According to the U.S. EPA’s ENERGY STAR program, making even small financial investments in your building’s efficiency can produce great returns for your business.
First, energy efficiency reduces your utility bills which increases your bottom line. Simple low-cost/no-cost measures can see returns of 10-30% in savings. Some of the hard costs associated with the requirements of programs like this can be initially discouraging for building developers, but many ENERGY STAR Partners have seen paybacks in just months after implementing the energy conservation measures of this program. Optimized design and construction isn’t just better for your budget: it’s smarter.
Next, tenants have shown greater interest in efficient buildings, paying rent premiums for space in ENERGY STAR rated buildings. Study results from 6 different participants (including CoStar and CBRE) showed a rental rate premium from 3% up to 16%. Occupancy rates averaged over 2% better in certified office buildings as well. Developers nationwide are beginning to see the value in these types of buildings in terms of profitability and marketability. Newer generations of renters are more environmentally conscious and would prefer to live in buildings which take these factors into account during design and construction. An ENERGY STAR certification for your building can make your building more attractive and can help set the standard for building development in the nation.
Get started by conducting an energy audit from a qualified provider like VCA Green. We can show you how to drop your operating costs and make your building more desirable for tenants or future buyers. For more information, contact Moe Fakih below:
Moe Fakih, Principal
Wayne Alldredge, Associate Director