Property Assisted Clean Energy financing is making progress on the commercial side. But obstacles and uncertainties–including a potential change in approach by the incoming administration–cloud the future.
There traditionally has been tension between landlords and owners on one side and tenants on the other. This is true in both the commercial and residential sector. The basic question is the extent to which the landlord must make improvements that benefit the tenants. Improvements require capital investment which, of course, is a disincentive to …Continue Reading
The California Public Utilities Commission is accelerating the process of installing energy efficient appliances in rent-subsidized multi-unit apartment buildings, according to the website of WPCC. The story says that $400 million that is set aside annually to fund efficiency upgrades has gone unspent due to state rules. The CPUC has directed Southern California Edison, the …Continue Reading
The Institute for Market Transformation (IMT) says that energy efficiency efforts in multifamily buildings potentially can save almost $3.4 billion annually. The report is entitled “Catalyzing Efficiency: Unlocking Energy Information and Value in Apartment Buildings.” The press release says that almost 38 million people live in buildings containing five or more units in the United …Continue Reading
The goals of landlords and tenants often don’t perfectly align. However, the increasing benefits of upgrading energy efficiency in these spaces is leading them to confront, rather than hide from, the issues.
Things can be tricky when the organization occupying a facility doesn’t own it. Three groups are cooperating to help the sides lean how to work through the issues.
Green and Save offers a case study of a commercial portfolio’s LED retrofit in New York City that cut costs by 74 percent. Newmark Holdings’ project covered different common areas and existing lighting across the 10 million square feet of 24 properties under management. The LED fixtures, lamps and retrofits that were installed in the …Continue Reading
New York State has made $16 million available for energy efficient housing. The Press Republican reports that the New York State Energy Research and Development Authority is providing the money through a 10-year, $5.3 million program. The state, under Governor Cuomo’s Clean Energy Standard, requires half of the state’s power to come from renewable resources by …Continue Reading
A&B Properties and Carbon Lighthouse are running a two-month pilot to identify energy efficiency initiatives for A&B’s commercial assets in Hawaii. A&B – which is a wholly-owned subsidiary of Alexander & Brown – and Carbon Lighthouse launched the study at the Pearl Highlands Center and the Kaka`ako Commerce Center on Oahu and the Kahului Office Building …Continue Reading
Brookfield Property Partners and Urban American is spending $16 million for energy efficiency upgrades and retrofits for 3,000 apartment units in Harlem, N.Y. Crain’s New York Business says that the plan is to replace about 6,000 windows and seal cracks in five buildings. A cogeneration plant will provide about 15 percent of the heat and …Continue Reading