Yardi Energy Solutions is positioned to support U.S. Environmental Protection Agency initiatives in energy data aggregation, access and reporting. The agency’s new Whole-Building Energy Data Campaign, for example, is designed to help building owners appeal to utilities for access to accurate whole building data for multitenant buildings. Whole building data enables visibility into energy consumption, helping owners and managers create a roadmap for instituting ongoing operational improvements. EPA has also added data from 2022 to the ENERGY STAR Portfolio Manager Data Explorer, an interactive tool that displays performance trends of buildings benchmarked in ENERGY STAR® Portfolio Manager®. And what is Yardi Energy Solutions’ contribution? The suite of energy management solutions simplifies the collection and transfer of data to ENERGY STAR Portfolio Manager, the most widely used system in North America for compliance reporting. It also tracks building performance standards derived from ENERGY STAR data as they are developed and help clients understand and meet the associated new reporting challenges. Automation of these operations relieves building owners and managers of a difficult, time-consuming process while helping them remain compliant with any number of local and state reporting regulations. Zero building emissions standard On another front, EPA collaborated with the U.S. Department of Energy to finalize the national definition of a zero emissions building. Such a building is highly energy efficient, does not emit greenhouse gases directly from energy use and is powered solely by clean energy. According to EPA, the definition intends “to offer a standardized, consistent and measurable set of criteria for others to use in their programs and policies,” and may eventually expand beyond operational emissions to encompass embodied carbon and refrigerant management. The definition aligns closely with the criteria for EPA’s ENERGY STAR NextGen™, a certification scheduled for launch in late 2024 that will encompass superior energy performance, the use of renewable energy and means for meeting direct emissions targets. Here again, Yardi Energy Solutions can help “simplify the aggregation of whole building data collection and reporting for sustainability purposes. The first step is gathering data from multiple sources and identifying efficient and inefficient buildings,” says Joe Consolo, industry principal for Yardi Energy. Learn more about how Yardi energy management software and certified experts simplify collecting, assimilating and reporting required energy consumption...
Take Action on Energy...
Special Events in October
Coming in October: ENERGY STAR® Day (Oct. 9) and Energy Awareness Month, which offer businesses and individual consumers an array of money-saving tools and tactics. The U.S. Environmental Protection Agency, which administers ENERGY STAR, announced these designations to showcase how “using energy more wisely reduces your impact on the climate, providing a healthier and cleaner environment for all.” With ENERGY STAR, the EPA notes, “you can save today with incentives on energy-efficient products, save tomorrow with lower energy bills, and save for good for your family and the environment.” Bountiful incentives How can you use the resources highlighted during ENERGY STAR Day and Energy Awareness Month to make a meaningful difference on and off the job? Several options are available, including: Looking for the ENERGY STAR label when purchasing household products. It signifies adherence to strict energy-efficiency specification for products ranging from refrigerators, dishwashers and television sets to laptops and ceiling fans. Researching utility providers’ rebates and discounts on ENERGY STAR-certified products. Seeing if you qualify for Inflation Reduction Act income-based assistance that combines ENERGY STAR-certified products with utility rebates for home improvements. Amplifying ENERGY STAR Day themes and activities through social media and employee outreach platforms including Facebook, X, Instagram and LinkedIn. Becoming an ENERGY STAR Day participating partner with EPA, which will feature participating partners on its landing page, track all tagged social and share messages with its followers. Adopting Yardi Energy Solutions, which automates data entry into ENERGY STAR, ensures on-time reporting that keeps properties compliant with relevant regulations, reduces operational costs and more. Supporting educational and community service projects. As the recipient of the 2024 ENERGY STAR Partner of the Year award from the EPA and the U.S. Department of Energy for the sixth consecutive year since 2019, Yardi is...
Energy Efficient Fall...
Maintenance Tips
Regular maintenance in the fall can save property owners significant money and stress down the line. Here are five things to do to prevent minor problems from becoming major this season and beyond. HVAC Tune-up Preparing the HVAC system for the colder months is essential to keeping the property comfortable and energy efficient. Change air filters regularly to improve air quality and system efficiency. Clean out air ducts to ensure proper airflow. Have maintenance inspections for thermostats and upgrade to a smart programmable thermostat for better energy control during the winter. With the changing season, send email reminders to residents to keep up with the air filter changes with a quick maintenance request in their resident portal. These steps prevent potential breakdowns and improve energy efficiency, lowering utility costs and making the property more appealing to energy-conscious consumers. Roof & Gutters The roof is the first line of defense against winter weather, making fall the perfect time for any necessary maintenance. Inspect for loose or missing shingles to prevent leaks. Check chimneys, vents, and skylights to ensure the flashing is sealed correctly and free of cracks. Gutters are crucial in safeguarding the property’s foundation and roof. Clogged gutters can lead to water overflow, damaging the siding and foundation. It’s essential to clean out leaves, sticks and debris that may accumulate during the fall. Check downspouts to ensure water is being directed away from the foundation. Inspect for any gutter damage such as cracks, sagging or leaks and have maintenance repair them promptly. Regular gutter maintenance during the fall can prevent costly water damage, foundation erosion and ice dams in the winter. Weatherproofing Weatherproofing a property is not just a comfort issue. It’s also about saving on energy costs. Improve energy efficiency when a resident...
Home Energy Rebates
Multifamily rebate incentives
If you’re wondering how you can get started with energy rebates, you’ve come to the right place. These incentives provide upfront savings while saving you thousands on utility costs for years to come. For example, switching from baseboard heating to a heat pump saves an average of $1,300 per year. These rebates are not just about saving money — they also create more sustainable communities while improving living conditions for low-income and disadvantaged communities. Budget season is an opportune moment to review outstanding repairs and strategize on how communities can leverage direct savings effectively. Keep reading so you’re ready to act when the time comes. The Inflation Reduction Act in a nutshell In 2022 President Joe Biden signed the Inflation Reduction Act into law, dedicating nearly $400 billion to fund clean energy and address climate issues. From this, $8.8 billion will go to Home Energy rebates, including the Home Efficiency Rebates and Home Electrification and Appliance Rebates. States are encouraged to dedicate up to 10% of rebate funding, with a $400K cap, to support upgrades in low-income, multifamily buildings. The Home Efficiency Rebates Program (Section 50121) Section 50121 awards rebates for energy efficiency improvements in residential buildings. This program is about incentivizing property managers and homeowners to make energy-saving improvements, rather than requiring full renovations and complete overhauls. By targeting improvements, such as HVAC systems, the program aims to reduce our energy consumption and utility bills. Here’s what you need to know: Eligibility: Rebates are available for energy-saving measures, such as insulation, air sealing and high-efficiency HVAC systems. Benefits for multifamily property owners: Owners can receive rebates for upgrades that reduce energy consumption — leading to lower utility bills and improved tenant satisfaction. Funding allocation: States are required to allocate a portion of the rebate funds to low-income multifamily households, ensuring broader access to energy efficiency improvements. Home Electrification and Appliance Rebates (Section 50122) Section 50122 offers rebates for qualified electrification projects for low- or moderate-income households. Electrification is crucial for transitioning homes away from carbon-powered energy. By offering rebates for qualified projects, this program encourages property managers to adopt more efficient technologies that reduce carbon footprints and improve indoor air quality. Here’s what you need to know: Eligibility: Includes rebates for electric stoves, heat pumps, water heaters and other energy-efficient appliances. Benefits for multifamily property owners: Provides direct incentives, including point-of- sales rebates of up to 100% for properties serving residents with an area median income (AMI) of 80% or lower. A portion of funds is specifically reserved for underserved communities. By upgrading to modern energy-efficient appliances, property owners can reduce utility costs and increase energy efficiency. Funding allocation: Encourages the adoption of electric appliances, contributing to the overall reduction of carbon emissions from residential buildings. Community benefit: Contributes to combatting climate change while delivering long-term savings. Electric appliances offer smart features that enhance convenience and allow users to optimize energy consumption. What does it all mean for property managers and the community? These forward-thinking incentives save costs for property managers while reducing our reliance on fossil fuels. Not to mention, updated and efficient appliances mean happier tenants. It’s a win for you, the environment and your residents. Now, let’s assess some of the key takeaways: Financial incentives: Rebates offset the cost of energy efficiency and electrification upgrades. Pass-through benefits: Property owners who receive rebates for energy efficiency and electrification improvements must pass the savings on to renters, meaning they can benefit without facing rent increases. Targeted assistance for low-income households: A significant portion of the rebate funds are allocated specifically for low-income households. This ensures that the most vulnerable have access to energy-efficient and electrified homes. Tenant notification and consent: Property owners may be required to notify tenants about planned improvements and obtain their consent, particularly when the upgrades involve entering rental units. This ensures transparency and respect for renters’ rights and privacy. Affordability: Programs often include...
