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...

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...

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...

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...

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...

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...

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...

Let’s go green! Earth Day is April 22. Earth Day is celebrated with over a billion people worldwide, promoting a clean, green environment. Companies that have developed robust Environmental Social Governance (ESG) standards are seeing better profitability, stronger financial performance, and happier employees. Yardi was recently awarded the ENERGY STAR® Partner of the Year for Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy for the fifth year. Earth Day is important to us at our offices worldwide, as it is for our clients and their communities. No time is more vital than the present to act and invest in our planet. Here are some ideas to mark Earth Day at your properties and be good guardians of the environment. Host a “lights out” event for your community. Host a happy hour in the clubroom for an hour and encourage residents to turn off their electronics inside their units. Have organic paper-made utensils and plates. Serve up some organic cupcakes, green juices, and organic coffee. Clean-up event at a local park. Host a trash pick-up day if you are close to a park or recreation center. Residents can come out and help clean up the park free of cans, plastics, or any other trash that is on site. Be sure to provide supplies residents need, such as trash bags and gloves. Then, take it a step further and plant a tree with residents. Plant a tree or some flowers around the property. Native plants are the best option for local bees to pollinate. Plants serve as mood boosters and increase productivity and creativity. Your green efforts will give you leverage over the competition to retain or attract new residents. Explore the outdoors. This saves on indoor gym...

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...

This is the latest of our periodic updates on the U.S. Energy Information Administration (EIA), the U.S. Department of Energy’s statistical and analytical agency. EIA collects, analyzes, and disseminates energy information for the benefit of energy policymakers, analysts and consumers. Winter costs on the rise The EIA expects higher wholesale electricity prices this winter in every region of the country, with increases ranging from 33% higher in California to more than 60% in the mid-Atlantic and Central regions. Electricity price could peak more than three times higher in New England than elsewhere in the U.S., due to limited pipeline capacity for liquefied natural gas coupled with stronger global demand for LNG. In one encouraging sign for consumers, the EIA does not “expect retail electricity prices to increase as much wholesale prices this winter,” said Administrator Joe DeCarolis. Batteries on growth curve through ‘25 Developers and power plant owners plan to significantly increase utility-scale battery storage capacity in the U.S., reaching 30 gigawatts by the end of 2025. Batteries store extra energy produced by intermittent resources such as wind and solar. Battery storage capacity in the U.S., negligible prior to 2020, grew to 7.8 GW by October 2022, with 1.4 GW more capacity expected by the end of the year and an additional 20.8 GW through 2025, more than 75% of which will be in California and Texas. Developers have scheduled more than 20 large-scale battery projects to be deployed by 2025. The 409 megawatt Manatee Energy Storage in Florida is currently the U.S.’s largest operating battery storage project. Uptick in commercial building efficiency A recently released U.S. commercial buildings energy consumption survey report shows that the average total amount of energy used per square foot in commercial buildings decreased by 12% from 2012 to...

A recent report from the U.S. Environmental Protection Agency traces 20 years of energy efficiency progress enabled by ENERGY STAR® and proposes a framework for achieving a zero-carbon economy. ENERGY STAR originated in 1991 as part of the EPA’s Climate Partnerships Programs initiative, which sought ways to reduce greenhouse gas emissions, promote carbon pollution-free electricity and achieve net-zero emissions targets. ENERGY STAR certifies businesses and consumer products that conform with energy-efficient solutions that protect the climate and public health. Documenting ENERGY STAR’s impact The EPA report notes that energy benchmarking enabled by ENERGY STAR® Portfolio Manager® has grown from 2,000 office buildings initially to more than 280,000 buildings encompassing over 27 billion square feet of space across 15 building types. More than 36,000 buildings – including the Yardi headquarters buildings in Santa Barbara, Calif. – have earned ENERGY STAR certification for excellence in energy performance. Key findings in the new report, which includes survey findings from 2019, include: ENERGY STAR-certified offices are 18 times larger than similar buildings, representing an opportunity to expand certification to smaller and mid-sized buildings. EPA incentives plus expanded state and local benchmarking, performance and disclosure mandates are expected to expand certification among smaller buildings Almost 40% of ENERGY STAR office buildings are all-electric, up from 30% in 1999. The report notes that efficiency of fuel use, rather than the mix of fuels used, drives ENERGY STAR-level performance. Furthermore, efficiently using electricity to meet energy needs positions buildings to leverage onsite renewable systems HVAC and lighting system upgrades are a priority, with 72% of ENERGY STAR buildings pursuing HVAC enhancements and 83% implementing lighting systems upgrades. Such upgrades were a priority for only about a third of the buildings reported in a 2012 survey ENERGY STAR buildings deploy more sophisticated...

