Weed Industry Hot Topics for 2015: Energy Consumption And Banking
This article was first published on Main Street.
DENVER (MainStreet) – As Colorado celebrates its first year of legal weed that fueled a construction and real estate boom, industry leaders predict that 2015 will be a year that other states look to the state for expertise in everything from banking to energy consumption as the industry grapples with growing pains.
Ganjapreneurs in Colorado — the first state to legalize weed for recreational use — boast valuable expertise and will expand their work to other recreational markets coming online such as Washington, Oregon, Nevada and Alaska. These players will position themselves as industry names.
Making better use of new technology, particularly as it relates to energy consumption, will be critical to the cannabis industry in the coming year. LED lighting will gain more acceptance as the technology evolves and interest in reducing energy consumption increases.
“We have been waiting for this technology to prove itself with yields comparable to, or better than, traditional HPS lighting and the results seem to be coming in,” said Nathan Mendel of Your Green Contractor Inc. “We expect to see large-scale changes to these fixtures so growers can capitalize on the significant energy savings and cooling reductions available.”
With the adoption of 2015 International Energy Conservation Code, Denver and other municipalities are providing some exemptions from energy consumption regulation for cannabis trades, but should not be exempt from being good stewards of the environment, said Kim Robertson, senior marketing manager for MKK Consulting Engineers. It’s also likely that rebates will be available as Xcel looks for ways to reduce the burden on the electrical grid that the number of grows in Colorado is causing.
Nathan Mendel of Your Green Contractor Inc. predicts mergers and acquisitions in the marijuana sector that will benefit the architectural, engineering and construction industries.
“We are seeing a lot of new investments coming into the industry as the capital markets begin to understand the potential of this industry,” Mendel said. “In many cases, these new players are looking to get in a quickly as possible, which often leads them to purchase an existing operation. This means plenty of opportunity to remodel outdated or inefficient spaces as these investors look to maximize their returns.”
–Written by Margaret Jackson for MainStreet