03 Jan Platinum Energy Group Adds Value To Real Estate Portfolio
While the practice of retrofitting buildings with energy conserving technology like efficient boilers and lighting has been around for years, skepticism remains regarding the effectiveness of these energy conservation measures. A new study shows these measures can significantly reduce spending on fuel and electricity.
A report commissioned by Living Cities, a nonprofit partnership of 22 foundations and financial institutions, examined nearly 19,000 affordable housing units in New York City that had undergone energy efficiency retrofits. The report found these relatively simple changes resulted in an average 19-percent savings on fuel and a 10 percent savings on electricity across the portfolio. This study marks the first concrete data and could prove critical in convincing owners and lenders of the viability of investing in energy efficiency.
At Terrific Tenements, an 88-unit, two-building affordable housing complex on West 48th St. in Manhattan, the installation of new boilers and heating controls reduced fuel costs by 50 percent, yielding an annual fuel savings of $551 per apartment. Another Related Companies project at the 343-unit Riverview II in Yonkers yielded a reduction in overall electricity usage by more than 25 percent. Both of these projects were performed by Platinum Energy Group.
“The fact is anything we’re doing for one building can be replicated across an ownership or management group’s entire portfolio,” says Eric Michaels, Platinum Energy Group’s Director of Green Building Technologies.
According to Michaels, a corporate real estate strategy based on buildings that operate efficiently supports business objectives, enhances the bottom line and increases properties’ value. By focusing on mechanical system optimization, Platinum Energy Group can help you develop a portfolio wide building energy management strategy aligned with your business goals to achieve these benefits.
To find out how the Platinum Energy Group can help increase the value of your existing portfolio, contact Eric Michaels at (631) 796-9287 or email@example.com