Search results

1 – 10 of over 1000
Article
Publication date: 11 May 2015

Toby Bruce, Jian Zuo, Raufdeen Rameezdeen and Stephen Pullen

The purpose of this paper is to explore the barriers preventing investment in the re-use of low-grade multi-storey building stock in order to identify attributes that…

1518

Abstract

Purpose

The purpose of this paper is to explore the barriers preventing investment in the re-use of low-grade multi-storey building stock in order to identify attributes that determine whether an existing building is suitable for retrofitting.

Design/methodology/approach

Semi-structured interviews were undertaken with key industry practitioners to investigate existing practices and barriers facing low-grade building retrofits and what “ideal” multi-storey building features represent a successful investment opportunity.

Findings

The findings showed that tenant commitment is necessary before any project goes ahead and that there exist many barriers influencing the investment decision. These include: high levels of asbestos found in existing buildings; changes in the National Construction Code necessitating enhanced fire safety and disability access; heritage listing; lack of awareness; overestimation of costs involved on simple and effective energy efficiency upgrades and change in tenant demands towards modern and efficient open plan offices. Many low-grade structures are privately owned inherited assets where the owners lack the expertise and capital to undertake retrofitting effectively.

Research limitations/implications

The study is focused on the Adelaide CBD in South Australia but the findings are relevant to other Australian cities.

Practical implications

There is room in the market for more positive and influential schemes such as the Green Building Fund that encourage more energy efficiency upgrading of these buildings.

Social implications

The greater occurrence of retrofitting and re-use of older buildings, rather than demolition and rebuilding, has advantages with regard to reducing the impact of buildings on the environment and promoting sustainability.

Originality/value

The research has indicated certain features of older buildings which render them as suitable candidates for retrofitting and refurbishment.

Details

Structural Survey, vol. 33 no. 2
Type: Research Article
ISSN: 0263-080X

Keywords

Article
Publication date: 3 September 2020

Laura Gabrielli, Aurora Greta Ruggeri and Massimiliano Scarpa

This paper aims to develop a forecasting tool for the automatic assessment of both environmental and economic benefits resulting from low-carbon investments in the real…

Abstract

Purpose

This paper aims to develop a forecasting tool for the automatic assessment of both environmental and economic benefits resulting from low-carbon investments in the real estate sector, especially when applied in large building stocks. A set of four artificial neural networks (NNs) is created to provide a fast and reliable estimate of the energy consumption in buildings due to heating, hot water, cooling and electricity, depending on some specific buildings’ characteristics, such as geometry, orientation, climate or technologies.

Design/methodology/approach

The assessment of the building’s energy demand is performed comparing the as-is status (pre-retrofit) against the design option (post-retrofit). The authors associate with the retrofit investment the energy saved per year, and the net monetary saving obtained over the whole cost after a predetermined timeframe. The authors used a NN approach, which is able to forecast the buildings’ energy demand due to heating, hot water, cooling and electricity, both in the as-is and in the design stages. The design stage is the result of a multiple attribute optimization process.

Findings

The approach here developed offers the opportunity to manage energy retrofit interventions on wide property portfolios, where it is necessary to handle simultaneously a large number of buildings without it being technically feasible to achieve a very detailed level of analysis for every property of a large portfolio.

Originality/value

Among the major accomplishments of this research, there is the creation of a methodology that is not excessively data demanding: the collection of data for building energy simulations is, in fact, extremely time-consuming and expensive, and this NN model may help in overcoming this problem. Another important result achieved in this study is the flexibility of the model developed. The case study the authors analysed was referred to one specific stock, but the results obtained have a more widespread importance because it ends up being only a matter of input-data entering, while the model is perfectly exportable in other contexts.

Details

Journal of European Real Estate Research , vol. 13 no. 3
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 5 February 2018

Olubukola Tokede, Nilupa Udawatta and Mark Luther

Heritage buildings are a crucial part of the UK built sector. They perpetuate a sense of identity, prestige and community. Many heritage buildings however tend to be…

Abstract

Purpose

Heritage buildings are a crucial part of the UK built sector. They perpetuate a sense of identity, prestige and community. Many heritage buildings however tend to be energy inefficient and the scope for retrofitting such buildings is paramount. Heritage buildings require ratification from planning bodies in order to undertake any alteration on the building. This tends to create a bottleneck in the retrofitting of heritage office buildings. The paper aims to discuss this issue.