Significant but Understated
Embodied Carbon’s Impact
Most people realize that carbon emissions come from heating, cooling and lighting buildings, houses, roads, bridges and other elements of the built environment. But there’s another significant source of carbon whose environmental implications might be less visible but no less urgent: embodied carbon, which comes from the extraction, manufacturing, transportation, installation and disposal of materials such as steel, concrete, insulation and drywall. Buildings account for about 39% of global energy-related carbon emissions, with about 28% coming from operational emissions and 11% from materials and construction. For new buildings, embodied carbon emissions typically equal about 20 years of operating emissions. With the world’s building stock expected to double by 2060 – the equivalent of adding an entire New York City to the planet every month – the World Green Building Council calls managing embodied carbon a “significant yet often understated role on the path to net zero,” with “the built environment sector [having] a vital role to play in responding to the climate emergency, and addressing upfront carbon is a critical and urgent focus.” “Reducing embodied carbon from construction materials is essential to effectively addressing climate change,” adds the U.S. Environmental Protection Agency. Evaluating the level of embodied carbon involves completing a whole building life cycle assessment. This process examines the quantities of materials and products used and where they came from, from sourcing through construction and use to end of life disposal. With this assessment in hand, developers can make carbon-smart choices during design, procurement and construction. The movement to control embodied carbon is growing. For example, the EPA and other federal agencies have formed a Buy Clean Task Force that encompasses 90% of federally financed and purchased construction materials. State and local governments along with private sector institutions have adopted similar initiatives. The Inflation Reduction Act of 2022 also provides grants, tax incentives and loans to procure low-carbon materials for construction and renovation projects. “Finding creative ways to reuse existing buildings is an increasingly important strategy for reducing embodied emissions. The urgent need to reduce greenhouse gas emissions in the short term means that the calculus for saving rather than demolishing an existing building has changed and is now weighed much more heavily against demolition,” according to AIA California, an 11,000-member advocacy group for architects. Benefits of attention to embodied carbon include presenting more marketable buildings for buyers, lessees and investors to whom a building’s climate impact is important. Steps that can reduce embodied carbon include: Focusing on high volume materials, since between 50% and 75% of embodied emissions typically come from the concrete and steel in the foundation and structure. Renovating and upgrading buildings where possible, especially the foundations and structure where most of the embodied carbon lies. Seeking out recycled content materials; the embodied carbon footprint of new steel and aluminum can be five to six times that of high recycled content. Salvaged materials such as brick and wood typically have a much lower embodied carbon footprint than newly manufactured materials. Global business consultant firm McKinsey & Company says, “Open data and collaboration across silos are going to be key, and the technology the industry uses to measure and reduce the environmental footprints of buildings is starting to reflect that. With new models of collaborative solution development powered by connected data, it may become possible to cut GHG emissions dramatically in less than a generation.” Yardi is a real estate technology leader and ENERGY STAR® Partner of the Year Sustained Excellence winner awarded by the EPA and the U.S. Department of Energy. See our comprehensive solutions for managing costs, consumption and reporting across a...
Energy Forecast
EIA Looks Ahead
Here’s the latest on our periodic reports on research by the U.S. Energy Information Administration (EIA), a statistical and analytical arm of the U.S. Department of Energy that collects, analyzes and disseminates energy information. Sun is up in forecast EIA’s short-term energy outlook in January projected that solar electric generation will account for 7% of total U.S. electricity generation in 2025, up from 4% in 2023. Almost 80 gigawatts of solar power will come online over the next two years, increasing U.S. solar generating capacity by 84% and making solar the leading source of growth in U.S. electricity generation through 2025. “We are experiencing a significant shift in U.S. electric generation, as solar generation grows rapidly, taking market share from coal and tempering the growth in natural gas usage,” EIA Administrator Joe DeCarolis said. Rising oil production, falling gas prices, declining coal output The January outlook also forecasts that: U.S. crude oil production will establish new records of 13.2 million barrels per day in 2024 and more than 13.4 million barrels per day in 2025. U.S. natural gas production will also establish new records both years. Gasoline prices will fall from an average $3.52 per gallon in 2023 to about $3.40 per gallon in 2024 and about $3.20 per gallon in 2025. Coal production will drop by 26% over the next two years, reaching 430 million short tons in 2025, its lowest level since the early 1960s. Renewables seen growing Electricity generation from renewable sources will likely grow in every region of the U.S. in 2024, with an estimated 36-gigawatt increase in solar generating capacity. U.S. solar generation is expected to rise by 43% and wind generation by 6% this year. “The mix of energy sources used for generating electricity in the United States...
Explore Renewable Energy...
Cleaner Greener Future
Renewable energy sources are crucial to the fight against climate change. On a long road trip across the country, many will find wind turbines, solar panels, and dams, all renewable energy technologies working to better future generations. As Earth Day approaches, let’s explore the world of renewable energy, discover the various sources available, and learn how to support the transition to renewable energy to contribute to a cleaner, greener future for our planet. Since the Industrial Revolution, most country’s worldwide energy mix has been dominated by fossil fuels, which has significant implications for the global climate and human health. However, renewable technologies, including solar, wind, hydropower, geothermal, and biomass, have rapidly grown. Approximately one-seventh of the world’s primary energy is now sourced from renewable technologies. Renewables play a critical role in clean energy transitions. Let’s learn how these sources work, their benefits, and their potential for widespread adoption. Solar: Solar energy is the most familiar renewable technology and has the most potential for cost savings. Solar energy is electrical or thermal energy harvested from the sunlight. It can reduce energy bills, increase home resale value, be low-maintenance and offer long-term savings. Net metering is a process that’s beneficial to the community because it allows consumers to sell excess electricity their solar panels produce back to the utility company, further reducing bills and reducing the community’s reliance on fossil fuels. The sun is a powerful force and one of Earth’s most reliable energy sources. As a result, solar energy is experiencing a remarkable surge in growth and will remain an influential player in energy for the foreseeable future. Wind. Humankind has always been aware of how valuable wind power can be in daily life, from sailboats to windmills. Wind energy is often considered a more...
