It also eliminates the need to rely on vague building archetypes or general marginal abatement cost curves, which often lead to poorer plans and higher costs. For large portfolios, this novel approach to reaching net zero represents a more than 100-fold increase in the pace and scale of decarbonization planning compared with the traditional approach of conducting energy audits and net-zero studies. These plans-which can be generated for a full portfolio in a matter of weeks-can include a set of time-bound actions, associated capital costs, and documentation of the effect on emissions and operating costs. These capabilities can quickly generate a set of financially optimized plans for each building in a portfolio based on the building’s unique starting point, regulatory environment, lease structure, and many other factors. Advanced evolutionary optimization algorithms can then determine the optimal set of solutions and sequence of actions for each building-and the portfolio as a whole-to reach net zero on a given timeline. This includes the current type and estimated capacity of heating and cooling systems, the site-specific potential for solar or geothermal power, and where insulation and efficiency levels are substandard. It is now possible to use a combination of data from satellites, geospatial analytics, regulations, labor and equipment costs, building characteristics, energy, and other sources to rapidly create a high-fidelity picture of the current state of an individual building without ever stepping foot inside.īy applying machine learning, AI, and physics-based modeling, portfolio owners can quickly identify building decarbonization opportunities. Due to these limitations, the traditional approach to decarbonization has created a widespread impression that decarbonizing buildings is significantly unprofitable.īut thanks to improvements in the quantity and quality of data and analytic methods, there is a better approach. What’s more, physical energy audits and building-by-building net-zero plans are lengthy, costly, and enjoy no benefits of scale. Owners with portfolios of many unique buildings often have no centralized inventory that indicates the conditions inside or the types of equipment they contain. This article is a collaborative effort by Brodie Boland, Daniel Cramer, Alastair Green, Darya Guettler, Focko Imhorst, and Marita Winslade, representing views from McKinsey’ Real Estate Practice.
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