The Institute for Market Transformation (IMT) has released a new study, “Catalyzing Efficiency: Unlocking Energy Information and Value in Apartment Buildings.” The McArthur Foundation-funded study outlines a strategy for engaging building owners, managers, residents and financiers in an effort to tap the energy and water savings potential across 18.5 million households in apartment properties with five or more units.
While recognizing that there is a growing trend for utilities to make building level consumption data available to owners, the report claims that the marketplace has been ‘slow’ to pick up on the advantages of turning building performance data into investments in energy and water efficiency. While opportunities to finance energy improvements in the multifamily sector are growing it is not clear that residents are using utility costs as a basis for making decisions.
The report found that:
- Increasing the energy efficiency of America’s multifamily buildings could save building owners and managers, residents, governments, energy efficiency service providers, and financiers close to $3.4 billion in annual savings;
- Cost-effective energy upgrades in multifamily buildings have been estimated to improve efficiency by 15-30 percent;
For more information on the report, please use the below resources: