It seems that green technology is becoming more popular and common every day. With soaring electricity and gas prices, homeowners and businesses are catching on to the trend by choosing green technology wherever possible. We look at the popularity of green technology and some of the most common green technology options for residential and commercial properties.
The popularity of green technology
While environmental awareness and a desire to reduce waste and pollution could be factors for the growth of green technology, higher energy prices are probably one of the key reasons people are switching to green.
Market demand has made it imperative for many development projects to incorporate green features into their buildings. These features range from basic design element such as building orientation (for natural lighting) and raw materials, to energy generation such as solar panel systems.
Green technology doesn’t have to be expensive, and you can fund additions in a number of different ways. For example, if you’re adding green features to an investment property, you could utilise investment property loans to fund the additions. The costs of making the changes may be tax deductible.
Popular green technology options
When incorporated into buildings, green technology aims to improve energy and other resource efficiency, reduce waste and pollution, and enhance health and productivity. These are some of the most common green technology features or tools that can be found in both residential and commercial properties.
(i) Solar panels
What could be better than paying nothing for your energy usage? Solar panels are one of the most popular green technology features being incorporated into new buildings and existing buildings. Government incentives for the uptake of solar energy are provided in various countries around the world.
Solar panel systems can be designed to fit specific building requirements. They can be small or large, and sized to match the energy requirements or the building and/or the weather conditions in the area. Solar panels are so popular and attractive to consumers because they promise cheaper ongoing costs for the building, reduce impact on the environment, and offer a very long working life that typically ranges over 20 years.
(ii) Solar hot water systems
Solar hot water systems can be used in buildings that do not have solar panels. Like solar panel systems, solar hot water systems can reduce environmental impact which is associated with electric systems (which are often powered by coal-burning power plants) while cutting energy costs. This is particularly significant when you consider that hot water systems typically account for 20 to 25 per cent of total energy costs in an average home.
(iii) Heating and cooling
Building heating and cooling is another major energy cost for the home and office, accounting for as much as 50 per cent of total energy usage in some buildings. Green technologies that improve heating and cooling efficiency include using energy efficient heating and cooling systems and appliances. Programmable thermostats facilitate a more efficient use of the heating and cooling system in the home and office.
Effective insulation and sealing can also reduce costs associated with temperature control. Even small changes such as weatherproofing or draft-proofing doors and windows can make your development project greener, and therefore more attractive to cost-conscious buyers in the market.