A Smart Grid. Nice!
Recent news from BOMA/Chicago is the type of news as a resident of the Northeast I've been waiting to read about — and it's news that savvy real estate investors should be aware of as well. Here's the news:
The Building Owners and Managers Association of Chicago (BOMA/Chicago) has entered into a Memorandum of Understanding with the Korean Smart Grid Association and two of South Korea's largest energy and technology companies, KT Corporation and LG Electronics, to develop a commercial smart grid pilot program involving nearly a dozen office buildings in downtown Chicago. The pilot program will pioneer the construction of a virtual generator using buildings as electric grid resources. It will be the first smart grid pilot program of its kind in the United States.
BOMA/Chicago's commercial smart grid pilot program will enable participating buildings to manage their electricity consumption more effectively and to monetize the resulting cost savings and demand response program revenues. Through the use of smart grid technologies, such as smart meters, variable speed drives and digital controls, building managers will develop more granular operational control of their energy systems. This, in turn, will enable them to curtail or reschedule energy usage in ways that will not adversely impact tenant comfort.
Good for customers — good for business. Wow! What a concept. Imagine now if we can get the entire country working and thinking the same way, and hundreds of thousands of new energy workers come on the market — whoosh, more money, more employees, more need for space, more cash flow, more financing… OK, so why aren't we all moving in this direction?