Energy Benchmarking Key to Realizing $9 Billion in Savings in Apartments and Condos: Benefits for Owners and Renters
Almost 40 million Americans live in apartments and condominiums in multifamily buildings (those containing five or more units). Over the past decade, these Americans have seen their energy costs rise by 20 percent — more than three times the average rate of rent increases. A new report from the Institute for Market Transformation (IMT), Energy Transparency in the Multifamily Housing Sector, finds that the nation’s multifamily housing stock holds potential for major energy efficiency gains, which would improve housing affordability by keeping renters’ utility bills down. Transparency about buildings’ energy use can drive these gains.