Design/methodology/approach

This study utilises a case study building in Scotland to evaluate the potential for retrofitting in a UK heritage office building. Building energy simulation software is used to generate the energy data in different retrofit options. A scenario analysis on the heritage status of the building is also undertaken.

Findings

The costs, energy consumption and carbon emission levels are evaluated and compared. It was found that the differential in annual energy savings achieved, based on the proportion of capital cost to operational cost, is 14.6 per cent in the heritage building, compared to 24.6 per cent in the non-heritage building.

Originality/value

The study suggests that government and other stakeholders should seek for ways of incentivising retrofit investments in heritage buildings. This will provide an effective way of minimising the contributions of the built environment to global warming and climate change.

Details

Built Environment Project and Asset Management, vol. 8 no. 1
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 12 October 2018

Indeewari Ranawaka and Harshini Mallawaarachchi

The purpose of this paper is to evaluate the risks associated with green retrofit projects in Sri Lanka in order to develop a risk responsive framework.

Abstract

Purpose

The purpose of this paper is to evaluate the risks associated with green retrofit projects in Sri Lanka in order to develop a risk responsive framework.

Design/methodology/approach

The survey method under the quantitative approach was selected as the research methodology as this research is required evaluating the risks associated with green retrofit projects. Both preliminary survey and the main questionnaire survey were conducted to collect the data. The survey data were evaluated and analysed by using mode value as a descriptive statistical analysis technique, and the risk rating matrix.

Findings

The overall results of risk assessment deliberated that there are ten “critical” risk factors, such as construction cost, inflation, energy saving uncertainty, warranty risk, delay in project completion, productivity and quality risks, requirement of permits and their approval, design changes, damage to structure or property and procurement delay influencing green retrofitting. Finally, a risk responsive framework was developed by proposing suitable strategies for mitigating the risks associated with green retrofitting.

Practical implications

The developed framework can be used as a basis to mitigate the risks associated with green retrofitting projects. An abundant upgrade of existing high-rise buildings into green can be reached.

Originality/value

A little attention paid on green retrofitting and the absence of proper risk management strategy for green retrofit projects in current practice have made this research a paramount need and a focal point.

Details

Built Environment Project and Asset Management, vol. 8 no. 5
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 17 July 2017

Melissa Kazemi Rad, David Riley, Somayeh Asadi and Parhum Delgoshaei

The purpose of this paper is to examine significant steps taken by the Pennsylvania State University (Penn State) to account for both energy cost savings and greenhouse…

Abstract

Purpose

The purpose of this paper is to examine significant steps taken by the Pennsylvania State University (Penn State) to account for both energy cost savings and greenhouse gas (GHG) emissions reduction goals through strategic investments in energy conservation measures (ECMs) in campus buildings. Through an analysis of multiple years of investment in facility upgrades across the university, the impacts of ECMs of various types are characterized by building type. The standards and criteria for ECMs investments are also evaluated with the goal to develop a predictive tool to support decision making pertaining to an annual investment in a portfolio of ECMs that will maintain a trajectory to achieve both financial return on investment as well as GHG reduction goals.

Design/methodology/approach

This study is comprised of three main parts: analyzing the energy costs saving and GHG emissions reduction contribution of various building types in which ECMs were conducted, analyzing costs saving and GHG emissions reduction contribution of each ECM while considering the average annual investments made in them and estimating the impact of upgrading Penn State’s steam plants from firing a mixture of coal and natural gas to natural gas only on the GHG emissions.

Findings

These analyses help identify which types of buildings and ECMs would have larger savings and emissions reduction contributions. A calculator is also created to enable forecasting of costs saving and GHG emissions reduction of investment distribution strategy among ECMs. This study demonstrates that the calculator based on data from previous years will benefit decision makers in more wisely configuring the investment portfolio.

Originality/value

This paper fulfills an identical need to couple energy efficiency strategies coupled with the environmental impacts associated with different fossil fuel energy sources.

