The story about a European retail company investing in AI technology to boost its energy system shows the way clever property owners are heading.
Finland’s Iki supermarket chain began installing solar panels in 2022. The company now uses AI-powered batteries to store energy from PV panels during low-consumption periods and release it during peak demand.
Buildings present a huge energy efficiency opportunity. Including construction, the sector is responsible for 39% of global energy-related carbon emissions, says the World Green Building Council. That includes operational emissions (28%) from energy used to heat, cool, and power buildings, and ‘embodied’ emissions (11%) from manufacturing, transport, and construction of materials, and the building process itself.
Such environmental considerations prompted the Conservative Government to introduce the Minimum Energy Efficiency Standards in 2016. MEES came into effect for commercial and domestic landlords in England and Wales in phases. The first phase applied to new leases and renewals from April 2018, and later expanded to cover all existing commercial leases from April 2023.
The law obliges landlords to ensure their properties have an Energy Performance Certificate rating of E or better, or a valid exemption, and to register this on the public exemption register if applicable.
However, the scope for building owners is far wider than EPCs, and the opportunity can only grow as technologies advance. Iki’s pilot project, which features 100 kW systems in several stores, will test storage technology and optimise energy use to support sustainability. The system helps reduce electricity costs, manage surplus energy, and prolong battery life by optimising battery charge and discharge cycles.
Mutiple benefits
Dominykas Stonkus, Head of Energy and Environmental Management at Iki, said: “We want to enhance renewable energy use and optimise consumption while ensuring backup power for business continuity.”
Businesses can benefit financially from greener buildings through energy cost savings. They can also attract investment and talent through improved ESG performance, while enhancing their reputation and supporting net-zero targets.
Initial costs are often offset by reduced emissions, lower maintenance, potentially higher property values and competitive advantages.
Potential applications go way beyond factories and offices. In Europe, solar panels are generating electricity on car parks, bus stops, airport buildings and sport stadiums. In the UK, more than 15 schools in Essex had solar panels installed by July 2021.
Property transactions involving energy require careful attention. Ownership, installation consent, maintenance, access rights, and insurance responsibilities must all be clear. At Acuity Law with Purpose, we’ve created a dedicated legal service tailored to the fast-evolving renewable energy industry globally. Find out more here.
