Controlling Your Building's Energy Usage Efficiency Measures for Co-ops and Condos

 Charged with managing their properties’ expenses, boards of co-ops and condo complexes place a high priority on  controlling energy consumption. In some regions, multi-family properties are  being aided by local utilities and incentive programs that encourage building  retrofits that improve energy efficiency.  

 For example, in New York, Con Edison’s Multi-Family Energy Efficiency Program provides the opportunity for customers  to save between $6,000 and $20,000 for an energy management system that may  cost between $15,000 and $40,000 for buildings with up to 75 units. There are  also other incentives for various common area improvements ranging from  upgrading a properties’ heating, ventilating and air conditioning system (HVAC) and installing high  efficiency motors for pumps and fans, to replacing low efficiency lighting with  high efficiency lighting and installing occupancy sensors.  

 Additionally, state programs exist to help co-ops and condos improve their  energy efficiency. Using New York again as an example, the New York State  Energy Research and Development Authority (NYSERDA) offers co-ops and condos  both technical assistance to identify areas for improvement and also financial  assistance for energy efficiency measures and equipment upgrades. The financial  incentives and other assistance notwithstanding, co-op/condo boards should  recognize the significant benefits to be derived from an energy management  program and how best to implement one.  

 Benefits Derived

 There are considerable energy savings to be gained from a well-developed energy  management program. Depending upon the measures taken, the equipment payback  period can be as short as two years and the energy savings considerable,  ranging from 10-25%--all with improved comfort and safety for occupants.  

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