New Report Shows More Benefits to Greening Apartments - Green Remodeling via Multifamily Executive Magazine

The multifamily sector could save almost $3.4 billion annually, nationwide, on energy costs with a full expansion of efficiency upgrades, according to a new report from the Washington, D.C.-based American Council for an Energy-Efficient Economy and Chicago-based CNT Energy . The report, released January 26, details how energy expenditures have increased by 10.6 percent from 2005 to 2009, but says many owners have been able to reduce their energy bills by 20 percent or more by implementing energy saving measures, including everything from installing energy efficient light bulbs and reducing hot water consumption, to replacing old refrigerator models and adding extra insulation to attics and basements to prevent energy loss.

Both long-time residences and newer buildings can improve on energy savings. But Eric Mackres, senior analyst and local policy lead for the ACEEE and co-author of the report, says owners of older multifamily buildings will find it especially useful. “We were mainly looking at programs and opportunities to improve efficiency in existing buildings to save money for residents and owners,” he says. “There is no one size fits all answer when it comes to efficiency, but just about every building has at least one improvement that can save a significant amount of money.”

Mackres says the key takeaway should be the need for more cooperation between multifamily owners and local utility companies, which often provide financial incentives and programs to help offset installation costs.

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