As more properties are being required to disclose energy usage, and market demand for energy efficiency grows among both prospective tenants and buyers, proactively reducing energy use is becoming an increasingly smart investment.
While typical building expenses vary, offices in Philadelphia spend on average $1.33 psf.1 In the multifamily sector, electricity expenses average a dollar per square foot, with usage greater in high-rise buildings due to larger common spaces.2
Fortunately, building owners can reduce energy costs 20-30% through new energy efficiency technologies, innovative lease arrangements, and other control strategies.
The deadline for submitting 2018 Building Energy Benchmarking data to the City of Philadelphia was last month. However, it’s not too late to get a head start on improving your benchmarking score for 2019. PECO offers incentives for both existing buildings and new construction. Office spaces that achieve incremental advancements in energy efficiency can receive recognition in the form of higher financial incentives as well as certifications such as Leadership in Energy Efficiency Design (LEED).