Introduction To Benchmarking Metrics

Building energy benchmarking is a systemic and continuous process of reviewing a building’s energy consumption. It facilitates building owners’ identification of poorly performing buildings, establishes a baseline for measuring improvement, and encourages a competitive spirit. Moreover, it is the first step that building owners can take to strategically reduce energy consumption and Greenhouse Gas emissions from their buildings and ultimately comply with the more stringent Local Law 97.

Many tools have been developed for energy benchmarking. For example, Local Law 84/133 requires building owners to use ENERGY STAR Portfolio Manager for data submission. ENERGY STAR Portfolio Manager analyzes energy and water consumption and carbon emissions for a whole building. If building owners are interested in their building’s energy performance in depth, they need to conduct energy auditing and commissioning, and this type of study requires certified professionals to manage.

Overview of NYC Local Law 84 

Enacted in 2009, Local Law 84 stipulates that all structures spanning 50,000 square feet or more—and collections of buildings consolidated on a single lot exceeding ten thousand square feet—must participate in yearly energy benchmarking. This legislative provision constitutes a crucial component of the broader Greener, Greater Buildings Plan, an initiative conceived to significantly boost energy efficiency across New York City’s vast building stock. Approximately sixteen thousand structures fall under the auspices of this pivotal law.

Expansion with NYC Local Law 133

In 2016, Local Law 133 revised LL84 to incorporate mid-sized structures between 25,000 and 50,000 square feet. This expansion included roughly eleven thousand additional buildings to the benchmarking mandate, reinforcing New York City’s dedication to sustainability. 

Like LL84, property owners subject to LL133 are required to submit their energy and water usage information each year through the ENERGY STAR Portfolio Manager. Their reports also include their ENERGY STAR score along with greenhouse gas (GHG) emissions. A score of 75 or above makes buildings eligible for ENERGY STAR certification—a valuable feature in the leasing market as it shows lower operating expenses and decreased GHG emissions. 

What is Benchmarking? 

Benchmarking entails evaluating an organization’s processes and performance indicators in comparison to those of top industry players or best practices. It functions as a means for pinpointing areas needing enhancement, establishing achievable objectives, and maximizing overall efficiency. Essential aspects usually evaluated consist of quality, time, and expenses, enabling companies to comprehend their position in the competitive environment. 

In terms of energy usage, benchmarking is essential for assessing the performance of buildings compared to similar ones. This comparison not only emphasizes shortcomings but also promotes a culture of ongoing enhancement among property owners. 

The Importance of Benchmarking Metrics in Energy Efficiency 

Benchmarking metrics fulfill various essential roles in enhancing energy efficiency: 

• Recognizing Inefficiencies: By analyzing performance metrics alongside comparable structures, owners can identify specific areas that need enhancement. 
• Setting Baselines: Benchmarking creates a baseline for energy use that future enhancements can be evaluated against. 
• Stimulating Competition: The competitive aspect of benchmarking drives property owners to improve the performance of their buildings. 
• Adhering to Regulations: Ongoing benchmarking guarantees adherence to local regulations like LL84 and LL133, aiding in the avoidance of penalties linked to non-compliance.

Results of Non-Adherence 

Moreover, structures that fail to comply with GHG emission thresholds outlined by Local Law 97 could face additional expenses of $268 for each metric ton of surplus carbon dioxide released each year. Therefore, proactive benchmarking helps ensure compliance while also reducing financial risks linked to regulatory fines.

Tools for Effective Benchmarking

The main tool required for use according to both laws is the ENERGY STAR Portfolio Manager. This platform allows property owners to efficiently assess their energy and water usage in relation to carbon emissions. Furthermore, performing routine energy assessments and commissioning can yield greater understanding of building efficiency. These assessments assist in pinpointing particular aspects where enhancements can occur, ultimately resulting in lower operational costs and improved sustainability.

Optimal Strategies for Benchmarking 

To fully leverage the advantages of benchmarking in accordance with LL84 and LL133, property owners ought to take into account these recommended practices: 

• Consistent Data Gathering: Make sure that energy and water usage data is gathered regularly all year round to keep precise records. 
• Involve Stakeholders: Include property managers, engineers, and tenants in conversations regarding energy efficiency projects; their perspectives can be extremely helpful. 
• Define Clear Objectives: Create precise aims grounded in benchmarking outcomes to enhance improvements efficiently. 
• Track Progress: Frequently assess performance in relation to benchmarks and modify strategies as needed to reach intended results. 
• Stay Updated: Remain informed about updates in regulations and progress in energy-efficient technologies that may enhance your building’s efficiency. 

Summing Up

NYC benchmarking metrics are crucial for property owners as they manage adherence to Local Laws 84 and 133. These regulations not only enhance energy efficiency but also foster a culture of responsibility and ongoing enhancement among property owners. Utilizing resources such as the ENERGY STAR Portfolio Manager and performing frequent audits, property owners can greatly improve their buildings’ efficiency while supporting wider sustainability objectives. 

As we advance into a time where awareness of the environment is key, recognizing and applying efficient benchmarking methods will be essential for every party engaged in real estate management in New York City. By diligently following these regulations and committing to continual enhancement, property owners can significantly influence the creation of a more sustainable future for cities while enjoying the advantages of lowered operational expenses and increased property worth.