Sustainability New York
New York sustainability means many things to many people. To the New York real estate market it means increased revenues, reduced costs, increased customer satisfaction, and improved competitiveness. New York sustainability is no longer a concept exclusive to the realm of the environment, but is a crucial component to managing a successful residential, commercial or industrial real estate enterprise. Today's existing buildings will make up 85 percent of all real estate in 2030. Many lack a sustainable design: The electricity, heating, and hot water consumed in buildings accounts for 75% of New York City’s greenhouse gas footprint, and $15 billion per year in energy costs. Thus focusing on energy efficiency and making New York sustainable today will yield cost savings and increased revenues and productivity today and for decades to come, and contribute to a more sustainable New York. A sustainable New York is not only achievable and affordable, but will pay for itself with savings. Sustainability New York will make any business stronger, more competitive, and more profitable.
Whether you own or manage a residential, commercial or industrial real estate in New York, Associated Renewable’s team of engineering and financial experts will help identify and implement the right cost-effective strategies for your needs in order to make a more sustainable New York. And after leveraging private, state and federal financial incentives, your out of pocket expenses can be minimized for sustainability New York.
Commercial building owners realize substantial cost savings through implementing sustainability New York strategies. Implementing sustainability New York strategies into a building infrastructure can also be combined with engagement with tenants can lead to even healthier paybacks with minimal costs. A comprehensive New York sustainability strategy results in reduced operational costs as electric, gas and water bills are reduced. Maintenance costs are minimized as long-lasting high-efficiency equipment replaces aging building infrastructure as a sustainability New York strategy. Many commercial building owners have also found that sustainable New York buildings can charge a premium for their space.
Many building owners do not wish to invest in energy efficiency measures that require capital outlays, as the benefits (reduced energy costs) flow to the tenants without an appropriate cost recovery mechanism for the owner. This split of responsibility for capital versus operating expenses leaves building owners with little incentive to undertake energy retrofits. A solution to this dilemma has been forwarded by the New York City government: Base the building owner’s cost recovery on a prediction of savings as determined by an energy specialist agreed upon by both parties, but the owner’s capital expense pass-through is limited to 80% of the predicted savings over a year. This provides the tenant with a cushion to protect against under performance, and leads to sustainability New York.
Residential Multi-Family Buildings
Owners and managers of residential buildings can take advantage of many of the same incentives to which commercial owners have access. Buildings with a large number of units are designed with many of the same mechanical systems as commercial buildings. A key difference lies in the usage patterns of tenants. Engaging with tenants on energy efficient behavior can yield savings: some experts estimate that simple behavioral changes in the United States could result in a 25-30 percent energy savings, the equivalent of the energy produced by 240 medium-sized coal-fired power plants. This would prevent the emission of 500 million metric tons of carbon dioxide annually. Through a green lease the savings can be distributed between both the owner and tenants, part of sustainability New York.
Sustainability New York is a long term approach to environmental protection, cost savings, and business growth. Sustainability New York acknowledges the connections between the economy, the environment and social responsibility.