New PropTech Considerations for Sustainability & Environmental Impact Goals
Best practices for eco-friendly smart home technology in a world where green is great.
Hurricanes, heatwaves, droughts and forest fires are more extreme and increasing in frequency across the country and globe. Air quality, water security and grid stability are all on a dangerous path. Building construction and operations account for nearly half of global carbon emissions.
Conservation efforts and reduction programs must ramp up to combat these forces, which ultimately paves the way for mass adoption of property technology. These comprehensive solutions can offset grid strain, mitigate blackouts and prevent utility system failure. They can clean indoor air, mitigate water loss, reduce fossil fuels and produce alternative energy. Hardware and software platforms are mature and widely available for real estate owners and operators who are seeking to reduce costs, all while achieving their environmental and sustainability objectives.
Renters are prioritizing sustainable living, which is increasing the value and marketability of properties with green building certifications. Benchmark reporting and scoring systems track ongoing property performance, building health and wellness. Certified, high scoring assets are attracting a greater pool of investors, earning favorable financial terms and commanding better rental rates.
Below are my top considerations for eco-friendly smart home technology and building automation systems that should be foundational in a rental housing world where green is great.
Optimizing Energy Use
Installing LED lighting and energy star appliances are table stakes today but is unfortunately where many sustainability efforts start and finish. Multifamily companies committed to meaningful change must take a deeper and more advanced approach.