A MUP participating contractor since 2016, Bright Power is a leading provider of energy efficiency, renewable energy, and energy management solutions for the real estate industry. They use their Find-Fix-Follow approach to Find the best opportunities across a real estate portfolio, deploy the Fixes on specific assets, and Follow to ensure long-term value, always optimizing for their clients’ financial and sustainability goals.
Home energy management systems (HEMS) allow for monitoring, measuring, and controlling multiple end uses including appliances, HVAC, hot water equipment, and plug loads throughout the home. Note, HEMS can refer to a standalone technology, such as a singular smart thermostat, or a suite of interconnected components. A HEMS provides homeowners a high degree of control over energy use in the home, and allow homebuilders to market units as energy efficient and green.
Energy efficiency, through lower utility bills, is an investment with both immediate and long-term rewards. To encourage energy efficiency retrofits, some financial institutions started creating financing options specifically for multifamily property owners who are looking to invest in their properties.
Earlier this year, the United States Congress voted to extend the Energy Efficient Home Credit, i.e. the 45L tax credit, to developers of energy efficient homes and apartment buildings. The credit is $1,000-$2,000 per dwelling unit for housing construction that is significantly more energy efficient than national energy standards. Given California’s aggressive building code, which often exceeds the national standard, MUP recommends all builders who meet the following eligibility criteria research claiming the credit.