Property professionals who don’t take advantage of energy efficiency incentives and rebates are leaving money on the table. The cost of an energy audit, retro-commissioning or a building efficiency upgrade can be offset significantly by rebate opportunities offered by utilities, state
governments, municipalities and other groups across the country that support greater energy efficiency.
While opportunities to save money and improve investment returns may seem too good to be true, robust incentives can make it more financially feasible for building owners and managers to reduce energy consumption. Improved efficiency reduces the need for utility companies to invest in additional energy generation capacity to meet demand (or to buy additional generation, typically at higher costs). Likewise, local, state and federal authorities want to encourage these investments for a wide range of reasons—from easing pressure on aging infrastructure to reducing air pollution— that tend to be beneficial to society as a whole. In California, for example, all ratepayers pay a “public good charge” as part of their monthly energy bill, and that fee then is used for rebates and incentives for energy efficiency retrofits and programs.
These investments allow owners and operators to not just lower costs, but also improve asset value through updated systems and equipment. When it comes to energy efficiency, everyone wins: property owners and managers, utilities and members of the community who benefit from more sustainable operations in their backyard.
Read the rest of Brenna’s article on the BOMA website here: http://digital.boma.org/2016/March_April/files/33.html