Thursday, June 23, 2011

DOE and Appraisers Join Forces to Assess Value of Energy Efficiency

BOMA San Francisco Members:

In February, President Obama announced the Better Buildings Initiative, a new White House initiative to drive energy efficiency in the built environment. One of the main planks of the initiative is the goal to improve commercial building efficiency 20 percent by 2020. Last week, U.S. Energy Secretary Steven Chu announced a partnership with The Appraisal Foundation that will help achieve this goal by expanding access to energy efficiency and building performance information for commercial buildings. 

Under the new partnership, the U.S. Department of Energy (DOE) and The Appraisal Foundation will work to ensure that appraisers nationwide have the information, practical guidelines and professional resources they need to evaluate energy performance when conducting commercial building appraisals. DOE will also develop educational materials and create a database to provide appraisers with energy–savings data, federal green building programs and policies, and additional information on energy performance.

BOMA International applauds this effort, as we believe that this will help enable investors, financers, building owners and managers, and others to accurately assess the value of energy efficiency as part of the building’s overall appraisal.

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