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Energy Benchmarking and
Disclosure in U.S. Cities
Cliff Majersik
Executive Director, Institute for Market Transformation
cliff@imt.org
@IMTCliff
2
Building Sector Greenhouse Gas Emissions

Percentage of Total Carbon Emissions
from Building Sector
75

75

74

70

65

62

51

38

US

Chicago

Dallas

Minneapolis New York City Philadelphia

Salt Lake City Washington, DC

The building sector is the dominant user of energy and generator of CO2 emissions in
the U.S. This is more true in cities due to density.
Link between Codes and Energy Performance Policy

Energy Codes

Construction

Operation

Renovation

time

Energy Performance Policy

Operation
Rating and disclosure drives demand and competition
6
Rental Premiums for Green Commercial
Buildings in the US

Jackson, 2009

Pivo & Fisher, 2010

Wiley et
al., 2010

Fuerst &
McAllister, 2011

Eicholtz, 2010
Added Value of ENERGY STAR-Labeled
Commercial Buildings in the U.S. Market
Wiley et al 2010*
30%

Fuerst & McAllister 2009/11
Jackson 2009

25%

Pivo & Fischer 2010*

AVERAGE
PREMIUM

Eicholtz et al 2010*

20%

15%

10%

5%

0%

RENTAL PRICE

SALE PRICE

OCCUPANCY RATE
A Virtuous Cycle
When performance is
measured, performance improves.
When performance is measured and
reported back, the rate of
improvement accelerates.

9
U.S. Benchmarking Policy Landscape
Covered Properties
New York City

Buildings 50k SF+
~16,000 buildings, 2.5 billion SF

San Francisco

Buildings 10k SF+
~2,700 buildings, 205 million SF
NUMBER OF PROPERTIES COVERED ANNUALLY

Each
year, existing
policies will
impact more
than

51,000
properties

Boston
1,600

Chicago
3,500
New York City
15,300

Philadelphia
1,400
Seattle
3,600

Washington State
4,600

Austin
2,800

San Francisco
2,700

Minneapolis
625

Washington, DC
2,000

California
13,600

Source: IMT
BUILDING AREA (IN SQUARE FEET) COVERED ANNUALLY

Totaling
approximately

5.8 billion SF
of floor space in
major real estate
markets

Chicago
900 million SF

Boston
250 million SF
Philadelphia
244.5 million SF
Seattle
295 million SF
Washington State
247 million SF
Austin
113 million SF
California
347 million SF
Minneapolis
110 million SF
Washington, DC
357 million SF

New York City
2.8 billion SF

San Francisco
205 million SF

Source: IMT
Early Energy Intensity Findings in New York City

The poorest performing
buildings use 4 to 8
times the energy of the
highest performing
buildings.

By improving the
poor performers
citywide energy
reductions of 18%
to 31% could be
achieved.
Takeaways
 Boldest action is in cities
- Federal outlook remains uncertain; state and local action to continue

 Leading cities are looking beyond disclosure
- Integrated policy frameworks emerging with focus on poor performers
NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing
Partners of Green Lease Library
http://www.greenleaselibrary.com/
Green Lease Leaders
Recognition Program
Green Lease Leaders is a recognition program
developed by
www.GreenLeaseLibrary.com, with support
from the Institute for Market Transformation
(IMT) and the Department of Energy’s Better
Buildings Alliance.

The Green Lease Leader designation
recognizes companies or broker teams that
have successfully implemented green lease
language into their new or existing leases.
The website and application process will be
launching this January 2014.
NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing
The Data Access and Transparency Alliance (DATA) is a
collaborative effort led by the commercial real estate
industry and green building organizations to provide
building operators with energy consumption data to
advance energy-efficiency and energy cost savings in
buildings.
More information can be found:
http://www.energydataalliance.org/
NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing
Thank you!

Cliff Majersik
Executive Director, Institute for Market Transformation
Washington, DC
cliff@imt.org
@IMTCliff
International Policy Timeline

1997: Denmark requires energy
certification for homes and buildings

2004:
Norway,
part of
the European Economic
Area, formally agrees to
implement the EPBD and
building certification
requirements

2007: Brazil adopts voluntary
building rating regulations that
become mandatory in 2012

2010: EPBD Recast
The EPBD is recast to
strengthen the
energy performance
requirements for all
EU Member States

1999: Australian Capital Territory
requires energy certification for homes
1996

1997

1998

1999

2000

2001

2002

2002: The European
Parliament adopts the
Energy Performance of
Buildings Directive (EPBD),
requiring all EU Member
States to establish
mandatory energy
certification schemes for
homes and buildings

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2008: China adopts a mandatory
energy rating program for
government buildings.
2008: Turkey
adopts a
mandatory
certification
scheme

2010: Australia
enacts mandatory
energy rating for
commercial
structures.

