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Philadelphia Joins Seattle and Other Cities with Benchmarking Requirements

Philadelphia, PA recently joined the growing number of places (including Seattle) with benchmarking requirements. It requires energy benchmarking and disclosure for all commercial buildings larger than 50,000 square feet, set to take effect June 1, 2013. Read the IMT Press Release to learn more about Philadelphia’s new law.

 Seattle’s benchmarking law was passed in early 2010, with the first buildings (over 50,000 square feet) reporting last October. Buildings under 50,000 square feet have until at least this October to report.

 There are many benefits of benchmarking, including:

  • Track and assess the energy performance of buildings
  • Target priority energy-efficiency improvements
  • Partner with utilities to implement energy-efficiency projects—some of which may qualify for financial incentives, or be low or no-cost
  • Track improvements on an ongoing basis
  • Become more competitive in the real estate market-place. Energy-efficient buildings:
    • Cost less to operate;
    • Have higher net operating incomes (NOI);
    • Have greater asset values;
    • Have better tenant retention and acquisition.

Find out more about some of Seattle’s success stories so far.

 Other places with benchmarking requirements include New York City, Washington, DC, San Francisco, Austin, Washington State, and California State. Portland, OR and Massachusetts have policies under consideration.