ARPA-E Projects
Energy Tech Innovation Updates
Here’s the latest of our periodic updates on energy conservation technologies being developed under the sponsorship of Advanced Research Projects Agency-Energy (ARPA-E), the R&D arm of the U.S. Department of Energy (DOE). Grid goes underground In January, the DOE announced funding for 12 projects designed to develop cost-effective, high-speed and safe undergrounding technologies. The projects will seek to improve an electric power distribution system that includes more than 5.5 million line-miles and more than 180 million power poles. They are susceptible to damage by weather and its effects and account for a majority of power outages in the country. “DOE is supporting teams across the country as they develop innovative approaches to burying power infrastructure underground —increasing our resilience and bringing our aging grid into the 21st Century,” said Jennfer M. Granholm, Secretary of Energy. Universities, businesses and national labs receiving contracts under this initiative include Arizona State University, which will develop a water-jet underground construction tool that will eliminate the need for a hard drill bit; GE Vernova Advanced Research of Niskayuna, N.Y., which will develop a robotic worm tunneling construction tool capable of digging and installing underground conduits and cables in a single step; Pacific Northwest National Laboratory of Richland, Wash., which will employ artificial intelligence and augmented reality to identify existing utilities and other subsurface obstacles to installing underground power distribution lines; and Honolulu-based Oceanit, which will develop a look-ahead subsurface sensor system. Metals from macroalgae Funding announced in November will explore the feasibility of extracting rare earth elements (REEs), used in high performance electric motors and generators, and platinum group metals (PGMs), essential elements of decarbonization technologies, from marine macroalgae. The initiative supports a goal of securing a domestic supply chain for critical minerals and achieving U.S. net-zero goals. Teams...
Discover ENERGY STAR Solutions
Q&A with ENERGY STAR Expert Randy Moss
As environmental, social and governance (ESG) regulations evolve, so do the challenges building owners and managers face with data aggregation and reporting. Fortunately, Yardi offers Energy Solutions that provide ongoing access to reliable data, automated workflows and streamlined reporting tools — all of which help alleviate those challenges. It all starts with our Invoice Processing and ESG Reporting solution, which equips you to streamline disclosures, benchmark properties with ENERGY STAR® and GRESB, ensure data traceability and report on performance improvements. In the Q&A below, we delve further into the ENERGY STAR piece — an integral component — courtesy of Randy Moss, manager of sustainability products at Yardi. You’ll see how as an ENERGY STAR Partner of the Year for the last six years, Yardi has direct, automated access to import and export data in and out of ENERGY STAR Portfolio Manager. That means you have a holistic view of your ESG data at all times, helping you meet benchmarking and reporting needs, make informed decisions and reduce the risk of errors. To date, nearly 9,000 properties have benchmarked in ENERGY STAR Portfolio Manager with Yardi, and we’re excited to see more growth in the future. Read on to learn all-things ENERGY STAR from Randy, whose impactful work in energy management and sustainability extends over 30 years. In his role at Yardi today, Randy helps clients and internal teams identify how our products can most effectively address specific sustainability needs. What motivated you to get involved in ENERGY STAR as a Manager at Yardi? Moss: Our clients were voicing frustration with the process of loading and maintaining data in Portfolio Manager. Since managing data is one of Yardi’s strengths, it made sense to assist clients in this area. In addition to being able to automate much of the data transfer to Portfolio Manager, Yardi’s team excels at confirming data is high quality and up to date. What is ENERGY STAR Portfolio Manager used for? Moss: Portfolio Manager is now the most used system for Compliance and Green Finance reporting in North America. Literally hundreds of jurisdictions and programs use Portfolio Manager as their system of record for compliance reporting. Loading data into Portfolio Manager permits properties to share the same data with multiple programs. One property we manage today is sending Portfolio Manager data to five different programs. All receive reports based on the same data, eliminating the chance of discrepancies between data being sent to different programs. The coming wave of Building Performance Standards (BPS) are usually referencing data in Portfolio Manager. This makes the accuracy of data in Portfolio Manager critically important. What does it mean that Yardi is an ENERGY STAR Partner? Moss: Yardi has been Partner of the Year for six years in in row and has received the Sustained Excellence Award, which is the highest level of EPA recognition, for three years now. This recognition is reserved for best in class service providers and Yardi is honored to be recognized as a Partner of the Year with Sustained Excellence. This motivates us to continuously seek ways to improve our services so we can provide our clients with the best service available for their ENERGY STAR data. How does Yardi help clients comply with local and state regulations? Moss: New regulations are emerging almost weekly. Every jurisdiction — and there’s about 100 of them we report to — has different reporting requirements and timelines. For building owners and managers, the process of collecting data and reporting annually is painful. With Yardi Energy Solutions, we have a team of analysts who are highly skilled at working with environmental data and utility vendors. We handle capturing the data and putting it into ENERGY STAR, ensuring accurate and on-time reporting to keep your properties in full compliance with the relevant regulations. The Yardi team also tracks emerging regulations and trends in the industry. Building Performance Standards, built on ENERGY...
