Multifamily Building Owners and Managers of Existing Buildings
Make your building a lean, mean energy-optimizing machine
Older multifamily buildings may have their charms, but they can leak energy and waste money.
Energy-efficient buildings produce real savings, which fall directly to the owner’s bottom line. Improving buildings’ energy efficiency also enhances property value and significantly reduces operating costs, sometimes by as much as hundreds of thousands of dollars a year.
NYSERDA’s Multifamily Performance Program makes multifamily energy efficiency easier to achieve.
If your building’s electricity is monitored by a master meter, you might also be interested in converting to a system that includes advanced submetering, which shifts the responsibility for electric costs—and use—to your residents. Most building owners find that submetering cuts energy use substantially. Read more about submetering.
Get hundreds of thousands in cash and low-interest financing for energy upgrades
If your multifamily building contains five or more units and sits within the boundaries of New York State, you qualify.
The process of saving money and obtaining financial incentives is straightforward. The first step is to find and choose a Multifamily Performance Partner. Partners are qualified firms or organizations who act as your expert, advocate and guide through every step of the process. NYSERDA provides a list of Multifamily Performance Partners for you to choose from.
Your Multifamily Performance Partner will conduct a whole-building assessment and develop an Energy Reduction Plan that may cover everything from insulation and duct-sealing to HVAC and lighting. Once your plan is approved, you may become eligible for financial incentives and low-interest funding from NYSERDA and participating lenders. Your Partner can help you with the application process.
Incentives can be considerable – $600 per unit plus a flat Incentive #1 payment to cover the Energy Reduction Plan. Incentive #1 is based on the number of units within the building. A market-rate building with 600 units, for instance, would qualify for an Incentive #1 payment of $10,000; an affordable-rate building of the same size would qualify for a $20,000 payment.
Low-interest loans are available through Green Jobs – Green New York, a statewide effort to strengthen our communities through energy efficiency.
Read more about the details of the Multifamily Program for Existing Buildings.
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 to consider.
When residents are billed for the actual electricity 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 Electric Reduction in Master-Metered Buildings 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® appliances are installed in residential units and common areas.
Are you also a building developer?
Read more about the Multifamily Program for New Construction.
Case studies: follow the leaders in energy savings
Since 2007, owners of more than 4,200 multifamily buildings have taken bold steps to stop wasting energy and start saving money. Here is just a small sample of their success:
- Grant Village Apartments – three dated, failing atmospheric boilers for 520 apartments across 45 buildings were upgraded to a decentralized approach that saved 25 percent and $293,643 in electricity and natural gas costs for this complex in Syracuse. Download the Grant Village case study [PDF].
- Phipps Garden Apartments – This two-building Queens apartment complex was required to upgrade its #6 oil-burning boiler. Rather than do the minimum, Phipps Garden Apartments’ management invested in a comprehensive energy upgrade project, earning more than $300,000 in incentives and an annual energy savings of nearly $180,000. Phipps Garden Apartments case study [PDF].
- Riverview Court – This 343-unit affordable housing building needed an across-the-board update. By replacing aging windows, lighting and refrigerators and making other upgrades such as air sealing and installing electricity submeters, Riverview Court cut its energy costs by more than $300,000 a year. Download the full Riverview Court case study [PDF].
- Saranac Lake Building – the mixed-use residential and commercial building at 135 Broadway in Saranac Lake turned around a long period of deferred maintenance and high energy bills with a comprehensive plan that cut energy use by 27 percent and delivered annual savings of $6,495. Projected payback time: 6.8 years. Download the Saranac Lake 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.
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