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Energy Benchmarking and Disclosure in U.S. CitiesCliff MajersikExecutive Director, Institute for Market [email protected]
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When performance is measured, performance improves. When performance is measured and reported back, the rate of improvement accelerates.
A Virtuous Cycle
Rental Premiums for Green Commercial Buildings in the US
Jackson, 2009 Pivo & Fisher, 2010 Fuerst & McAllister, 2011
Eicholtz, 2010Wiley et al., 2010
Added Value of ENERGY STAR-Labeled Commercial Buildings in the U.S. Market
Rental price Sale price Occupancy rate
0%
5%
10%
15%
20%
25%
30%
Wiley et al 2010*
Fuerst & McAllister 2009/11
Jackson 2009
Pivo & Fischer 2010*
Eicholtz et al 2010*AveragePremium
The building sector is the dominant user of energy and generator of CO2 emissions in the U.S. This is more true in cities due to density.
US Chicago Dallas Minneapolis New York City Philadelphia Salt Lake City Washington, DC
38
70
51
65
75
62
75 74
Percentage of Total Carbon Emissions from Building Sector
Building Sector Greenhouse Gas Emissions
Rating and disclosure drives demand and competition
Link between Codes and Energy Performance Policy
Construction Operation Renovation Operation
Energy Codes
Energy Performance Policy
time
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
2002: The European Parliament adopts the
Energy Performance of Buildings Directive (EPBD),
requiring all EU Member States to establish mandatory energy
certification schemes for homes and buildings
1997: Denmark requires energy certification for homes and buildings
2004: Norway, part of the European
Economic Area, formally agrees to implement the
EPBD and building certification requirements
2007: Brazil adopts voluntary building rating regulations that become mandatory in 2012
2008: Turkey adopts a mandatory certification scheme
2010: Australia enacts mandatory energy rating for commercial structures.
2010: EPBD Recast The EPBD is recast to strengthen the energy performance requirements for all EU Member States
2008: China adopts a mandatory energy rating program for
government buildings.
1999: Australian Capital Territory requires energy certification for homes
International Policy Timeline
U.S. Benchmarking Policy Landscape
Covered Properties
New York City San Francisco
Buildings 50k SF+~16,000 buildings, 2.5 billion SF
Buildings 10k SF+~2,700 buildings, 205 million SF
New York City15,300
Washington, DC2,000
California13,600
Austin2,800
Washington State4,600
Seattle3,600
San Francisco2,700
NUMBER OF PROPERTIES COVERED ANNUALLY
Philadelphia1,400
Chicago3,500Boston
1,600
Source: IMT
Each year, existing policies will impact more than
51,000 properties
Minneapolis625
New York City2.8 billion SF
Washington, DC357 million SF
California347 million SF
Austin113 million SF
Washington State247 million SF
Seattle295 million SF
San Francisco205 million SF
BUILDING AREA (IN SQUARE FEET) COVERED ANNUALLY
Philadelphia244.5 million SF
Minneapolis110 million SF
Boston250 million SF
Source: IMT
Totaling approximately
5.8 billion SF of floor space in major real estate markets
Chicago900 million SF
Early Energy Intensity Findings in New York City
The poorest performing buildings use 4 to 8 times the energy of the highest performing buildings.
By improving the poor performerscitywide energy reductions of 18% to 31% could be achieved.
Boldest action is in cities- Federal outlook remains uncertain; state and local action to continue
Leading cities are looking beyond disclosure
- Integrated policy frameworks emerging with focus on poor performers
Support from business sector is critical
Takeaways
Thank you!
Cliff MajersikExecutive DirectorInstitute for Market TransformationWashington, [email protected]
