Students are our future. Our future workforce. Our future leaders. Our future entrepreneurs. So it only makes sense that we should invest in the future of the institutions and infrastructure that help prepare them for their future roles in our economy.
And that infrastructure isn’t limited to just curriculums and the classrooms where they learn them. It also includes where they live and play. It includes student housing.
When it comes to student housing management strategies, it involves so much more than just providing day-to-day services and amenities. It’s also about creating a student housing experience that is sustainable, supports future enrollment targets, and reduces operational costs. Smart energy management technology contributes directly to each of those outcomes.
Common Energy Management Challenges Student Housing Managers Face
Student housing is uniquely both residential and commercial. On the one hand, students live in residence most of the year, but not the whole year round. They are short-term, temporary residents who occupy both private rooms and common areas, and they require a range of services and amenities throughout their student experience.
Of course, there are overhead costs that come with providing the services and amenities. And while student housing managers must ensure that their properties operate at a profit, they’re also more limited than other commercial property managers on which overhead costs they can eliminate.
High Energy Consumption
Energy consumption represents one of the most significant sources of operating costs (and emissions) in the student housing industry. From common areas and shared amenities to running appliances and simply keeping the lights on, energy consumption fluctuates wildly in a student residence throughout the day.
Spikes in energy consumption, especially during peak-demand times, are costly (and harder on appliances). Fortunately, smart student housing tech gives student housing operators the ability to manage energy consumption and overhead costs in real time — without compromising student comfort.
Aging Infrastructure
Aging infrastructure presents yet another significant hurdle for energy efficiency initiatives, particularly in student housing residences. In fact, many student housing residences were not built with efficient energy-efficient models in mind, resulting in high day-to-day operating expenses.
Short of overhauling the entire building, student housing managers are often left with few options to improve energy efficiency. Outdated HVAC systems, inefficient lighting, and poorly insulated windows all contribute to excessive energy use. And while upgrading these systems may seem costly in the short term, the long-term benefits far outweigh the initial investment.
Budget Constraints
Limited budgets often force difficult trade-offs between immediate needs and long-term energy management investments. Indeed, tight operating budgets mean that large-scale projects, like installing new smart HVAC systems, or retrofitting buildings with better insulation, can be deprioritized.
The long-term cost, however, is much more significant. Outdated energy management systems continue to waste energy and drive up operational costs, ultimately eroding any savings gained from postponing improvements. Energy management solutions can help student housing managers strike that perfect balance between operational efficiency and fiscal responsibility.
Behavioral Inconsistencies
Student housing managers must also account for the diverse energy consumption patterns of every individual student. Some students may leave lights and devices for extended periods of time, while others may use heating and cooling inefficiently. These inconsistent and excessive energy consumption patterns are not only a major obstacle to profitability, but also sustainability.
Managing individual energy use behaviors becomes even more critical when considering the growing importance of sustainability in students’ college selection process. According to a 2023 survey by the Princeton Review, 67% of prospective applicants say a college or university’s commitment to environmental issues would affect their decision to apply or attend.
6 Ways to Future-Proof your Student Housing Property
Smart technology is changing the way both students interact with their environment, and how campus staff continue to streamline energy management. From IoT and machine learning to smart HVAC systems and renewable energy sources, there is a range of smart tech being used to enrich the quality of student life.
Implement Smart Thermostats and HVAC Controls
Climate control is an essential feature of any student housing property, representing a significant portion of energy consumption and overhead costs. Smart thermostats, however, help streamline energy use in both common areas and dorm rooms, and can be pre-programmed to heat or cool a space based on real-time occupancy patterns.
Smart thermostats aren’t the only smart technology that student housing operators can turn to. Our smart HVAC systems integrate seamlessly with these thermostats to analyze peak demand, optimizing energy use year-round. In fact, the Verdant energy management system collects data on peak demand loads, historical thermodynamics, and local weather patterns to continuously streamline energy efficiency.
Upgrade to Energy-Efficient Lighting
Lighting is yet another significant operational cost student housing managers simply can’t avoid. After all, keeping the lights on in the common areas and hallways is crucial for both safety and comfort. Smart lighting systems, however, ensure student housing operators can easily reduce energy consumption while enhancing convenience.
Much like smart thermostats and smart HVAC systems, smart lighting solutions adjust energy use based on real-time occupancy patterns. In fact, these systems leverage occupancy sensors to manage lighting according to occupancy and time of day.
