In 2015, the Institute for Market Transformation (IMT) found that there is a correlation between a building’s Energy Efficiency, occupancy rate, and sale pricing. The more Energy Efficient a building is, the higher their occupancy and sales are. This indicates that consumers are beginning to consciously – or unconsciously – make efforts to occupy Energy Efficient properties.
NYC recently launched Local Law 33 (LL33) requiring building owners to display the corresponding letter grade for their annual Energy Score in a visible place. While this is a new way to encourage Energy Efficiency in NYC alone, the idea behind is to provide transparency to consumers. Similar to Letter Grades for Restaurants, consumers are slowly gaining more access to property data so that they can make conscious and informed decisions. A low score could make or break a potential buyer’s decision to rent a space in your building. By completing an annual Energy Benchmark, you can track the yearly usage, make changes, and maintain a positive Energy image for your building.