According to a 2013 report from the World Green Building Council (WorldGBC), investing in green updates for multifamily and commercial properties can provide numerous benefits including lower operating costs, increased property value, and greater workplace productivity.
World Green Building Council research shows that one the greatest misconceptions surrounding green building is that it is much more expensive to implement and operate. According to the WorldGBC report, cost savings associated with reduced energy and water use from green building practices far outweighs initial investment costs. Utility submetering has been highlighted as one cost-effective green building practice that reduces operating costs for property owners by making residents financially responsible for their own utility usage.
The World Building Council report also concluded that multifamily and commercial properties implementing green building techniques are able to more easily attract and retain tenants. Jane Henley, CEO of World GBC, states that “green [building] is now becoming the status quo.” In a recent Strata Research survey of 1,053 renters, 62 percent reported that “environmental friendliness” was an important factor in their apartment hunt.
The Database of State Incentives for Renewables & Efficiency (DSIRE) website is a useful resource for property owners that would like to implement green building techniques, but are hesitant to make the initial investment necessary to do so. Statewide conservation organizations such as the California Multifamily Energy Efficiency Rebate Program (MEERP) and the New York State Energy Research and Development Authority also offer rebate programs for properties looking to implement green building designs.
Interested in learning how energy management services or utility submetering can benefit your property? Contact a representative at WaterWatch Corporation today by calling toll-free at 1-800-256-9826.