Do Green Buildings Make Dollars and Sense?
Last week, CB Richard Ellis and the University of San Diego presented "Do Green Buildings Make Dollars and Sense?" at the annual USGBC GreenBuild conference in Phoenix, AZ. The study compared 154 Energy Star labeled buildings in 10 selected markets to general office properties in the market. All of the buildings in the survey set were managed by CBRE.
The study has some interesting findings which relates directly to a number of projects NBI is currently working on.
- Energy Star scores matter. Each additional point in the Energy Star score saved approximately 0.83% in electrical costs per SF per year. In other words, an improvement from 50 to 80 points would save an approximate average of almost 25% in electricity costs. This result varied slightly between different market locations.
- Separate metering has more impact on energy savings than almost any other factor. Only 31 of 154 buildings had separate metering as opposed to master electric meters, but on these, electric costs ran 21% less than comparable buildings.
- Green lease provisions are increasingly important in the commercial real estate market.
For more about the study, visit: www.cbre.com/EN/AboutUs/MediaCentre/2009/Pages/110209.aspx