The Role of Smart Building Technology in Achieving Sustainable Real Estate

Innovation and technology - over the past few years, these have become the two driving forces of the world. From smartphones to the Internet of Things, nearly every aspect of our daily lives is driven by these. Real estate is not untouched by digital innovations, evolving tech tools, and smart solutions as well. According to a recent business report, the smart building technology market is likely to expand to USD 265.37 billion by the year 2028.

It is important to remember that while we are leveraging technology and innovations to revolutionise real estate and construction, there is another important dialogue that is claiming the attention of the world. And that is about sustainability and environmental conservation.

So, can smart building technology be used to develop green housing and sustainable projects?

How can we use tech tools to make energy efficiency a reality and lower our carbon footprint? Let's take a look.

Improving efficiency through smart technology

Smart buildings are equipped with devices and appliances that collect data, analyse them, and optimise the use of available resources. Let us understand this with a concrete example. When you walk into your living room, your smart home is capable of sensing your presence and turning on the lights. It can also read the ambient natural lighting and selectively offer the necessary lighting to match. The HVAC (heating, ventilation, and air conditioning) system is capable of reading external weather conditions and offering support to the natural insulation systems. When you walk out, all these devices turn themselves off, sensing your motion. Using such tech-driven devices and systems can save up to 30% of your energy consumption and generate nearly 40% operational efficiency over the next 30-40 years. The applications of smart technology in boosting energy conservation and providing a green, clean lifestyle are mind boggling.

Smart technology for green cities

Technological innovations can help conserve energy and water on a micro (individual) level, but they are indeed a blessing to urban planners, architects, and engineers who are looking to develop green cities and large-scale residential zones.

Waste management, recycling, pollution control, and finding sustainable water resources are the major challenges faced by modern urban planners. Most of the cities in India have grown in an unplanned way, adding to population and size in an unwieldy manner. This has put an enormous strain on the available energy production units, water resources, and waste management systems. With the help of data analytics, Artificial Intelligence, and innovative technology, the upgradation of existing systems and the construction of new ones can be made possible, particularly with minimal impact on the ecological balance. The predictive ability of tech-powered systems can make us equipped to handle the burgeoning population as well.

Planning green zones

As individual homebuyers, we look for waterfronts, gardens, and green spaces in the projects we have shortlisted. We have become more health and fitness conscious, and the outbreak of the COVID-19 pandemic has precipitated this need for a clean, pollution-free environment. Looking at this from a macro perspective, cities and urban areas also require green zones. Unfortunately, these are nearly impossible to find, leading to an increase in air quality and pollution in most major cities. The use of smart technology can help local administration identify these dwindling green zones and plan to course-correct any such developments.

In recognition of the contribution of smart technology towards sustainable development, the government of India launched its 100 Smart Cities Mission in 2015 with a budgetary allocation of USD 12 billion. The development of these cities shall be a major step forward in India's fulfilment of its obligations to Agenda 21.

The cost of sustainability

While it is interesting to read and debate about the overarching consequences of environmental degradation and the role economies have in combating it, there is always the question of our individual responsibilities. It is important to consider here that opting for smart homes and sustainable housing can come at a higher cost. In the long run, though, the benefits far outweigh the costs. The savings in medical bills, utility expenditures, and lifestyle costs alone make up for more than the slightly higher costs of smart, sustainable residential units.

Smart technology and sustainable living are not only for corporations, real estate developers, urban planning organisations, and governments. These are part of a lifestyle that must be adopted to make our cities and the planet a habitable place for the future.

If you are a prospective homebuyer and are looking for a smart, green home in Mumbai, your Blox relationship manager can help you screen through projects in the chosen locality and shortlist residential buildings that are built on sustainable, green principles. Together we can make the world a better place while improving the quality of our lives as well.