Details

Engineering, Construction and Architectural Management, vol. 24 no. 4
Type: Research Article
ISSN: 0969-9988

Keywords

Open Access
Article
Publication date: 24 July 2020

Maximilian M. Spanner and Julia Wein

The purpose of this paper is to investigate the functionality and effectiveness of the Carbon Risk Real Estate Monitor (CRREM tool). The aim of the project, supported by…

2924

Abstract

Purpose

The purpose of this paper is to investigate the functionality and effectiveness of the Carbon Risk Real Estate Monitor (CRREM tool). The aim of the project, supported by the European Union’s Horizon 2020 research and innovation program, was to develop a broadly accepted tool that provides investors and other stakeholders with a sound basis for the assessment of stranding risks.

Design/methodology/approach

The tool calculates the annual carbon emissions (baseline emissions) of a given asset or portfolio and assesses the stranding risks, by making use of science-based decarbonisation pathways. To account for ongoing climate change, the tool considers the effects of grid decarbonisation, as well as the development of heating and cooling-degree days.

Findings

The paper provides property-specific carbon emission pathways, as well as valuable insight into state-of-the-art carbon risk assessment and management measures and thereby paves the way towards a low-carbon building stock. Further selected risk indicators at the asset (e.g. costs of greenhouse gas emissions) and aggregated levels (e.g. Carbon Value at Risk) are considered.

Research limitations/implications

The approach described in this paper can serve as a model for the realisation of an enhanced tool with respect to other countries, leading to a globally applicable instrument for assessing stranding risks in the commercial real estate sector.

Practical implications

The real estate industry is endangered by the downside risks of climate change, leading to potential monetary losses and write-downs. Accordingly, this approach enables stakeholders to assess the exposure of their assets to stranding risks, based on energy and emission data.

Social implications

The CRREM tool reduces investor uncertainty and offers a viable basis for investment decision-making with regard to stranding risks and retrofit planning.

Originality/value

The approach pioneers a way to provide investors with a profound stranding risk assessment based on science-based decarbonisation pathways.

Details

Journal of European Real Estate Research , vol. 13 no. 3
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 13 November 2017

Victor Oluwasina Oladokun, David G. Proverbs and Jessica Lamond

Flood resilience is emerging as a major component of an integrated strategic approach to flood risk management. This approach recognizes that some flooding is inevitable…

Abstract

Purpose

Flood resilience is emerging as a major component of an integrated strategic approach to flood risk management. This approach recognizes that some flooding is inevitable and aligns with the concept of “living with water.” Resilience measurement is a key in making business case for investments in resilient retrofits/adaptations, and could potentially be used to inform the design of new developments in flood prone areas. The literature is, however, sparse on frameworks for measuring flood resilience. The purpose of this paper is to describe the development of a fuzzy logic (FL)-based resilience measuring model, drawing on a synthesis of extant flood resilience and FL literature.

Design/methodology/approach

An abstraction of the flood resilience system followed by identification and characterization of systems’ variables and parameters were carried out. The resulting model was transformed into a fuzzy inference system (FIS) using three input factors: inherent resilience, supportive facilities (SF) and resident capacity.

Findings

The resulting FIS generates resilience index for households with a wide range of techno-economic and socio-environmental features.

Originality/value

It is concluded that the FL-based model provides a veritable tool for the measurement of flood resilience at the level of the individual property, and with the potential to be further developed for larger scale applications, i.e. at the community or regional levels.

Details

International Journal of Building Pathology and Adaptation, vol. 35 no. 5
Type: Research Article
ISSN: 2398-4708

Keywords

Article
Publication date: 17 March 2022

Geraldo Jose Ferraresi de Araujo, Adhemar Ronquim Filho, Luciana Oranges Cezarino and Lara Bartocci Liboni

Renewables such as sugar-energy biomass can contribute to national electrical security, job creation and mitigation of greenhouse gas emissions. However, after the auction…

Abstract

Purpose

Renewables such as sugar-energy biomass can contribute to national electrical security, job creation and mitigation of greenhouse gas emissions. However, after the auction of reserve energy, in 2008, exclusive biomass, in the regulated contracting environment (RCE), the authors observe that this energy environment has lost competitiveness in the auctions. Thus, a study on the present theme is justified, based on the problem: What are the reasons for the lack of competitiveness of sugar-energy bioelectricity in the Auctions of the RCE of the National Electric Energy Agency? The purpose of this study is to understand the situation of sugar-energy bioelectricity in the Brazilian market.

