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Co-op and Condo Governing Boards

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Smart Ways to Make Your Building More Energy-Efficient

Is your condo or co-op building as energy efficient as it could be? Or is it leaking both energy and money?

Sustainability is as good for your residents’ bottom line as it is for the environment. NYSERDA’s Multifamily Energy Performance Portfolio of programs can help you attain a new standard for energy savings and resident comfort and efficiency.

The Multifamily Performance Program: a whole-building approach to energy efficiency

Enhancing your building’s energy efficiency will not only lower energy costs considerably, but will also enhance air quality and energy security. And like other capital improvements, it will help you maintain and increase the building’s property value.

NYSERDA’s Multifamily Performance Program can help you:

Take advantage of low-cost comprehensive assessments of your buildings’ energy usage and leverage incentives to help pay for energy efficiency upgrades and technologies. Incentives can be considerable – payments for a comprehensive energy assessment and the implementation of a diverse energy efficiency scope of work range up to $1,000 per unit for firm gas buildings. A market-rate, firm gas building with 50 units, for instance, could qualify for a total incentive of $35,000. Buildings that surpass a 20% threshold in energy reduction may also qualify for an additional Performance Payment (up to $300 per unit).

The value of submetering

If your market-rate building uses a master utility meter system with a single electricity bill, converting to advanced submetering is definitely something you should consider.

When residents are billed for the actual energy they use, they can make choices that affect the amount they pay. Advanced submetering technology gives your residents the data they need to increase energy efficiency and save money. Your operating costs will be lower, and your residents will be happier. It’s a better bottom line for everyone.

NYSERDA’s Advanced Submetering Program provides incentives of $250 per meter, up to 50% of the cost of the system, as well as $1,500 per master meter. The program also provides cash incentives when ENERGY STAR® refrigerators and in-unit lighting are installed in residential units.

Case studies: follow the leaders in energy savings

Co-op and Condo governing boards have taken bold steps to stop wasting energy and start saving money. Here is just a small sample of their success:

  • Park City Estates – This Queens co-op used a single master meter in each of it’s five buildings, which meant every resident in its 1,049 units were charged the same for electricity, regardless of their individual usage. To remedy the problem, management decided to take advantage of NYSERDA’s Advanced Submetering Program, which provided over $265,000 in incentives. As a result, tenants became more conscious of their usage, leading to a 15 percent drop in maintenance costs, and subsequently, a rise in property values. Download the full Park City Estates case study [PDF].
  • Tower East – This Manhattan co-op building relied on a single electric master meter, which required all residents to share electricity costs whether or not they limited their electricity use. Using incentives from NYSERDA’s Advanced Submetering Program, Tower East residents had submeters installed in each unit in the building, giving them the power to benefit from cutting their personal electricity use. Download the full Tower East case study [PDF].
  • Carnegie House – The mechanical systems in this 21-story Manhattan co-op building needed an across-the-board update. Rather than simply replacing equipment, the building’s management and board decided to invest in a comprehensive energy upgrade project, creating more than $139,000 in annual cost savings. Download the full Carnegie House case study. Download the full Carnegie House case study [PDF].
  • Trump Tower at City Center – Just a few years after this White Plains high-rise was built, residents saw energy bills that were dramatically higher than expected. After completing a comprehensive energy upgrade project that improved lighting and added a combined heat and power unit, the building slashed energy use by 21 percent.

Be your building’s energy champion

Call us at 1-866-NYSERDA and we’ll send someone out to make a presentation to your building’s governing board.