Commercial real estate is big business in the US, considering its high return on investment and growth potential. By 2024, the market value is anticipated to surpass $25 trillion, and by 2028, estimates point to a market volume of $28.18 trillion. The figures correspond to a 2.66% yearly growth rate. There is definitely no better moment to jump on the commercial real estate bandwagon. 

Nevertheless, whether you invest in rental residences, commercial buildings, retail stores, warehouses, or holiday rentals, the market is highly competitive. Given that consumers are prioritizing green buildings, sustainability can provide your firm with a competitive advantage in the market. According to statistics, the value of 75% of commercial buildings with sustainable characteristics has increased. 

However, you cannot leave energy efficiency to chance. As of 2022, about 18% of all energy used in the US is linked with commercial buildings. The figure emphasizes how important it is to contribute in some small way as a commercial real estate owner by using a sustainable strategy. 

We'll go over a few proven practices that can raise your building's energy efficiency. 

Start with an Energy Audit

By the end of 2022, around 41,000 buildings in the US had obtained ENERGY STAR certification, according to the Environmental Protection Agency. Considering that there are millions of commercial buildings in the country, the number of star-rated ones is likely small. When looking to improve energy efficiency, builders should start with a thorough energy audit of their structure. 

You can find inefficiencies and places for development with the aid of the audit. To determine how much energy is being used in your location, you might use online resources or employ a qualified energy auditor. It is easier to address regions with high consumption with sustainable alternatives when you are aware of them.

Upgrade Lighting Systems

The Department of Energy notes that the majority of lighting installations in the country are anticipated to use LED technology by 2035. The annual energy savings from LED lighting could reach a whopping 569 TWh. You can capitalize on these savings with the early adoption of LED lighting systems for your commercial space. 

Replace outdated fixtures with LED substitutes to reduce energy consumption and get durable solutions. According to LED Lighting Supply, swapping outdoor lighting with products like LED poles, bay lights, and parking lights can take you the extra mile with energy savings. 

Consider installing programmable lighting controls and occupancy sensors to adjust illumination levels based on natural light availability and occupancy. It means that lights are only used when required. 

Optimize HVAC Systems

The most recent Manufacturing Energy Consumption Survey found that 8% (76 billion kWh) of total electricity use in American manufacturing facilities was attributed to HVAC systems. HVAC consumption is high in residential and retail real estate as well. Imagine how much energy you can save by maintaining and tuning your HVAC system to ensure it operates at peak efficiency.

Clean or replace air filters when necessary and perform regular checks for leaks or blockages in ductwork. Also, calibrate thermostats for optimal performance to maintain HVAC efficiency. Upgrading to an energy-efficient system with higher Seasonal Energy Efficiency Ratio (SEER) ratings is a good idea. 

You may consider investing in smart HVAC controls for remote monitoring and management based on occupancy patterns. Besides saving energy, these investments will enhance the value of your commercial space. 

Improve Building Envelope

Commercial real estate owners often take a set-and-forget approach to their properties. It is the worst mistake, specifically when it comes to sustainability and energy savings. From the outset, you should check the building envelope, sealing air leaks and gaps around windows, doors, and walls. Also, implement such checks periodically because wear and tear can cause such gaps over time.

By sealing them, you retain the conditioned air inside and stop outside air from entering the space. To reduce heating and cooling loads and enhance thermal insulation, use caulking, weatherstripping, or insulation. Install new energy-efficient windows with low-emissivity coatings, double or triple glazing, and insulated frames if you're replacing old ones.

Invest in Renewable Energy Sources

Exploring opportunities to generate renewable energy onsite is an excellent decision for commercial real estate owners. Consider options like solar photovoltaic (PV) panels, geothermal heat pumps, and wind turbines as renewable energy sources. Statistics show that 20% of these buildings use self-generated energy to meet more than 50% of their total electricity needs. 

Besides reducing energy bills for your tenants and making your space attractive to them, renewable energy investments offer several more benefits. They can get you tax credits and government incentives. Moreover, you can seek financing options to offset the upfront costs and accelerate your return on investment.

In conclusion, it's not as hard as you might think to add energy efficiency to your commercial property. By putting these ideas and tactics into practice, you may conserve energy and make your property more appealing to buyers. Reducing the carbon footprint of your facility also gives you the chance to contribute to the environment.