How does your building rank on energy efficiency?
Tenants in today’s marketplace exercise a degree of subjectivity regarding “green buildings” when selecting a rental property. While location and cost are still the driving factors, companies also value buildings for their green credentials.
Through its recent energy benchmarking and disclosure ordinance, Denver is requiring all commercial buildings 25,000 square feet and larger to benchmark their energy consumption using U.S. EPA’s EnergyStar Portfolio Manager and making this data publicly available (map here). While it’s only one data point in a complex decision, more and more companies both want to work in — and be seen in — environmentally sustainable buildings. It’s part of their company brand, it affects the choices made by their employees, and it has to reconcile with their stated corporate social responsibility objectives.
The expectation is that the rest of the Denver Metro area jurisdictions will follow suite in the next few years. While energy benchmarking data is currently advisory and intended to influence the decisions of potential or existing customers, compliance with a minimum level of building energy efficiency is likely to become mandatory in the future.
The experience from other cities has shown that this decision is accompanied by shortage of contractors able to complete the necessary work ahead of the deadline, resulting in quality issues in the work performed, and a steep rise in the cost of energy efficient building retrofits.
We assist building owners by developing an energy efficient retrofit project, using C-PACE financing, to improve your market position in regards to sustainability and future requirements. We recommend planning now to improve the performance of your building while you can control cost, quality, and timing.
To learn more, contact us for an overview.