A STAR is Born
Connect on ENERGY STAR Day, Oct. 11
October is Energy Awareness Month, which gives businesses and consumers lots of opportunities to learn about, adopt and promote energy-efficiency practices that reduce consumption and save money. First comes Energy Efficiency Day on Oct. 4. Even more opportunities come just a week later – on ENERGY STAR® Day, Oct. 11. ENERGY STAR Day seeks to use Facebook, Instagram, LinkedIn and other platforms to connect audiences, particularly underserved communities, to all the ways they can save with ENERGY STAR. The website for the program, which is administered by the U.S. Environmental Protection Agency (EPA), encourages partners, including Yardi, to “co-amplify the important message of energy efficiency and a clean energy future for all” with their own ENERGY STAR-tagged messages. Other ways to participate in ENERGY STAR Day include community service and education projects. By engaging all levels of employees in ENERGY STAR Day, employers can “provide valuable energy and money-saving opportunities … while enhancing your commitment to energy-efficiency, sustainability, and social responsibility,” EPA says. ENERGY STAR Day’s focus on equity stems from a study by the American Council for an Energy-Efficient Economy. It revealed that low-income households pay up to three times more on home energy costs than more affluent households, representing nearly 20% of their income. “Addressing this access disparity is a priority for EPA, and one we know we can address by working together with our partners,” the EPA says. See how you and your organization can participate in ENERGY STAR Day and enable ENERGY STAR to amplify your energy-efficiency success...
Energy Efficiency Day, Oct. 4
Share Your Ideas
On the 8th annual Energy Efficiency Day, Oct. 4, Yardi Energy will join thousands of organizations in the U.S. and Canada in sharing ideas for reducing energy waste and expanding energy efficiency. Energy Efficiency Day provides a forum for U.S. and Canadian corporations, local governments, universities, utilities and other organizations to document such initiatives as upgrading lighting, building insulation and heat pumps and establishing partnerships with local utility companies to reduce stress on the grid during peak demand. The day helps those occupying and investing in residential, commercial, affordable and other property types “share tips, tools and stories that promote the multiple benefits of energy efficiency, [which is] the cheapest, quickest way to meet our energy needs, cut consumer bills and reduce pollution,” says the Energy Efficiency Day organization, a coalition of U.S. energy efficiency advocacy groups. Energy Efficiency Day holds special resonance for Yardi because it involves “a core component of our mission as a real estate technology provider. It’s a great opportunity to focus attention on the critical issue of energy performance, spur action and inspire long-term thinking about what’s needed to create a positive energy future,” adds Joe Consolo, Yardi industry principal for energy. In March, Yardi received the 2023 ENERGY STAR® Partner of the Year Sustained Excellence Award after being named Partner of the Year for five consecutive years. The Yardi ESG software suite enables green energy procurement, whole-building energy water and waste data aggregation, and reduced energy usage in residential and commercial properties. The company has also maintained ENERGY STAR certification for its corporate headquarters in Goleta, Calif. Learn more about ways to maximize the impact of Energy Efficiency Day, including a toolkit for promoting your efforts on social media channels, joining the conversation and finding news about energy efficiency...
Energy Buzz
What’s New with ARPA-E
Here’s the latest of our periodic reports on projects undertaken by businesses and academic institutions that are sponsored by the Advanced Research Projects Agency-Energy (ARPA-E), the U.S Department of Energy’s R&D arm. Domestic energy production projects In August, the DOE announced funding for 18 ARPA-E projects designed to establish potential new areas of technology development and information that could bolster domestic energy production, cut consumption and reduce greenhouse gas emissions. The funding recipients include: WH-Power of College Park, Md., which will develop a zinc battery – inherently safer and less expensive than existing batteries – that can operate at both high and low temperatures in residential and grid-scale energy storage applications. C-Crete Technologies of San Leandro, Calif., which will create new insulation for large power transformers that could save the U.S. economy tens of billions of dollars annually by reducing the number of power outages associated with transformer failures. The University of Notre Dame, which will design a low-cost power transistor for devices used in electric vehicles, industrial power control and more. The proposed design could lead to possible energy savings of one quadrillion British Thermal Units per year, about 1% of annual energy consumption in the U.S. Perseus Materials of Knoxville, Tenn., which will develop new composite wind turbine blade manufacturing modes that could reduce labor costs, cycle times and factory footprints at the same output levels. Clean energy and data centers Another round of funding announced in June earmarked $100 million to support the commercialization of clean energy technologies. In May, 15 projects received $40 million from ARPA-E to develop high-performance, energy efficient cooling solutions for data centers that house computers, storage systems and computing infrastructure. Data centers account for approximately 2% of total U.S. electricity consumption while data center cooling can...
