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Real estate industry

Real Estate Industry Calls for Energy Efficiency and Conservation Strategies

Strategic Insights

— 2 min read

As the United States seeks to improve its energy independence, the real estate industry has demonstrated its commitment to addressing supply and demand challenges through historic successes in energy efficiency and conservation. The Real Estate Roundtable, led by Chairman Robert J. Lowe, has urged the Administration to leverage public-private partnerships and expand the ENERGY STAR program to include shopping centers and apartment buildings. This effort has resulted in significant environmental benefits, equivalent to taking 20 million cars off U.S. highways every year.

The Real Estate Roundtable has called for continued expansion of the ENERGY STAR program, prioritization of ENERGY STAR-rated buildings and certified "green buildings" in government and private sector decisions, and easier integration of on-site energy generation technologies into buildings. The industry has made significant progress in reducing energy consumption, with residential energy use per household declining 37 percent since the mid-1970s and commercial energy use per square foot declining 25 percent during that same period.

Key Takeaways:

  • The Real Estate Roundtable urges the Administration to continue to expand the ENERGY STAR program to include shopping centers and apartment buildings.
  • The ENERGY STAR Buildings partnership has resulted in environmental benefits equivalent to taking 20 million cars off U.S. highways every year.
  • The roundtable also calls for the government to prioritize ENERGY STAR-rated buildings and certified "green buildings" in their decisions about leased space.
  • The industry has made significant progress in reducing energy consumption, with residential energy use per household declining 37 percent since the mid-1970s and commercial energy use per square foot declining 25 percent during that same period.
  • The Real Estate Roundtable has pledged to work with the Energy and Treasury departments to implement the "green building" tax provision enacted as part of this year's landmark energy bill.
  • The provision offers a targeted tax deduction for energy efficient building construction and renovation equal to $1.80 per square foot in construction expenditures.
  • The industry has a significant role in reducing energy consumption and has made notable improvements in recent decades.

Statistics:

  • Residential energy use per household has declined 37 percent since the mid-1970s.
  • Commercial energy use per square foot declined 25 percent during the same period.
  • The REALTORS' energy consumption has decreased despite a sharp 50 percent increase in average new home size during that period.
  • The ENERGY STAR Buildings partnership has resulted in environmental benefits equivalent to taking 20 million cars off U.S. highways every year.
  • The "green building" tax provision offers a targeted tax deduction equal to $1.80 per square foot in construction expenditures.

Sources:

  • Real Estate Roundtable
  • U.S. Newswire
  • The Roundtable's letter to President Bush
  • The Energy and Treasury departments
  • The landmark energy bill
  • U.S. Newswire (http://www.usnewswire.com)

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