Energy Efficiency Opportunity for Multifamily Housing

Annually, over $20 million is spent on energy for the different types of buildings such as apartments and condos that exist in the United States. There are over 18 million of these types of buildings in the United States with over half of them being rented by tenants. Tenants of the apartment find it hard to get utilities like single-family homes to do for a number of reasons such as there are no wireless smart meters for each apartment and there are cost and benefits interruptions. The interruptions occur due to the fact that there are no incentives for investing in improving apartments they are renting.

Landlords, on the other hand, do not see the need to help increase the energy efficiency of their property which will help decrease the utility bills of their tenants and this causes a barrier between landlord and tenant. Another issue is the fact that efficiency investments take years before it starts yielding returns and this will serve as a deterrent for owners who would want to sell their buildings at the right time.

See more...