This new study from the Institute for Market Transformation (IMT) and the Pacific Coast Collaborative provides dynamic coverage of why and how the benchmarking of building energy use presents an economic opportunity. The study starts:
“Billions of dollars of value is currently locked inside the buildings of America’s cities and towns. This untapped wealth is the gap between the amount of energy buildings use to operate and meet occupants’ needs and the amount of energy that would be required if buildings were equipped with the most efficient technologies and design techniques…
“Research is showing that energy benchmarking and transparency policies and programs are important tools to transform the real estate market into one that properly values energy efficiency. As these policies become more common, building owners, tenants, governments, and the public gain an improved understanding of building energy use, resulting in significant energy reductions, rising demand for energy-efficient properties, and a range of economic and environmental benefits.”
The study cites a number of facts compelling to local governments and industry alike, including:
- commercial tenants are willing to pay more for green spaces;
- tenants are more likely to rent and remain in green spaces;
- green buildings represent lower risk to lenders;
- building energy data gives policy makers data to choose more efficient and effective programs and projects.
And, to state the obvious, energy-efficient buildings cost less to run and provide ongoing savings in utility bills (and often maintenance). To read the report in full, click here.