In simple terms, smart lighting systems can turn off the lights in unoccupied spaces and instantly brighten common areas as students enter. Best of all, these smart lighting solutions integrate seamlessly with energy management systems like Verdant.
Adopt Renewable Energy Sources
Reducing and optimizing energy consumption isn’t the only strategy for lowering energy costs in student housing properties. Renewable energy sources, including solar panels, are an equally effective way of generating electricity independently.
Solar panels ultimately help student housing managers reduce energy costs in two ways: (1) by lowering their dependence on the conventional energy grid, and (2) by enabling them to sell back excess solar energy. This means that not only can student housing operators reduce (or offset) energy expenses, but can also create potential revenue streams.
Air Source Heat Pumps
Air Source Heat Pumps are yet another way student housing managers can optimize energy consumption beyond smart HVAC and smart thermostat technologies. Put simply, Air Source Heat Pumps (ASHPs) give student housing operators the ability to transfer cold air or warm air from outside a residence to indoor spaces that need cooling or heating respectively.
These advances in HVAC hardware technology reduce overdependence on central HVAC systems, optimizing energy consumption related to heating and cooling. Indeed, ASHPs serve as energy-efficient alternatives to traditional space heaters and air conditioners.
Automatic Shutdown Sockets
Another source of wasteful energy consumption is “vampire power draw” or “standby power“ — which is when energy is consumed by appliances while they are switched off, but still plugged in and in some kind of standby mode.
Student housing managers, however, can reduce vampire power draw by installing Automatic Shutdown Sockets. Essentially, Automatic Shutdown Sockets are power outlets that use either timers or infrared sensors to cut power to any connected device when (1) the device is not in use, or (2) the space is outright unoccupied. In other words, Automatic Shutdown Sockets allow property managers to save on powering appliances and other devices whenever students are not in their room or when a common area is not in use.
Energy Efficient Windows
As much as student housing managers can do to optimize energy consumption through smart technology and appliances, they can also reduce their HVAC runtimes with energy efficient windows. As the US Department of Energy points out, “ENERGY STAR® qualified windows will improve indoor comfort and filter out damaging ultraviolet light [saving significantly on] heating and cooling costs.” The financial incentives for installing energy efficient windows, moreover, extend beyond energy cost savings:
Energy savings are not the only way to calculate the worth of a new window installation. New windows also increase […] property value. In fact, installing a set of new vinyl windows could add as much as $12,000 to [a] home’s selling price
So in addition to reducing HVAC energy costs, energy efficient windows also increase the market value of a property. And if energy efficient windows can increase the value of a single home by $12,000, the potential increase in value of a commercial property such as a student residence would be significant. So similar to smart HVAC systems, energy efficient windows not only reduce energy costs, but also increase a property’s resale value.
Benefits of Implementing Smart Energy Management in Student Residences
Future proofing student residences not only has a positive impact on your bottom line, but also enhances the overall living experience for students. Smart technologies improve student comfort, ensuring optimal temperature control and lighting at all times. Additionally, smart energy management systems create a more sustainable experience, reducing energy waste and carbon emissions.
This ensures that student housing operators can reach their ESG targets, creating an environment and campus culture that reflects the diversity of both tenants and society at large. In fact, implementing ESG best practices opens up advantageous borrowing opportunities, and can equally attract new investors.
Why Future Proof your Student Housing Residence?
Student housing management goes beyond merely increasing profitability. Student housing management is about (1) ensuring student comfort, (2) creating a sustainable environment, (3) supporting future enrollment goals, and (4) reducing operational costs. Smart energy management technology supports all these goals.
In other words, these technologies give student housing operators the ability to strike the perfect balance between energy efficiency and student satisfaction. When implemented, smart technologies reduce energy waste, enhance sustainability efforts, and create a more appealing living environment for environmentally conscious students. And catering to this ever-growing demographic helps student housing providers ensure a prosperous future.
Future-Proofing your Student Housing Residence with Verdant
Verdant’s energy management system is the ideal choice for future-proofing your student housing property, ensuring that they maximize energy savings when the units are unoccupied. Our smart thermostats use occupancy sensors and patented software to reduce HVAC energy usage.
Featuring a number of convenient settings, from night occupancy mode to flexible setbacks, Verdant integrates seamlessly with your existing or modern student housing infrastructure. Join industry-leading partners and learn how you can reduce HVAC runtimes by 45% on average with our plug-and-play, award-winning energy management system in your student housing property. Book a demo here and start saving energy with Verdant now!