Green building has become the rule rather than the exception in the multifamily industry. Many states recognize this fact and have begun offering rebate programs to property owners that are looking to conserve energy through utility submetering and other energy efficient upgrades. Is your organization aware of the rebate programs available in your state?
The New York State Energy Research and Development Authority (NYSERDA) has created a statewide Energy Smart Multifamily Performance Program that provides financial support to property owners looking implement energy efficient upgrades in new construction and existing multifamily buildings. They have also created the Electric Reduction in Master Metered Buildings Program, which is specifically geared towards utility submetering. Owners of master metered properties with five or more units can visit the NYSERDA website to fill out an application for the program. If approved, this program can save multifamily owners up to 50% off the cost of a submetering system.
The California Multifamily Energy Efficiency Rebate Program (MEERP) is another statewide program that has been a successful in offering energy efficient rebates. The collaboration between the state’s four major utility companies allow property owners of multifamily properties to receive rebates on energy efficient upgrades ranging from lighting and insulation to window and HVAC improvements.
The Maine State Housing Authority’s takes a different approach to providing energy funding through their Multifamily Home Energy Loan Program. This program offers low interest loans for multifamily housing improvements interested in taking on energy efficient projects. The program requires borrowers to have an energy audit and then prepare a plan to address deficiencies.
For a full list of opportunities available in your state, visit the Database of State Incentives for Renewables & Efficiency (DSIRE) website, or type your property information into the DSIRE search tool on our sidebar.