An Assessment of Renewable Energy Adoption in Commercial Real Estate Developments in Abuja
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Background of the Study
The growing demand for sustainable practices in real estate development has highlighted the importance of renewable energy integration in commercial properties. In recent years, renewable energy technologies such as solar power, wind energy, and energy-efficient systems have gained prominence for their ability to reduce environmental impacts and operational costs (Obi & Adeyemi, 2023).
In Abuja, Nigeria's capital, commercial real estate developments are beginning to embrace renewable energy, yet the adoption rate remains below potential. While government policies encourage sustainable building practices, obstacles such as high initial investment costs, limited knowledge, and regulatory challenges still impede broader integration of renewable energy solutions (Ibrahim & Musa, 2024). This study aims to assess the level of renewable energy adoption in commercial real estate developments in Abuja and identify the key factors influencing its integration.
Statement of the Problem
Despite the increasing global focus on renewable energy, commercial real estate developments in Abuja face barriers to incorporating these energy sources. These barriers include financial constraints, lack of technical expertise, and the absence of robust incentives. As a result, developers may resort to conventional energy sources, which increases the carbon footprint and operational costs (Okafor & Bello, 2023).
There is insufficient research on how renewable energy adoption is affecting commercial real estate developments in Abuja, especially in terms of long-term sustainability and market attractiveness. This study intends to bridge this gap by evaluating the factors hindering or facilitating renewable energy integration.
Objectives of the Study
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To evaluate the extent of renewable energy adoption in commercial real estate developments in Abuja.
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To identify the factors influencing the adoption of renewable energy in the real estate sector.
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To recommend strategies for increasing the adoption of renewable energy in commercial real estate developments in Abuja.
Research Questions
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To what extent have commercial real estate developments in Abuja adopted renewable energy technologies?
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What are the factors influencing the adoption of renewable energy in commercial real estate developments?
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What strategies can encourage greater adoption of renewable energy in Abuja's commercial real estate sector?
Research Hypotheses
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Renewable energy adoption is not significantly prevalent in commercial real estate developments in Abuja.
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Factors such as financial constraints and lack of technical knowledge significantly hinder the adoption of renewable energy in real estate.
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Strategies for promoting renewable energy adoption do not significantly increase its use in commercial real estate developments in Abuja.
Scope and Limitations of the Study
The study focuses on commercial real estate developments in Abuja from 2015 to 2025. Limitations include potential non-disclosure of energy usage data by developers and varying levels of adoption across different real estate projects.
Definitions of Terms
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Renewable Energy Adoption: The integration of renewable energy sources, such as solar and wind, in real estate developments.
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Commercial Real Estate Developments: Properties developed for business purposes, including office buildings, retail spaces, and mixed-use developments.
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Abuja: The capital city of Nigeria, located in the central region of the country.
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