While many owners of older commercial buildings would like to invest in energy efficiency upgrades, many steer clear of significant improvements due to cost concerns. However, the Seattle-based Bullitt Foundation, which focuses on environmentally-conscious programs, is now collaborating with investors, a technology company, and a municipal utility to provide new energy efficiency incentives for older Seattle buildings when the owners make improvements, according to the New York Times.
How Will the Program Work?
Under the foundation’s plan, the owners of older commercial buildings have the potential to receive “new revenue, based on precise measurements of energy savings” if they or investors devote the necessary capital for major efficiency retrofits like replacing furnaces, boilers, or the building shell itself, the article explained. As part this program, Seattle City Light, a municipal utility, agrees to purchase back the energy savings that the building owners receive on a long-term basis and EnergyRM, a company that provides energy efficiency metering services and software-based analytics, will keep track of how much the building owners have actually saved by participating.
A critic in the Times article pointed out that Bullitt Center’s program is essentially an experiment and that many building owners would need to see hard data on how such a program actually plays out before proceeding with it. However, it is promising to see such an innovative incentive being offered to building owners—essentially allowing them to receive revenue from the value of the unused electricity, often dubbed “nega-watts,” after Seattle City Light buys them back for resale.
Kirby Electric Helps Commercial Buildings Increase Energy Efficiency
While the types of upgrades described in this article can certainly boost a building’s energy efficiency, yet another way to increase efficiency is through lighting retrofits, where old light fixtures are replaced with fixtures that save more energy. Kirby Electric helps companies go green by providing energy-efficient lighting and by designing low-energy lighting packages for commercial businesses.
About Kirby Electric
Kirby Electric is a premier Seattle electrical contractor specializing in commercial and industrial electrical contracting. We can help with any electrical needs when it comes to upgrading older buildings, including equipment hook ups, rewiring or relocating panels, and lighting upgrades. We also work with electrical companies like Puget Sound Energy, Tacoma Public Utilities, Lakeview Power and others that will provide a rebate for upgrading to a more efficient lighting upon approval of the project. Contact us today to learn more about our services or to request a quote.