President Obama’s Better Buildings Challenge is a program aimed at decreasing energy usage and costs for commercial buildings across the country. Along with many high profile companies, three major cities have recently made commitments to energy efficiency through this challenge. Will the energy initiatives taken by these cities affect your properties?
According to the U.S. Department of Energy, some of the companies taking part in the initial Better Buildings Challenge include Best Buy, Transwestern, Green Sports Alliance, and USAA Real Estate Company. The cities of Los Angeles, Seattle, and Atlanta will also be launching energy audit and efficiency programs as a part of the challenge. The participating cities will provide data on their energy savings, share their efficiency strategies, and serve as models for other cities to save energy and reduce costs.
The Better Buildings Challenge is a part of President Obama’s Better Buildings Initiative that was launched this February. The ultimate goal of the initiative is to increase energy efficiency in commercial buildings by 20 percent in the next ten years, while decreasing energy bills for these companies by about $40 billion a year. The initiative applies to commercial and municipal buildings, including offices, educational institutions, stores, and hospitals. The President is promoting participation through various tax incentives and financing offers.