Partners in Excellence
Yardi’s Fellow ENERGY STAR Honorees
Earlier this year, Yardi earned an ENERGY STAR® Partner of the Year Sustained Excellence Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy after earning designation as Partner of the Year for five consecutive years. The award recognizes Yardi’s efforts in 2022 to help clients benchmark energy and water usage, obtain green financing, expand their energy management skills at Yardi Advanced Solutions Conferences and incorporate ENERGY STAR into an energy management software dashboard. Yardi was joined by a distinguished roster of fellow Sustained Excellence Award recipients from numerous industries across the country. Here’s a sampling. Commercial food service equipment manufacturer ITW Food Equipment Group of Troy, Ohio, increased ENERGY STAR-certified product offerings across its seven brands, trained its entire staff on ENERGY STAR and promoted the program’s benefits to end-users and distributors. ITW also introduced new ENERGY STAR-certified products, such as fryers and ovens, and marketed the program extensively through press releases, blog posts, website content and social media. Los Angeles-based home builder KB Home built more than 12,000 ENERGY STAR-certified homes in 2022 and generated more than 120 million impressions for an upcoming energy-smart connected community development that will include 200+ ENERGY STAR-certified homes. KB Home also promoted ENERGY STAR across various online platforms. Cenergistic, a Dallas sustainability consulting company, benchmarked more than 1,000 properties and integrated ENERGY STAR into all of its client services. The company submitted 341 ENERGY star certification and recertification applications, implemented energy management plans for its clients and posted ENERGY STAR content on social media. Nissan North America Inc., based in Franklin, Tenn., used ENERGY STAR tools and resources to reduce the energy intensity of its North American operations. The motor vehicle manufacturer achieved ENERGY STAR certifications for two manufacturing plants and hosted energy treasure hunts that identified over 18,139 metric million British thermal units in potential energy savings. Nissan also provided pro bono engineer reviews that helped 16 schools earn ENERGY STAR certification. EnergyLogic Inc., a home energy rating and applied building science company in Berthoud, Colo., provided technical support and training for home energy raters, program stakeholders and other industry professionals to ensure consistent application of ENERGY STAR program requirements. Its building science consultations incorporated trends, materials, systems and technologies that enhanced its clients’ ENERGY STAR success in 2022. The Des Moines Public Schools district in Iowa became an ENERGY STAR Certification Nation Premier Member by earning certification for 36 schools in 2022. The district also saved $1 million in energy costs that year. Financial services provider MetLife Inc. of New York City achieved ENERGY STAR certification for 30 properties, published three white papers on decarbonization and launched a campaign to increase the quantity and quality of portfolio-wide whole building energy data. MetLife also established a target to achieve net-zero emissions for its global operations and general account investment portfolio no later than 2050. St. Louis-based smart thermostat manufacturer Emerson Sensi conducted more than 1,200 ENERGY STAR training sessions for contractors in 2022 and offered ENERGY STAR-certified thermostats that are compatible with major smart home ecosystems such as Amazon Alexa, Google Home, Apple Home and Samsung SmartThings. Sensi also featured ENERGY STAR messaging on its retail products’ packaging. See the complete list of ENERGY STAR Award winners for 2023. Learn how Yardi helps commercial and residential real estate companies achieve their energy and sustainability...
Property Energy Data Requirements
The Yardi Role
The U.S. Environmental Protection Agency (EPA) requires commercial and multifamily building owners to improve performance in energy consumption, greenhouse gas emissions, water use among other aspects of building operations. With compliance deadlines approaching, several jurisdictions are stepping up their energy benchmarking efforts. Indianapolis, Miami and New Jersey, for example, have deadlines this year. Deadlines for New York City, St. Louis and Denver come in 2024, with Washington, D.C., Boston and others to follow over the next two years. That’s why the EPA has been working to raise awareness of the importance of aggregated whole building data and ways that states and utility providers can provide it to property owners. This data delivers visibility into energy consumption and helps create a roadmap for instituting ongoing operational improvements. “Demand for this data will grow as building owners seek new federal incentives under the Inflation Reduction Act that require documentation of whole-building performance as a condition of participation,” the EPA says. EPA has also advised states on passing laws that can overcome barriers utilities face in providing data. Such laws can create a path to cover costs associated with providing the data and define requirements to protect individual tenant data. The EPA will launch a full-fledged campaign over the coming months, in partnership with key building owner associations, to raise awareness of the need for this data among state policymakers and utilities. How Yardi can help What is Yardi’s connection to property owners satisfying these EPA requirements? The company’s advanced software and service solutions “simplify the aggregation of whole building data collection and reporting for environmental, social and governance purposes. The first step is gathering data from multiple sources and identifying efficient and inefficient buildings,” says Joe Consolo, industry principal for Yardi Energy. He adds, “Tracking an asset’s performance over time is also critically important. Having received an ENERGY STAR® Partner of the Year Sustained Excellence Award and earned ongoing ENERGY STAR certification for our corporate headquarters, Yardi has the expertise to work with utilities and our client building owners, tenants and residents on these priorities.” Learn more about Yardi’s comprehensive energy management solutions for energy management solutions for residential and commercial...
