Energy and Sustainability Services
The pace of U.S. states and cities rolling out legislation on commercial building energy and sustainability standards has accelerated recently. A few high-profile examples:
· The San Francisco Task Force on Existing Commercial Buildings has recommended that Mayor Newsom introduce legislation requiring energy benchmarking in buildings larger than 25,000 square feet and tenant sub-metering in buildings greater than 100,000 square feet, starting in 2011.
· In Washington DC, owners of buildings 200,000 square feet and larger must start entering energy information into ENERGY STAR Portfolio Manager this year under the “Clean and Affordable Energy Act.”
· New York’s City Council passed rules in December requiring building owners to conduct energy audits and start benchmarking data.
· On January 12, California announced the creation of a new Green Building Standards Code (CALGREEN) with comprehensive energy and environmental mandates for all new buildings in the state.
And so on. Meanwhile, industry protests and legal challenges to some green mandates are taking shape. Where all this will end up is anyone’s guess.
For real estate investors and corporations with commercial property around the country, keeping track of all the requirements—let alone complying with shifting standards—is starting to look like a major headache. We will be keeping a close eye on green building legislation, so be sure to check in with us regularly for updates on what is happening and how it might impact your business.