Guide

Unlocking the Hidden Potential: How Asset Managers Can Reduce Operating Costs with Energy Efficiency

January 30, 2024
November 1, 2023
  •  
2 min read
Brooke Skillan
Team Coordinator

At Datakwip, we empower Asset Managers in the Real Estate industry to reduce operating costs and meet their decarbonization goals. With our data-driven solutions, they can optimize building performance, increase profitability, and exceed their sustainability goals. This How-to Guide will provide Asset Managers with a step-by-step process to successfully achieve their decarbonization goals and improve the value of their buildings and assets.

Why You Should Want to Achieve Decarbonization

  • Reduce operating costs
  • Increase profitability
  • Improve building performance
  • Exceed sustainability goals
  • Enhance brand reputation

Unfortunately, many Asset Managers struggle to achieve decarbonization due to a lack of visibility into operations, reliance on capital projects, and limited knowledge of cost-effective strategies.

Step 1: Assess Current Operations and Energy Usage

To start your journey towards decarbonization, it's crucial to assess the current operations and energy usage of your buildings. This will provide you with the necessary data and insights to identify areas for improvement and cost-saving opportunities. Here's how you can do it:

  • Conduct a comprehensive energy audit of your assets
  • Analyze utility bills and identify energy consumption patterns
  • Implement real-time monitoring systems to track energy usage

By understanding your current energy performance, you can identify specific areas where energy savings can be made.

Step 2: Implement Low and No-Cost Energy Efficiency Measures

One of the biggest misconceptions about decarbonization is that it requires significant upfront capital investment. However, there are several low and no-cost energy efficiency measures that can deliver substantial savings. Here's what you need to do:

  • Optimize HVAC systems for energy efficiency
  • Install energy-efficient lighting and controls
  • Implement a comprehensive building automation system
  • Educate tenants and staff on energy-saving practices

By implementing these measures, you can significantly reduce your energy consumption and operating costs without breaking the bank.

Step 3: Leverage Data and Technology

Data and technology play a crucial role in achieving decarbonization goals. By leveraging data analytics and advanced technology solutions, you can gain real-time visibility into your building's operations and make data-driven decisions. Here's how to leverage data and technology:

  • Utilize energy management software to track and analyze energy usage
  • Implement virtual submetering to monitor individual energy consumption
  • Explore IoT-based solutions for efficient building management

By using data and technology, you can optimize building performance, identify energy-saving opportunities, and ensure long-term sustainability.

Step 4: Monitor and Measure Progress

Achieving decarbonization is an ongoing process that requires continuous monitoring and measurement. It's essential to track your progress and evaluate the effectiveness of your strategies.

Here's what you should do:

  • Set energy reduction targets and regularly assess your performance
  • Monitor energy consumption and compare it to historical data
  • Conduct periodic energy audits to identify further opportunities

By monitoring and measuring your progress, you can identify areas for improvement and make necessary adjustments to achieve your decarbonization goals.

Conclusion

Achieving decarbonization in the real estate industry is a complex task, but with the right strategies and tools, Asset Managers can successfully reduce operating costs, increase profitability, and meet their sustainability goals. By following the steps outlined in this How-to Guide, you can embark on a successful decarbonization journey and create a more sustainable future for your buildings and business.

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