The way your building uses energy can help its bottom line—or hurt it through inefficient operations. Fortunately there's a way for multifamily buildings to reduce energy waste and receive funding for long-term energy savings.
The Multifamily Energy Performance Portfolio offered by the New York State Energy Research and Development Authority (NYSERDA) includes the following suite of programs for residential buildings with five or more units and four or more floors:
- The Multifamily Performance Program: If after an in-depth energy audit of the building systems your building can achieve an energy-use reduction of 15% or more, it becomes eligible for cash incentives throughout the project.
- Advanced Submetering Program: Owners of market-rate buildings with master-metered electricity that convert to energy-saving submeters can receive cash incentives, as well as incentives for energy-efficient appliance upgrades.
- Green Jobs – Green NY Financing: This program provides loans at about half the market interest rate to make energy upgrade projects more affordable.
- Benchmarking: This snapshot of your building's energy performance lets you know how your building compares with similar buildings and which actions you can take to save energy--with a cash incentive to boot.
For owners who take a comprehensive approach to energy savings, the average return over the life of the upgrades is $1.78 for every $1.00 invested. That's an ROI that's more than just A-OK.
As an approved NYSERDA Multifamily Performance Partner, RAND offers technical guidance and administrative help when you enroll your building in NYSERDA's Multifamily Performance Program. We can help you make energy smart decisions for your building and take advantage of available funding.
To learn more about the Multifamily Performance Program, contact RAND at 212-675-8844; info@nullrandpc.com. We'll walk you through the options and get your building started on the road to energy savings.
