Is the small amount of sustainable building in multifamily a chicken-and-egg conundrum?
Is it that owners don’t want to invest because tenants won’t pay for performance efficiencies? Or is it that tenants don’t have access to high-performing features, so they don’t have the opportunity to pay more for them?
The Institute for Market Transformation (IMT), Waypoint Building Group, and Powers Energy Solutions are seeking to test what the true issue is and how the industry can start solving it. The three organizations are in the process of creating a pilot program with a targeted group of market-rate multifamily building owners who will serve as a testing ground.
The program, dubbed the Multifamily Residents Valuing Efficiency Pilot, will test whether and how much renters will pay for energy efficiency. The owners will offer residents an energy-efficiency amenity package (EEAP) that the owners will install at their own cost and, in turn, charge residents a monthly fee to recoup those costs.
The program presents an opportunity to quantify apartment market demand for energy-efficient features and to determine how to prioritize the features by factors such as increased comfort, faster lease-ups, and reduced turnover. The results from the program will be published to the multifamily community with the hope they will inspire more green measures in market-rate buildings.
The group has formulated some sample EEAPs to use for testing. The aim is to create packages that incorporate new technologies to reduce housing energy, increase comfort, and appeal to the broad demand for technology.
The features of the sample packages will depend on the various developer partners involved but could include:
- Energy Star appliances such as microwave ovens, dishwashers, refrigerators, and in-unit washers and dryers;
- Smart climate-control systems that incorporate wireless program controls, thermostats, water heater insulation, thermostat settings, and window films;
- Smart fixtures, including energy-saving lightbulbs and power strips, smart switches, smart outlets, and motion sensors;
- Home energy monitoring systems that continuously monitor energy consumption; and
- Energy management systems that control apartment energy use through smartphone or remote-control technology.
The project is currently looking for owners to participate and partners to help fund the project. Anyone interested in more information should contact Megan Houston, program manager at the Institute for Market Transformation, at [email protected].
