The threat of extreme wildfires has doubled in the past 20 years, with almost 20,000 fires blazing across the United States in 2024 alone. These high-intensity fires can be deadly, expensive, and create lingering health and environmental consequences. While we are used to seeing firefighters on the frontlines, researchers hope that next-generation smart technology, augmented by artificial intelligence (AI), will also play a key role in battling these conflagrations. Many municipalities, particularly those near wildfire-prone forests, are beginning to incorporate fire-focused advances (or “firetech”) into their smart city ecosystems.
Big Data Meets Big Green: Data Centers and Carbon Removal Compete for Zero-Emission Energy
Artificial intelligence, data centers, carbon removal and zero-emission power may sound like a winning line (plus the Free Space) on a 2024 Buzzword Bingo card. But the concepts have come into dramatic real-world tension as private and public actors seek to accommodate the digital and environmental imperatives for green energy.
After years of fairly stable demand, punctuated by declines during the pandemic and economic slumps, electricity demand is projected to double by 2050. A principal cause is the rapid expansion in the power needed to energize and cool servers amid explosive growth in the number and size of data centers, crypto miners, and other point sources of computation. Data centers were 3% of U.S. demand and are projected to be up to 9% or more by 2030; AI will drive a 160% surge in data center demand by 2030. A commentator notes, “We haven’t seen [growth like] this in a generation.” Continue Reading ›
Real Estate & Construction News Roundup (9/4/24) – DOJ Sues RealPage, Housing Sales Increase and U.S. Can’t Build Homes Fast Enough
In our latest roundup, environmental regulations tighten for commercial properties, Wells Fargo sells most of its commercial mortgage services business, first-time home buyers struggle with housing affordability, and more!
Client Conversations: Nik Bandak of Bandak Project Management
Pillsbury partner Adam Weaver recently sat down with Bandak Project Management CEO Nik Bandak to discuss interest rates and financing trends, human capital and presence equity, AI and more.
Developer Perspectives on Today’s Energy Storage Markets
In 2023, the world added an impressive 45 gigawatts/97 gigawatt-hours of energy storage capacity, nearly tripling year-on-year growth, with the majority driven by battery storage installations. The global energy storage market is projected to continue its rapid expansion in 2024, adding over 100 gigawatt-hours of capacity, primarily from the United States and China. In the United States, battery storage capacity on the grid has grown tenfold to 16,000 megawatts, with expectations to double again this year, led by significant growth in Texas, California and Arizona.
A distinguished panel of energy storage developers convened at the 2024 Infocast Energy Storage Finance & Investment Summit in San Diego to discuss the current market dynamics and future trajectory of energy storage. The following is an edited transcript of their discussion.
Real Estate & Construction News Roundup (8/21/24) – REITs Show Their Strength, Energy Prices Increase Construction Costs and CRE Struggles to Keep Pace
In our latest roundup, UBS to liquidate $2 billion real estate fund, hotel workers in San Francisco vote to strike, housing market to change after blockbuster settlement, and more!
Real Estate & Construction News Roundup (8/14/24) – Commercial Real Estate AI, Hotel Pipeline Growth, and Housing Market Improvements
In our latest roundup, nonresidential spending drops, realtor payment structure changes, office vacancy rates soar, and more!
Real Estate & Construction News Roundup (8/6/24) – Construction Tech Deals Surge, Senators Reintroduce Housing Bill, and Nonresidential Spending Drops
In our latest roundup, cybersecurity attacks target contractors, U.S. banks report weaker profits, additional commercial real estate is distressed, and more!
Real Estate & Construction News Roundup (7/31/24) – International Homebuying Shrinks Commercial Real Estate Focus on Sustainability, and U.S. Banks Boost Provisions for Credit Losses
In our latest roundup, mortgage rates drop to lowest levels since March, hotel construction activity highest since February 2023, Biden administration calls for legislation regarding property owners, and more!
Balancing Cybersecurity Threats in Smart Cities: Is the Potential Convenience of “Smart” Intersections Worth the Risk?
The term “smart cities” has become popular parlance for municipalities’ attempts to enhance delivery of urban services and infrastructure through information and communications technology. While they may conjure images of neon-lit high rises or streetscapes populated by sleek, hovering vehicles, a bit like the 1960s-era The Jetsons cartoon envisioned our high-tech future, the reality of smart cities has begun to emerge in more subtle, less glamourous forms. Cities tend to focus on wastewater monitoring, traffic control and energy distribution technologies in their efforts to become incrementally “smarter.”