The Advanced Research Projects Agency-Energy (ARPA-E) sponsors corporate and academic institutions in a variety of energy-related projects. Here’s the latest of our periodic reviews of recent developments at the agency, which serves as the U.S. Department of Energy’s R&D arm. Buildings as carbon storage facilities In June, the DOE announced 18 contract awards for its Harnessing Emissions into Structures Taking Inputs from the Atmosphere (HESTIA) program, which aims to develop technologies that can transform buildings into net carbon storage structures – meaning they absorb more carbon from the atmosphere than is released during construction. The HESTIA projects “will develop and demonstrate building materials and whole-building designs from a wide range of potential feedstocks (e.g., forestry and purpose-grown products, agricultural residues, direct carbon utilization) that are net carbon negative on a life-cycle basis by using atmospheric CO2 in the production process,” according to ARPA-E. “This is a unique opportunity for researchers to advance clean energy materials to tackle one of the hardest to decarbonize sectors that is responsible for roughly 10% of total annual emissions in the United States,” Energy Secretary Jennifer M. Granholm said in a press release. HESTIA project team members receiving contracts include the National Renewable Energy Lab in Fairbanks, Alaska; Purdue University; Aspen Products Group of Marlborough, Mass; Biomason, based in Durham, N.C.; and the University of Pennsylvania. Another HESTIA project, announced in March, awarded contracts to the University of Washington and UC Davis to evaluate materials and designs and generate lifecycle assessments for the project. Learn more about the HESTIA projects. Forward-thinking tech projects net funding Twenty small businesses received contracts in July under ARPA-E’s Supporting Entrepreneurial Energy Discoveries (SEED) program, which seeks to develop forward-thinking energy technologies ranging from revamped biofuel manufacturing, newly efficient extraction of metals from e-waste, sustainable...

A report from the U.S. Environmental Protection Agency illustrates how race and income impact the energy performance of a community’s buildings. The DataTrends research and analysis report shows that ENERGY STAR® scores for buildings in communities of color averaged 2% lower than buildings in majority-white communities. Buildings in low-income communities scored an average of 4% lower than moderate- and high-income community buildings. The EPA report, which summarizes ENERGY STAR® Portfolio Manager® data and ENERGY STAR scores from 242,098 build­ings spanning 85 building types, found that: The average ENERGY STAR score – a 1-to-100 rating that compares a building’s energy performance to similar buildings nationwide – in communities of color was 57.5 vs. 58.8 for buildings in majority-white communities ENERGY STAR scores in buildings in low-income communities averaged 56.5 vs. 58.8 recorded in moderate to high income communities K-12 schools and multifamily buildings show the largest differences in average ENERGY STAR scores as measured by both race and income level The proportion of fully electrified buildings in cold and moderate climates was 15.2% for communities of color and 20.6% for majority-white communities. The prevalence of electrification in similar low-income communities was 15.3% vs. 20% in moderate- and high- income communities 9.1% of buildings in communities of color in moderate and cold climates are reliant on heating oil – which has the highest carbon emissions intensity among the most common fossil fuel heating sources – whereas only 5.8% of white-majority community buildings are. The gap is narrower between low-income communities and moderate- to high-income communities: 6.5% and 6.8%, respectively The proportion of buildings equipped with onsite solar energy is virtually the same in all racial and income strata – 1% for communities of color and 0.8% for white-majority communities, 0.8% for low-income communities and 0.9% for...