Design/methodology/approach

Literature review was conducted through the Scientific Electronic Library Online database, as well as the survey of primary documents at Sugarcane Industry Union and Electric Energy Trading Chamber.

Findings

The reasons for lack of competitiveness in RCE electricity auctions are: distant location of transmission lines; difficulties in obtaining licensing; delay in responses from environmental agencies; difficulties in securing financing for electricity generation projects for distilleries; non-pricing of positive environmental externalities as adequate disposal of waste; and the non-recovery of the cost of retrofit of the plants. The present situation may create economic, social and ecological circumstances adverse for Brazilian development, such as a lack of employment and income generation, loss of international currencies from imports of technologies not developed and produced in the country and more significant inefficiency greenhouse gas mitigation.

Originality/value

The originality of this study is in the contribution to the scarce literature on the understanding of the reasons for the lack of competitiveness of the Brazilian sugarcane sector in auctions of the regulated energy environment, based on SWOT analysis and, based on this understanding, to propose solutions for the expansion of this important matrix energy.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 1 February 2018

Rita Fabbri, Laura Gabrielli and Aurora Greta Ruggeri

The purpose of this paper is to examine the cross-sectoral collaboration between conservation and economic appraisal, and to process a financial analysis for private…

Abstract

Purpose

The purpose of this paper is to examine the cross-sectoral collaboration between conservation and economic appraisal, and to process a financial analysis for private owners of a built heritage.

Design/methodology/approach

The methodology applied addresses the financial analysis of restoration through a discounted cash flow analysis, together with a life cycle costing. Costs and revenues are both analysed in this paper. Some energy-saving measures are applied to cut running costs and decrease the energy required by the building, using as reference the “Guidelines for improving energy efficiency in cultural heritage” drafted by MiBACT, which considers the respect of restoration principles. In order to increase revenues, part of the building is rented. The attractiveness of the investment opportunity is valued through the calculation of the net present value of cash flows, the payback period and the internal rate of return.

Findings

The paper offers a simple strategy for the planning of cost-revenues, preventively allowing verification if the conservation is economically feasible and if the owners can afford the operation. The strategic planning will give the owners the chance of maintaining the property of their building and achieve a proper restoration on it.

Originality/value

The novelty of the paper is the study of cooperation between conservation and economic valuation, but also the focus on a specific portion of twentieth-century heritage, the war-wounded houses, which represent a widespread patrimony, on which it is not clear how to operate yet.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. 8 no. 2
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 16 November 2015

Hassan Adan and Franz Fuerst

Improving the energy efficiency of the existing residential building stock has been identified as a key policy aim in many countries. The purpose of this paper is to…

Abstract

Purpose

Improving the energy efficiency of the existing residential building stock has been identified as a key policy aim in many countries. The purpose of this paper is to review the extant literature on investment decisions in domestic energy efficiency and presents a model that is both grounded in microeconomic theory and empirically tractable.

Design/methodology/approach

This study develops a modified and extended version of an existing microeconomic model to embed the retrofit investment decision in a residential property market context, taking into account tenants’ willingness to pay and cost-reducing synergies. A simple empirical test of the link between energy efficiency measures and housing market dynamics is then conducted.

Findings

The empirical data analysis for England indicates that where house prices are low, energy efficiency measures tend to increase the value of a house more in relative terms compared to higher-priced regions. Second, where housing markets are tight, landlords and sellers will be successful even without investing in energy efficiency measures. Third, where wages and incomes are low, the potential gains from energy savings make up a larger proportion of those incomes compared to more affluent regions. This, in turn, acts as a further incentive for an energy retrofit. Finally, the UK government has been operating a subsidy scheme which allows all households below a certain income threshold to have certain energy efficiency measures carried out for free. In regions, where a larger proportion of households are eligible for these subsidies,the authors also expect a larger uptake.

Originality/value

While the financial metrics of retrofit measures are by now well understood, most of the existing studies tend to view these investments in isolation, not as part of a larger bundle of considerations by landlords and owners of how energy retrofits might influence a property’s rent, price and appreciation rate. In this paper, the authors argue that establishing this link is crucial for a better understanding of the retrofit investment decision.

Details

Smart and Sustainable Built Environment, vol. 4 no. 3
Type: Research Article
ISSN: 2046-6099

Keywords

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