Attesting to this, a report released today by the Institute for Market Transformation (IMT) – “Building Energy Transparency” – represents the inaugural national review of building energy rating and disclosure policies in the United States. The publication provides specific information for evaluating a building’s relative energy efficiency and making this information available to companies that will either lease or purchase commercial properties.
By making building energy use and costs more transparent, these initiatives will encourage building energy improvements and stimulate market demand for energy efficiency. The report on building energy transparency can be reviewed at this website.
“Building Energy Transparency” reviews the building energy rating and disclosure laws in New York City; San Francisco; Seattle; Washington, D.C Austin, Texas; and in the states of California and Washington. The requirements are being phased in this year and are expected to impact real estate transactions concerning almost 4 billion square feet of building space.
In today’s press release, Andrew Burr, director of IMT’s Building Energy Rating Program, said: “As these policies continue to draw interest from states and cities across the country, we can enable policymakers to build on the lessons and best practices from early adopters.”
IMT is a nonprofit organization dedicated to promoting energy efficiency, green building, and environmental protection in the United States and abroad. Much of IMT’s work addresses market failures that inhibit investment in energy efficiency.
In November 2010, IMT convened a national roundtable of senior policymakers and building energy efficiency experts to discuss implementation of building rating and disclosure strategies. “Building Energy Transparency” was developed from this roundtable.
IMT worked with real estate services firm CB Richard Ellis on a compact user’s guide to the requirements, which is also released today. CBRE’s “Guide to State and Local Energy Performance Regulations” can be downloaded here.
David Pogue, CBRE national director of sustainability, indicated that with the growing proliferation of energy reporting and efficiency standards in various states and cities real estate owners and occupants find information such as this o be timely.