Whether you reside in, manage, or serve on the board of a co-op, condo, or HOA, examining your building’s energy efficiency from top to bottom, inside and out, will have enormous implications for individual and communal costs, energy conservation, and environmental conditions. And in the current unprecedented global viral pandemic, it is more important than ever to consider that making changes to power sources and systems can have collective health effects as well.
So where to begin? In this two-part investigation of energy innovations for multifamily properties, we will help you understand the latest products and systems, how to navigate the slow-moving channels of energy bureaucracy, and even find ways to help pay for energy upgrades. Additionally, we will cover the question permeating every aspect of life these days: How does the coronavirus crisis affect all of this?
This first part explores new energy-efficient products and updates that can be installed in individual units. These innovations have varying costs and levels of complexity, but all of them will pay for themselves in terms of reduced utility bills, lower environmental impact, and comfort and quality of life. Some states even have programs and incentives to defray the uptake expenses.
Part two will delve into broader changes at the building-wide and community level, including how local and federal legislation is impacting the future of clean energy.
Living as we do in the Digital Age, technology seems to develop so quickly that what was just recently cutting-edge is now obsolete. Nevertheless, we continue to look for and find ways to invest in new concepts or products, even if they’re destined to be replaced with something newer and better. Think about how we line up for the latest smartphone the minute it is available, even if the one we have is perfectly functional. When it comes to upgrades in the home, however, many of us are reluctant, even though the stakes can be much higher—we’ll patch and repair a furnace or roof as long as we possibly can before even considering a replacement, running the risk of paying more in the long run.