Power Surge: Fueling Your Bottom Line with Energy Efficiencies

Jewell, Mark T., Journal of Property Management

Nearly 90 percent of the estimated five million commercial buildings in the United States are more than 15 years old. Consequently, during construction of these buildings, builders could not take advantage of the energy-efficient technologies now standard.

Today, builders, owners and property managers are paying close attention to the kind of value they can obtain by implementing energy-efficient strategies. They're considering everything from water conservation and wind energy to electrical product upgrades and solar panels. The Hines organization is one real estate firm committed to conserving energy in its owned and managed office buildings. Recently, it was recognized by Energy Star [R] for outstanding energy conservation in nine of its Houston-based office buildings and 33 properties in 18 other cities.

"When the Hines organization committed itself to energy conservation, we immediately set out to be a leader," said Jeffrey C. Hines, president of Hines.

Companies like Hines are recognizing that specific strategies must be developed and implemented to combat the growing demand for energy. According to the Energy Information Agency's Annual Outlook for 2002, higher demand for energy and increased production will characterize the United States' future.

The report predicts continued growth in electricity use through 2020. Growth rates are expected to reach 1.7 percent per year in the residential sector. In the commercial and industrial sectors, annual growth rates should reach 2.3 percent and 1.4 percent, …

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Publication information: Article title: Power Surge: Fueling Your Bottom Line with Energy Efficiencies. Contributors: Jewell, Mark T. - Author. Magazine title: Journal of Property Management. Volume: 67. Issue: 3 Publication date: May 2002. Page number: 54+. © 1999 National Association of Realtors. COPYRIGHT 2002 Gale Group.

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