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June Program Newsletter

Multifamily Program News

Secure your spot in the program today!

Since January of this year, the Multifamily Upgrade Program has supported increased efficiency, safety, and comfort in more than 3,300 units. The program is first-come, first-served, and we are ready to work with you on projects planning to complete in 2017, as well as projects planned for the future. If you submit an interest form today, we will ensure that your project is prioritized for incentive opportunity.
To secure incentives for your properties, and receive help with benchmarking your portfolio, click here to submit an interest form. To find out more about program offerings, visit our website at www.multifamilyupgrade.com

Industry News

Competition from new properties? An energy efficiency retrofit can help you stand out. 

Exterior-Multifamily1Northern California continues to produce steady job and population growth, and construction of new apartments and condos are following suit. In the City of San Francisco alone, there are 63,000 units slated for new construction. In downtown Sacramento, there are 13,000 units planned or in development. How do older properties compete with newly construction properties such as these?

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Energy Savings Tips

Water and Energy Savings Nexus

The drought may be over, but water cost control should still a priority for California property owners. As we approach the heat of summer, water use due to landscaping, pools, and spas increase, and so do water and sewer costs. In addition to the cost of water, the energy used to heat water—15% of utility bills on average—presents an opportunity for multifamily properties to conserve water and reduce spending on both water and energy. Click below to find out how your property can take control of water costs.

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Equipment Explainer

Solar Thermal: What is it and how can it help your property?

As the prices for solar panels drop and government tax credits stay high, solar photovoltaic (PV) systems are as popular as ever. But did you know that there is another type of solar technology that can reduce your water heating bills? While solar PV converts the energy of the sun’s rays into electricity, solar thermal technology works by capturing and transferring the heat of the sun to your hot water supply.

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Solar Thermal: What is it and how can it help your property?

As the prices for solar panels drop and government tax credits stay high, solar photovoltaic (PV) systems are as popular as ever. But did you know that there is another type of solar technology that can reduce your water heating bills? While solar PV converts the energy of the sun’s rays into electricity, solar thermal technology works by capturing and transferring the heat of the sun to your hot water supply. Transferring the sun’s energy into heat is more effective than generating electricity, so when you consider the overall investment, solar thermal systems provide a greater return, often with reduced investment compared to what a solar photovoltaic system would cost. A solar thermal water heating system can help reduce your property’s carbon footprint and utility bill, and by combining federal tax credits and PG&E rebates, solar thermal may be a cost-effective water heating option for your property.

Continue reading Solar Thermal: What is it and how can it help your property?

Water and Energy Nexus

The drought may be over, but water cost control should still a priority for California property owners. As we approach the heat of summer, water use due to landscaping, pools, and spas increase, and so do water and sewer costs. In addition to the cost of water, the energy used to heat water—15% of utility bills on average—presents an opportunity for multifamily properties to conserve water and reduce spending on both water and energy. The following are three ways in which your property can take control of water costs.

Continue reading Water and Energy Nexus

Competition from new properties? An energy efficiency retrofit can differentiate your property.

Northern California continues to produce steady job and population growth, and construction of new apartments and condos are following suit. In the City of San Francisco alone, there are 63,000 units slated for new construction. In downtown Sacramento, there are 13,000 units planned or in development. How do older properties compete with newly construction properties such as these? Performing some basic research and positioning your marketing messaging around environmentally friendly amenities can help set you apart from the competition.

Continue reading Competition from new properties? An energy efficiency retrofit can differentiate your property.

Finding Value Beyond the Energy Bill Savings

Why whole-building energy efficiency upgrades pay off—even when residents pay their own energy bills.

If residents pay their own electricity bills, how does the building owner benefit from energy efficiency upgrades?

This question illustrates a common misconception about multifamily energy upgrades called split incentives. The solution is simple: comprehensive upgrades through Pacific Gas & Electric’s (PG&E) Multifamily Upgrade Program offer a total value that goes beyond energy bills.

Three ways energy upgrades pay outside of energy and cost savings:

Higher rents, higher net operating income: Energy-efficient buildings can command higher rents that can translate to a higher net operating income for building owners. For example, after completing an extensive retrofit, a 93-unit property near Sacramento, California recently raised its rents from $.65 to $1.00 per square foot—nearly 53 percent—boosting NOI and offsetting rising rent costs with energy cost savings.

Higher property values: According to a report by the Energy Cost Savings Council, every $1 invested in retrofit measures can increase a property’s value by $3. Other factors indicate that the market is placing value on energy efficiency, too, including new legislation that requires multifamily buildings to benchmark, and new property appraisal processes that incorporate energy efficiency into valuations.

Lower vacancy and turnover rates: With better comfort and health, fewer nuisances, and in some cases, nicer, newer appliances, energy-efficient buildings tend to have higher resident satisfaction. Happier residents typically stay put, keeping your units full, revenues high, and bottom line healthy.