alter a company, but these opportunities are frequently neglected by executive teams who are more concerned with increasing revenue than decreasing costs.” As a result, EPA shows the survey and reports findings to top management so that they may ask questions and thoroughly comprehend the findings and possibilities of the recommendations.

Unqualified auditors may also make recommendations that result in little energy savings, or even worse, increased energy use or equipment damage. While cost is an important consideration when hiring an energy auditor, it should not be the only one. Experience, certifications, and successful past project samples are all important factors to consider when hiring an energy auditor. EPA team of engineers and data analysts are well trained and experienced in the field of energy audit to give your business the most effective and efficient energy which reduces the amount of money you spend on energy on daily basis.

E.P.A. (Energy Projects Africa) through her Energy audits and feasibility solution helps stakeholders make data-driven decisions in the clean energy space via real-time quantitative research and feasibility studies. If you need a partner with hands-on local expertise in the renewable energy space or any of our bespoke solutions/services, kindly visit Mail to learn more.


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