10 Energy Benchmarking Laws Every Building Owner Must Know in 2024

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VertPro®, SaaS Technology for Building Owners to Simplify Energy Upgrades & Compliance. VertPro® is a one-stop shop SaaS platform for building owners & managers to comply with every Energy Benchmark law across the United States, in 30 minutes or less. Beyond energy compliance, use VertPro to simplify your energy upgrades and building improvements.
10 Energy Benchmarking Laws Every Building Owner Must Know in 2024
Discover the top energy benchmarking laws building owners must know in 2024 for compliance and efficiency.

I. Introduction

Energy benchmarking has rapidly ascended from a niche concept to an essential strategy in the realm of property management, especially as concerns regarding climate change and resource conservation intensify. For building owners, adhering to energy benchmarking laws is more than a commitment to environmental stewardship; it's a regulatory requirement that, when approached with diligence, can lead to substantial cost savings and operational efficiencies. This blog post delves into the critical energy benchmarking laws that will shape the responsibilities of building owners in 2024, highlights their significance, and equips readers with an understanding of how to navigate these regulations effectively.

 
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II. What is Energy Benchmarking?

At its core, energy benchmarking is a systematic process where a building's energy consumption is measured, its performance tracked over time, and its efficiency compared against similar structures or standards. This analysis is essential not just for identifying opportunities for improvement but also for setting a baseline to gauge the effectiveness of any energy-saving measures implemented. It's a cornerstone practice within any robust Energy Management Program, integral to the broader goals of enhancing energy efficiency and reducing environmental footprints.

III. Importance of Energy Benchmarking Laws

IV. The Top 10 Energy Benchmarking Laws in 2024

1. Federal Energy Management Program (FEMP)

2. Energy Policy Act

3. Energy Independence and Security Act

4. Clean Energy Act

Owners must be particularly vigilant about the implications of the Clean Energy Act. With this act's push towards renewable energy, owners could face mandatory integration of renewable energy systems, support for which may be offset by government incentives and grants.

5. Building Energy Performance Standards

6. Local Law 84 - Benchmarking

7. Local Law 33 - Energy Efficiency Ratings

This law requires buildings to publicly display their energy efficiency grades, pushing transparency to the forefront and potentially affecting a building's competitive edge and market value.

8. State Energy Efficiency Resource Standards

9. The Green New Deal

Although it spans beyond just energy benchmarking, The Green New Deal proposes comprehensive legislative action to address climate change and environmental degradation. Its far-reaching goals would likely encompass stringent energy benchmarking regulations, creating a more demanding landscape for building owners.

10. Residential Energy Conservation Ordinance

These localized ordinances are gaining popularity as they enforce energy audits and the implementation of conservation measures, especially at times of property sale or lease turnaround, making energy benchmarking a critical facet of the real estate industry.

V. The Role of Building Owners in Complying with these Laws

Building owners must navigate a complex web of responsibilities when it comes to energy benchmarking laws. Ensuring compliance goes beyond mere data collection; it requires a commitment to evaluating performance, investing in upgrades, and keeping meticulous records. Non-compliance is not a viable option, as it can lead to penalties, strained relations with stakeholders, and reputational damage. A proactive approach to understanding and adhering to each Benchmarking Law is imperative for maintaining compliance and reaping the associated benefits.

VI. Tools and Resources for Energy Benchmarking

To assist building owners, a suite of tools and resources is available to streamline the benchmarking process. Software platforms, such as the EPA’s ENERGY STAR Portfolio Manager®, offers a user-friendly interface for tracking and managing energy and water consumption. For those seeking more personalized assistance, professional consultants and energy auditors can provide bespoke services to ensure accurate benchmarking and compliance.

VII. Conclusion

In conclusion, the landscape of energy benchmarking laws is an ever-evolving field, reflective of the world's accelerating shift toward sustainable practices. Its increasing stringency in 2024 will necessitate building owners to become ever more engaged with the energy profiles of their properties. By embracing these regulations, owners will not only sidestep penalties but also benefit from increased property values and reduced operational expenditures. The trajectory towards a greener future is clear, and benchmarking laws are essential indicators of the progress in the building industry.

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