Energy Projections
From U.S. DOE
Here are recent projections by the U.S. Energy Information Administration (EIA), a statistical and analytical arm of the U.S. Department of Energy that collects, analyzes and disseminates energy information. Record liquid fuel consumption coming in ’24 Global consumption of liquid fuels such as gasoline, diesel and jet fuel will set new record highs in 2024. After topping an average of 101 million barrels per day for the first time in 2023, consumption will average more than 102 million barrels per day the following year. Crude oil prices will decline in that time, however, largely due to increases in crude oil production, especially in North and South America. That could also drive prices lower at the pump. The price decline prediction holds despite announcements in 2022 and 2023 by the OPEC+ oil exporting cartel to cut crude oil production by about 3.5 million barrels per day. “Our forecast for global consumption of petroleum depends on uncertain economic conditions—especially in China,” said EIA Administrator Joe DeCarolis. “How China’s economy changes following its reopening from pandemic lockdowns could have a significant impact on global consumption of petroleum products.” Coal down, renewables up The share of U.S. electricity generated from coal will decrease from 20% in 2022 to 18% in 2023 and 17% in 2024. Meanwhile, the share of renewable energy as a source for electricity generation continues to increase and is projected to reach 26% of total generation in 2024. About two-thirds of the forecast increase in renewables generation comes from new utility-scale solar photovoltaic capacity, with most of the rest anticipated from new wind projects. About 5% of U.S. coal-fired electric-generating capacity retired in the 12 months before April 2023. Investment in renewable sources such as wind and solar and the operating cost advantage of those...
Satisfying Investors
With ESG Excellence
Today’s real estate investors not only want the financial and operational numbers on their assets but what’s driving them. That includes environmental, social and governance (ESG) performance, which is becoming increasingly important to property occupants, investors and regulators. In fact, many institutional investors who provide money for U.S. real estate companies incorporate ESG criteria into their investment decisions. Meanwhile, 85% of asset owners believe ESG factors are material to investment policy. And many states and municipalities have enacted laws requiring public disclosure of energy-use data. “Property owners required to report ESG data to investors and regulators need aggregated data that can be used for multiple purposes. Investors also want access to their energy information on the same system as the investment data,”says Joe Consolo, industry principal of Yardi Energy. That’s why boosting ESG performance and data accessibility is critical to sustaining asset value, mitigating risks and optimizing returns. Many investment managers are discovering that the most efficient approach to ESG management is a technology platform that combines data for energy, property management and investment management. Benefits of this single-platform approach to ESG performance include: A single source of the truth that encompasses the underlying asset and rolls into the investment structure and then to the investor. The result is faster, better-informed investor decisions and no errors from disparate systems becoming outdated. Full compliancewith increasingly stringent ESG compliance requirements, including accurate assessments of energy consumption and greenhouse gas emissions. Energy consumption reductions of up to 30% with better data. Efficient submission of data required for ENERGY STAR certifications, successful ASHRAE Level 2 audits, GRESB® reports and energy-oriented financial incentives, also known as “green financing.” Risk mitigation through full visibility of operations. Higher LEED and ENERGY STAR scores that help attract investors and high-quality tenants. Investor...
Keys to ESG
Stay Ahead of the Curve
Note: This article is adapted from an interview with Joe Consolo, Yardi’s industry principal for energy, that was published in PERE magazine. “ESG [environmental, social and governance] performance is becoming a key concern and differentiator for many real estate players,” PwC and the Urban Land Institute declared in their joint Emerging Trends in Real Estate survey report in 2022. Establishing ESG priorities to meet changing compliance and investor expectations complicates the already complex business of property management – but in today’s environment, property owners need to avoid the consequences of ESG obsolescence that can alienate investors and tenants and invite regulatory penalties. That’s why enhancing ESG performance with improved operations, technology and tenant behavior is critical to sustaining asset value. Obsolescence risks investor hesitancy Back when ESG factors weighed less heavily on property management, buildings become obsolescent because their design or amenities become outdated, causing the properties to lose market value. External factors such as the location or local job loss often also came into play. But in this era, failure to comply with energy efficiency standards and other ESG standards rank among the key drivers of property obsolescence – and real estate investment decisions. With laws governing environmental and construction standards “only becoming more stringent, there is a significant risk for the future if you barely meet those standards today,” Consolo says. Tech bolsters compliance Fortunately, property managers can undertake a number of initiatives to prevent ESG obsolescence and maintain attractiveness to investors and tenants. They include such relatively simple sustainable processes as encouraging tenants to recycle and switch off their lights at day’s end. Preventative equipment maintenance, such as changing filters, upgraded air handlers and other equipment and dealing promptly with equipment failure, also helps maintain peak ESG performance. Other actions that...
