Blueprint for April
Being green is getting easier by the day
By Jessica Hoefer
3 min read
It’s Not Easy Being Green
Going green remains front and center at every level of society. For those in the affordable housing industry, going green is not only socially responsible but economically advantageous. Much of that benefit is a result of the symbiosis between utility management and energy-efficient retrofits.
Utility management tracks how various energy, waste and water usage metrics impact a property, which helps identify problems quickly and determines the appropriate level of retrofitting. Retrofits can then incorporate whatever green solutions are best for each community.
Throughout this issue, you will read repeatedly how utility management minimizes costs and green retrofits are an environmentally friendly and economically viable solution to optimize energy performance and extend the life of a building, especially historical buildings. But it is the how that we want to focus on.
Affordable Housing Leads the Way explains that the industry is “paving the way when it comes to green and healthy projects…it is pushing the rest of the market to accelerate their pace of change and make a commitment to energy efficiency and human health.” In this instance, it involves joint certifications for rehabs or new constructions of healthier, more environmentally friendly buildings.
While upfront costs may be prohibitive, there are several financing options available that allow everyone involved to realize the long-term benefits of going green.
PACE loans have become increasingly popular for green projects. “C-PACE financing is a state-enabled mechanism that allows commercial property owners to finance energy improvements for existing buildings or new construction.” (Legally Speaking) However, according to Green Retrofits Signal the Future in Cities’ Push Towards Decarbonization, PACE is merely one kind of financing. There are “other types of energy financing, including, Power Purchase Agreements, Energy Performance Contracts and the new Energy as a Service.”
And Accessing Federal and Utility Incentives for Green Projects explores how multifamily properties can leverage Weatherization Assistance Program dollars with other incentives, like local utility rebates, Investment Tax Credits for Solar and more.
As more jurisdictions consider the carbon and energy performance standards for buildings, understanding how new policies and programs apply to your portfolio and properties is important. A first step in getting a clearer picture is Stewards of Affordable Housing of the Future’s (SAHF’s) newly released carbon calculator, which provides multifamily portfolio owners with greenhouse gas emissions information for their entire portfolio. (Establishing a Baseline)
And, the results of all of this symbiosis are evidenced by the green retrofits modeled in case studies Energy Retrofits in New Mexico and Echo Valley’s “Community” Solar Program.
Being green is getting easier by the day.
Regards,
Jessica Hoefer
Editor-in-Chief
