No matter what media outlet you choose to get your information from, everywhere you look now you see headlines about inflation. The rise in fuel and food prices is well-documented, but what's often less talked about is the way that inflation affects commercial properties. As energy costs go up, so does the cost of running a commercial property. In addition, many businesses are looking for ways to go green and reduce their environmental impact. As a result, they're investing in more efficient systems, such as led lighting and solar power. While these investments can help to reduce operating costs, they can also make a property more attractive to potential tenants. As a result, what we do at Green Property Advisors has become increasingly important in today's market. By understanding the impacts of inflation and sustainability, we can help our clients make smart investment decisions that will pay off in the long run.
The New York Times recently published an article titled “Get Ready for Another Energy Price Spike: High Electric Bills”, and in this article the writer quotes Mark Toney who is the executive director of The Utility Reform Network (TURN) in California. Mr. Toney says, “This is an affordability emergency. If you want to control inflation, one of the things you have to control is energy costs.”
As electricity rates continue to go up, it's more important than ever to be proactive about managing your energy costs. One way to do this is to go green by installing led lighting and other energy-efficient measures. Not only will this help to lower your monthly bills, but it will also make your property more sustainable. Another way to reduce your expenses is to work with a commercial property advisor. Our experienced advisors at GPA can help you identify cost-saving opportunities and negotiate favorable terms with your energy provider. By taking these steps, you can avoid getting caught off guard by increasing electricity rates.
Global Warming and Global Climate Disruption has also taken a huge toll on utility usage and costs. The rise in global temperatures has caused an increase in utility costs and as the days get warmer and we transition from spring to summer, energy costs will be at an all time high. This is due to the increased demand for air conditioning during the hot summer months.
As awareness of the risks of climate change grows, so too does the pressure on businesses to go green. Private utilities in California, for example, are now required to factor global warming into their long-term planning. This move is part of a wider trend towards sustainability, as businesses increasingly recognise the need to reduce their environmental impact. Green Property Advisors is often at the forefront of this trend, providing advice on everything from led lighting to water and HVAC systems. The goal is to create a more sustainable built environment, one that is resilient to the effects of climate change and that minimizes the negative impact on our planet.
As anyone who's looked at their electricity bill lately can attest, there is zero doubt the cost of power is on the rise. And while there are many factors contributing to this increase, from the price of coal to the cost of running a power plant, one thing is certain: the average consumer is feeling the pinch.
But there is some good news. Despite the rising cost of power, there are ways to save energy and go green that can help offset these increases. For example, turning to LED lighting for your business can provide significant savings on your power bill.
We all know that there are many benefits to LED lighting because let's face it, since LEDs have gained more popularity, we can list off many of those benefits from memory of advertisements on our tv screen, social media feeds and even billboards on the side of the highway.. However, having that knowledge and actually applying that knowledge are two very different things. Most commercial property owners become apprehensive after being made aware of initial costs for upgrading to LED Lighting at their facility or property.
This is where our Green Loan Program can help any commercial property. Going green is not only good for the environment, but it can also be a smart financial decision. With discounts, rebates and other government incentives only offered through GPA’s Green Loan Program, those scary “initial costs” become much less intimidating. As commercial property advisors, we can help you take advantage of these programs to make your property more sustainable. Whether it’s retrofitting your existing lighting with LEDs or upgrading your HVAC and water systems, we can help you find the best way to go green.
In addition to LED lighting, there are other go-green options that can help reduce your power consumption. Something as simple as weatherstripping your doors and windows can go a long way toward keeping your home or office well insulated and reducing drafts.
Read the full report for
CLIMATE RISK IN THE ELECTRICITY SECTOR:
Legal Obligations to Advance Climate Resilience Planning by Electric Utilities
Romany M. Webb, Michael Panfil and Sarah Ladin