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The Challenge of Keeping Current
July, 2010
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| Rick Heward, Vice President, National Facility Operations at Cadillac Fairview |
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By Steven Chester
As Cadillac Fairview continues to focus on energy reduction and implements the best practices at its properties that it can, the company, one of North America’s largest real estate investors, has started running out of things to do, says Rick Heward, Vice President of Cadillac Fairview.
“The challenge to continually improve and to continually reduce consumptions is probably the biggest one obstacle. And it’s really sustainability in terms of those continuing decreases,” says Heward.
Heward notes that once his company covered the basic energy efficiency challenges, continuing to pursue energy efficiency technologies became much more complex. Trying to identify new technologies that not only work but generate both a return on investment has been taxing.
“Once you go down the road with new and more expensive technologies to meet those challenges, the costs get more, the returns get less, and the amount of reduction gets less. New technology is happening all the time,” Heward says. “In the last three years, in terms of sustainability in energy conservations and reductions, it has been like a snowball moving down the hill. It started very small, and literally in the last two to three years, this snowball has become huge.”
As market demand increases for new, green technologies, so has a wealth of opportunities for investors who are promoting this type of product.
“We’re being approached, more so, every day today, with people who want to present new technology to us. So that’s another challenge for us - trying to weed through the massive opportunity that is there. Some of it works; some of it doesn’t, so you really need to be careful that you’re picking the best direction, the best technologies, with the best companies, and you build your partnerships from there,” Heward says.
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