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NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing

  • 1. Energy Benchmarking and Disclosure in U.S. Cities Cliff Majersik Executive Director, Institute for Market Transformation cliff@imt.org @IMTCliff
  • 2. 2
  • 3. Building Sector Greenhouse Gas Emissions Percentage of Total Carbon Emissions from Building Sector 75 75 74 70 65 62 51 38 US Chicago Dallas Minneapolis New York City Philadelphia Salt Lake City Washington, DC The building sector is the dominant user of energy and generator of CO2 emissions in the U.S. This is more true in cities due to density.
  • 4. Link between Codes and Energy Performance Policy Energy Codes Construction Operation Renovation time Energy Performance Policy Operation
  • 5. Rating and disclosure drives demand and competition
  • 6. 6
  • 7. Rental Premiums for Green Commercial Buildings in the US Jackson, 2009 Pivo & Fisher, 2010 Wiley et al., 2010 Fuerst & McAllister, 2011 Eicholtz, 2010
  • 8. Added Value of ENERGY STAR-Labeled Commercial Buildings in the U.S. Market Wiley et al 2010* 30% Fuerst & McAllister 2009/11 Jackson 2009 25% Pivo & Fischer 2010* AVERAGE PREMIUM Eicholtz et al 2010* 20% 15% 10% 5% 0% RENTAL PRICE SALE PRICE OCCUPANCY RATE
  • 9. A Virtuous Cycle When performance is measured, performance improves. When performance is measured and reported back, the rate of improvement accelerates. 9
  • 11. Covered Properties New York City Buildings 50k SF+ ~16,000 buildings, 2.5 billion SF San Francisco Buildings 10k SF+ ~2,700 buildings, 205 million SF
  • 12. NUMBER OF PROPERTIES COVERED ANNUALLY Each year, existing policies will impact more than 51,000 properties Boston 1,600 Chicago 3,500 New York City 15,300 Philadelphia 1,400 Seattle 3,600 Washington State 4,600 Austin 2,800 San Francisco 2,700 Minneapolis 625 Washington, DC 2,000 California 13,600 Source: IMT
  • 13. BUILDING AREA (IN SQUARE FEET) COVERED ANNUALLY Totaling approximately 5.8 billion SF of floor space in major real estate markets Chicago 900 million SF Boston 250 million SF Philadelphia 244.5 million SF Seattle 295 million SF Washington State 247 million SF Austin 113 million SF California 347 million SF Minneapolis 110 million SF Washington, DC 357 million SF New York City 2.8 billion SF San Francisco 205 million SF Source: IMT
  • 14. Early Energy Intensity Findings in New York City The poorest performing buildings use 4 to 8 times the energy of the highest performing buildings. By improving the poor performers citywide energy reductions of 18% to 31% could be achieved.
  • 15. Takeaways  Boldest action is in cities - Federal outlook remains uncertain; state and local action to continue  Leading cities are looking beyond disclosure - Integrated policy frameworks emerging with focus on poor performers
  • 17. Partners of Green Lease Library http://www.greenleaselibrary.com/
  • 18. Green Lease Leaders Recognition Program Green Lease Leaders is a recognition program developed by www.GreenLeaseLibrary.com, with support from the Institute for Market Transformation (IMT) and the Department of Energy’s Better Buildings Alliance. The Green Lease Leader designation recognizes companies or broker teams that have successfully implemented green lease language into their new or existing leases. The website and application process will be launching this January 2014.
  • 20. The Data Access and Transparency Alliance (DATA) is a collaborative effort led by the commercial real estate industry and green building organizations to provide building operators with energy consumption data to advance energy-efficiency and energy cost savings in buildings. More information can be found: http://www.energydataalliance.org/
  • 22. Thank you! Cliff Majersik Executive Director, Institute for Market Transformation Washington, DC cliff@imt.org @IMTCliff
  • 23. International Policy Timeline 1997: Denmark requires energy certification for homes and buildings 2004: Norway, part of the European Economic Area, formally agrees to implement the EPBD and building certification requirements 2007: Brazil adopts voluntary building rating regulations that become mandatory in 2012 2010: EPBD Recast The EPBD is recast to strengthen the energy performance requirements for all EU Member States 1999: Australian Capital Territory requires energy certification for homes 1996 1997 1998 1999 2000 2001 2002 2002: The European Parliament adopts the Energy Performance of Buildings Directive (EPBD), requiring all EU Member States to establish mandatory energy certification schemes for homes and buildings 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2008: China adopts a mandatory energy rating program for government buildings. 2008: Turkey adopts a mandatory certification scheme 2010: Australia enacts mandatory energy rating for commercial structures.

Editor's Notes

  1. In large cities with significant public transportation, buildings typically account for 70% or more of CO2 emissions and energy usage.There are two types of policies that regulate energy consumption in buildings: building codes, and energy performance policy.
  2. This view is a little simplified, but in general, building codes touch the building at initial construction and then again during renovation. Energy Performance Policy complements traditional building codes by focusing on the operational phase of the building lifecycle.
  3. Early Studies have been helpful, more research needed
  4. NewYork City: Properties over 50,000 SF account for ~2% of building stock by number, but 50% of floor area.