In December 2017, the New York City Council passed Local Law 33. The administrative code and a subsequent amendment require owners of buildings over 25,000 square feet to post the building’s energy usage and efficiency scores on the premises. The Oct. 31 deadline for building owners to post their Energy Efficiency Rating Label for 2022 is fast approaching.  Scores for 2022 are scheduled to posted on the New York City website by Oct. 1.  Similar to the health code ratings seen in many restaurants, the system assigns a letter according to the building’s ENERGY STAR® Portfolio Manager® score, which is required annually. Buildings with a score between 85-100 earn an A, 70-84 a B, 55-69 a C, and 1-54 a D. (A score of 75, for example, means that a building performs better than 75% of other buildings.) Building owners who fail to post their grades are subject to fines and receive an F grade. Building owners and operators concerned about their scores can confirm that the listed square footage, the number of bedrooms and units for their properties are correct. They can also hold an energy audit to identify potential improvements including measures to reduce carbon emissions, which impact compliance with Local Law 97, and involve building tenants and residents in energy efficiency measures. Learn more about Local Law 33 and its compliance criteria and see a sample label. Need help benchmarking or preparing for an energy audit? Looking for ways to improve your property’s energy efficiency? Your Yardi Energy Team is available to...

Here’s the latest of our periodic updates of news and trends reported by the Energy Information Administration, a statistical and analytical agency of the U.S. Department of Energy. Conflict spurs fuel price uncertainty Fuel price projections are uncertain, due in part to the Russia-Ukraine war’s potential impact on nations, energy producers and markets. With global inventories of crude oil, natural gas, and coal below average before the war, U.S. gasoline and diesel prices hit multiyear highs in March. EIA forecasts that the average inflation-adjusted prices of gasoline and diesel this summer will be the highest since summer 2014. Production could temper prices in ‘23 EIA projects that U.S. oil production will average 12.4 million barrels per day in 2023, surpassing the record high for domestic crude oil production set in 2019, with domestic crude oil production increasing steadily between 2021 and 2023. Crude oil inventories will reach 465 million barrels at the end of 2023, which is about 11% more than inventories at the end of 2021. “We expect global demand for petroleum products to return to and surpass pre-pandemic levels this year, but crude oil production grows at a faster rate in our forecasts,” said EIA Acting Administrator Steve Nalley. “We expect that as crude oil production increases, inventories will begin to replenish and help push prices lower for gasoline, jet fuel, and other products in the short term.” By September 2023, U.S. natural gas production will hit an all-time high daily average. Coal consumption, meanwhile, will fall by 2% in 2022 and remain relatively unchanged in 2023. Home appliances getting smarter EIA’s recently released 2020 Residential Energy Consumption Survey offers a look at electricity-consuming devices used in American homes. The survey reveals that nearly half of U.S. households used LED lighting in...

Yardi recently earned the 2022 ENERGY STAR® Partner of the Year Sustained Excellence Award, the highest honor bestowed by the ENERGY STAR program, in recognition of its longstanding commitment to protecting the environment through superior energy efficiency achievements. The company’s accomplishments over the past year include helping more than 200 clients benchmark energy in 5,000+ buildings, sharing ENERGY STAR data to help clients access green financing for buildings, earning ENERGY STAR certification for two corporate headquarters buildings in Santa Barbara, Calif., and providing energy classes for more than 6,000 client representatives during its virtual Yardi Advanced Solutions Conference. Yardi shared the ENERGY STAR Partner of the Year spotlight with organizations that also distinguished themselves in energy stewardship in 2021. They include: Industry associations including BOMA International, a trade association for commercial real estate professionals. BOMA International promoted ENERGY STAR resources to help its members meet sustainability objectives. BOMA’s Georgia chapter also received an award for promoting ENERGY STAR values in articles, videos and website content. IREM, an international commercial real estate organization, earned recognition for launching certified sustainable property programs and courses. Yardi has presented its smart energy solutions at BOMA and IREM conferences and provided a grant for BOMA’s Water and Waste Challenge program.Commercial building interests such as global real estate services and investment firm CBRE, which achieved ENERGY STAR certification for 174 properties and benchmarked 5,941 buildings in ENERGY STAR Portfolio Manager®; real estate investment manager Nuveen Real Estate, which delivered sustainability and ENERGY STAR Portfolio Manager training to 100% of its internal staff; professional services provider and investment manager JLL, which delivered ENERGY STAR messages to 1.3 million people through its social media channels; and Vornado Realty Trust, a fully integrated REIT that benchmarked 100% of its assets for energy, 99%...