Cities Step Up
Top ENERGY STAR Performers
The ENERGY STAR® initiative, which certifies businesses and consumer products that conform with energy-efficient solutions that protect the climate and public health, launched more than 20 years ago. It remains a key U.S. Environmental Protection Agency initiative to reduce greenhouse gas emissions, promote carbon pollution-free electricity and achieve net-zero emissions targets. An EPA report in November 2022 noted that energy benchmarking enabled by ENERGY STAR® Portfolio Manager® has grown from 2,000 office buildings in 1999 to more than 280,000 buildings encompassing over 27 billion square feet of space. ENERGY STAR-certified buildings use an average of 35% less energy and produce 35% fewer carbon dioxide emissions than typical buildings. As part of its focus on commercial buildings, which account for 16% of U.S. greenhouse gas emissions and $190 billion in annual energy spending, the EPA compiles an annual Top Cities list that measures the achievements of metros’ ENERGY STAR performance. Here are highlights from this year’s list, which encompasses commercial and multifamily properties: Most certified buildings. Los Angeles came in first in this category, as it did the previous three years, with 748, followed by Washington, D.C., with 555, Atlanta (376) and San Francisco (343). New York City, Denver, Riverside, Calif., Chicago, Dallas and Boston rounded out the top 10. Most total floor area. Los Angeles and Washington led in this ranking as well with 162.8 million square feet and 149.1 million square feet, respectively. New York and Chicago each exceeded 100 million square feet, with Atlanta and San Francisco close behind with 93.7 million square feet and 92.7 million square feet, respectively. Most greenhouse gas emissions prevented (measured by metric tons of carbon dioxide equivalent). San Francisco was far ahead in this category, with 2,007,000 metric tons. Washington came in second with 517,200 metric tons, followed by Chicago, New York, Houston and Denver. Biggest cost savings. Los Angeles was the champion in this category, saving $226 million through ENERGY STAR-related initiatives. Washington was second with $180.7 million, with New York ($170.3 million) and San Francisco ($141.5 million) the other metros to achieve nine-digit savings. Mid-size and small cities. EPA also ranked smaller metros’ ENERGY STAR performance. In the mid-size category, Milwaukee was the leader in the total floor area, emissions prevented and cost savings categories, while Raleigh, N.C., was the building count leader. Among small cities, Punta Gorda, Fla., led in total floor space and cost savings, while Jackson, Mich., topped the building count and Sioux City, Iowa, set the pace for emissions prevention. “I applaud this year’s top cities, as well as the owners and managers of each ENERGY STAR-certified building in them, for taking real action to reduce greenhouse gas emissions and help America address the climate crisis,” EPA Administrator Michael S. Regan said in a news release. See the complete 2023 ENERGY STAR Top Cities report. Yardi recently received the 2023 ENERGY STAR® Partner of the Year Sustained Excellence Award from the EPA and the U.S. Department of Energy after being named Partner of the Year for five consecutive years. Read the...
Observe Earth Day
With Energy-Saving Measures
The first Earth Day took place in 1970 when 20 million Americans united to demand greater protections for our planet. Today, Earth Day is recognized across the globe with one billion individuals supporting the mission to maintain and protect our planet’s natural resources. With increased attention on ESG initiatives, this Earth Day is a great time to make a commitment to decrease your organization’s energy use. You can start by reviewing the checklists provided by ENERGY STAR® for low-cost and rapid payback energy-saving measures. Suggestions range from operations and maintenance to occupant behavior and education. And Yardi Pulse has solutions and services to support you along the way: Want to better understand your utility invoices and ensure payments are on time to reduce if not eliminate late fees? Utility Invoice Processing outsources review and payment to Yardi staff familiar with the complexities of these documents. Ready to save 2-5% on your energy costs? Meter Insights collects and analyzes real-time energy data to identify issues before they show up as anomalies on your invoice. Interested in proactive and predictive maintenance to get a jump on costly equipment repairs? Fault Detection automatically syncs with Yardi Facility Manager to identify faults early so you can replace individual parts, rather than entire pieces of equipment. Need to benchmark or certify your buildings? Yardi is an ENERGY STAR Partner of the Year Sustained Excellence award winner and a GRESB Global Partner. Our Energy Benchmarking teams work closely with these organizations to ensure our energy team can streamline these intricate processes on your behalf. Hoping to find energy at a lower cost? If your buildings operate in a deregulated market, our Energy Procurement team can leverage their expertise to conduct market research, negotiate pricing and review legal contracts. Looking to...
STAR Power
Yardi Earns Fifth EPA Award
Each year, the U.S. Environmental Protection Agency (EPA) honors a group of businesses and organizations that have made outstanding contributions to protecting the environment through superior energy efficiency achievements. Since 1992, the EPA’s ENERGY STAR program and its partners helped prevent four billion metric tons of greenhouse gas emissions from entering our atmosphere. In 2020 alone, the program’s emissions reductions were equivalent to more than five percent of U.S. total greenhouse gas emissions. Highest EPA accolade As a Service and Product Provider, Yardi is proud to receive the 2023 ENERGY STAR® Partner of the Year Sustained Excellence Award from the EPA and the U.S. Department of Energy after being named Partner of the Year for five consecutive years. The award is the highest EPA honor and celebrates companies that offer energy services and products in the commercial, institutional or industrial markets for successfully assisting their clients in strategic energy management and building design. This includes energy services companies (ESCOs), unregulated energy retailers and marketers, engineers, architects, energy consultants, contractors, distributors, manufacturers, commercial lenders, energy information providers and any other provider of energy efficiency-related products and/or services. “As we accelerate historic efforts to address climate change, public-private partnerships will be essential to realizing the scale of our ambition,” said EPA Administrator Michael S. Regan. “I applaud this year’s ENERGY STAR award winners for working with EPA to deliver a clean energy future that saves American consumers and businesses money and creates jobs.” Energizing achievements “We applaud our clients’ impressive achievements, and we are proud to receive this honor from the EPA for the fifth consecutive year. Energy efficiency is a core component of our mission as a real estate technology provider. We remain committed to continuing to help the industry and our clients gain the utmost benefits using ENERGY...
