The Meter is Running
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Pay attention to the energy-saving trail – and take advantage of grants.
AUTHORRobert J. Braverman
When your building is considering improving its mechanical systems, it’s worthwhile to investigate what energy efficiencies and government subsidies can be tied in.
We handled a transaction where a building installed a cogeneration system that allowed the building to realize savings on the costs to heat its hot water and, at the same time, provide backup power to allow the building to have some elevator service, emergency lighting, and hot water during a power outage. In addition to the utility savings and the advantages of having a backup power resource, the building qualified for a New York State grant to help fund the project.
The project was the brainchild of an energy consultant retained by the building to explore different ways it could stay ahead of the curve in terms of energy efficiency when considering upgrading its elevators. When a building is contemplating a significant capital improvement to its mechanical systems, it would be worthwhile to investigate what energy efficiencies can be achieved in connection with such an upgrade and what government subsidies might be available to defray the costs.