Energy Benchmarking and Disclosure for Commercial Property: New State and Local Mandates Implications for Construction, Sale, Leasing and Operation of Commercial Buildings Today’s faculty features: 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions emailed to registrants for additional information. If you have any questions, please contact Customer Service at 1-800-926-7926 ext. 1. THURSDAY, MAY 10, 2018 Presenting a live 90-minute webinar with interactive Q&A Brad A. Molotsky, Partner, Duane Morris, Cherry Hill, N.J. Dana Schneider, Managing Director, Jones Lang LaSalle, New York Jeannie Renne-Malone, LEED AP, ENV SP, GGP, Vice President, Sustainability, Prologis, Denver Jayson Antonoff, Associate Technical Director, Institute for Market Transformation, Washington, D.C.
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Energy Benchmarking and Disclosure for
Commercial Property: New State and Local
MandatesImplications for Construction, Sale, Leasing and Operation of Commercial Buildings
Today’s faculty features:
1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific
The audio portion of the conference may be accessed via the telephone or by using your computer's
speakers. Please refer to the instructions emailed to registrants for additional information. If you
have any questions, please contact Customer Service at 1-800-926-7926 ext. 1.
THURSDAY, MAY 10, 2018
Presenting a live 90-minute webinar with interactive Q&A
Brad A. Molotsky, Partner, Duane Morris, Cherry Hill, N.J.
Dana Schneider, Managing Director, Jones Lang LaSalle, New York
Jeannie Renne-Malone, LEED AP, ENV SP, GGP, Vice President, Sustainability, Prologis, Denver
Jayson Antonoff, Associate Technical Director,
Institute for Market Transformation, Washington, D.C.
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Energy Disclosure Mandates – State and Local
Impact on Commercial Real Estate
May 10, 2018
www.duanemorris.com
Overview of Today’s Presentation:
*Source: New Frontier
• Introductions
• States and Municipalities with Mandates
• Numerics regarding Energy Star, Well and LEED
• 179D and has it worked?
• Owners – have they embraced energy efficiency?
• Tenants – have they embraced energy efficiency?
• What is next for energy efficiency?
• Q/A from the audience
6
Today’s Presenters – Who Are You?
– Jayson Antonoff – Institute for Market Transformation
– Brad A. Molotsky, Esquire – Duane Morris LLP
– Jeannie Renne-Malone, Prologis
– Dana Schneider, Jones Lang LaSalle
7
Today’s Presenters – Who Are You?
Jayson Antonoff – Institute for Market Transformation
8
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State and Local Mandates - Buildings
Matter!
Costing more than $450 billion annually
America’s buildings use more energy
than any country in the world besides
China and the United States
12
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Energy Benchmarking and Transparency
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Benchmarking and Transparency
14
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Cities are Focusing on Buildings
Providing solutions to market barriers by collecting and making available energy performance data to real estate markets
Helping building owners prioritize energy efficiency by effectively communicating opportunities for improvement
Working with utilities and efficiency administrators to offer efficiency programs
Using real, current, local data in city climate and energy planning
15
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Current Policy Landscape for Cities
16
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Buildings that are required to consistently benchmark their
performance demonstrate strong energy savings
DC
9% (2010-13)
Chicago
10% (2010-15)
San Francisco
7.9% (2010-14)
New York City
6-14% (2010-14)
$267 million in cumulative
savings
Demonstrated Energy Savings
17
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Building Scorecards
City of Seattle City of Philadelphia
18
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Seattle’s Data Visualization Site
19
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Physical Building Labels
20
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Benchmarking and Transparency
21
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Why Should Real Estate Professionals Care?
Due diligence – energy and water performance will have a +/- impact on property desirability and valuation
In some markets, buildings that are performing below certain levels may be required to take additional steps, such as completing an audit or retrocommissioning
Legal requirement – failure to be in compliance could carry risk of fines, loss of certificate of occupancy, or other ramifications
22
179D – Has it Worked and if not why not?
• What is it?
• Why wasn’t it used?
• Still viable?
23
Owners – Have they embraced EE?
– Who?
– Where?
– All product types?
– Does Size Matter?
– Does mandatory benchmarking matter?
24
Tenants – Do they care? Yet?
– Who?
– Where?
– All product types?
– Does Size Matter?
– Does mandatory benchmarking matter?
25
What is on the horizon for Energy Efficiency?
• Solar for buildings?
• CHP?
• Ice Storage?
• IoT?
• Interplay with WELL building and need for more ventilation?
26
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