Hi Tilak: I will leave it to the mechanical engineers to help with the technological solution to the issue but the Covid crisis has accelerated a lot of issues that we all know. I have been talking with many companies and reading about lots of technology that is now out to deal with air flow and air purification issues in a very direct and very efficient manner.
Many, if not most existing buildings were never designed or built to be particularly healthy. Clearly, buildings that are now on the drawing board will have an opportunity to do it right from the get go, so that they will not have to repeat our mistakes in the building sector.
For those buildings that will need a retrofit to meet the new health standards, I would note that there is a very effective source of funding to so so. Commercial PACE (Property Assessed Clean Energy) programs now exist in nearly 40 states. PACE funds can be used for building retrofit to improve the energy efficiency and by translation the healthiness of the building in a very cost effective manner. There are now numerous commercial PACE funders across the United States, and more and more money is being made available from heavy investors given the investment security associated with commercial PACE activity. PACE funding requires no out of pocket funding requirement for the building owner, and can be paid back through their property tax assessment over a period that can last as long as 30 years depending on the technology chosen for the retrofit.
Utility companies could offer rebates and incentives that would make PACE funding even more attractive.
When a retrofit is designed to meet a net zero energy standard for the building which is now entirely possible, the use of energy will go down, and operating cost savings will result to the building owner and tenants. With the opportunity to do this with no upfront out of pocket funding requirement, any building owner would be foolish not to take advantage of thus type of opportunity at this time.
Hope this helps.
Best, Larry
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