As a property owner, you’re always looking for ways to cut costs without compromising the quality of your building for tenants. One way is reducing energy consumption. But how do you know what’s a reasonable goal? Ever wish you could just sneak a peek at your neighbor’s utility bills to see how you stack up against the area?
Benchmarking your commercial building’s energy performance can help you assess where and how you’re using your energy. And tracking your energy use over time provides property owners with the information to make strategic business decisions, increase operational efficiency, prioritize projects and investments and create value.
There are a variety of performance tracking tools on the market. One is Energy Star’s Portfolio Manager, a free EPA tool that is used by over 300,000 properties.
When tracking and benchmarking your building’s energy output, there are a few key items you want to focus on.
- Establish a performance baseline for any facility. Now you’ll have a benchmark to compare future progress too.
- Identify unsatisfactory performance. There any particular operations where energy was unnecessarily wasted? Identifying problem areas can help you find solutions.
- Normalize for weather and operational parameters. Perhaps your building houses medical facilities that make use of MRIs. Or a corporate office may operate a fitness center. Accounting for operational parameters can help identify appropriate benchmarks of energy usage for your building.
- Track utility costs. Compare them back to your baseline to see if you’ve made any changes.
- Implement changes. Document improvement and always look for areas to improve in.
As an Orlando, Florida building owner you know the importance of protecting your investment with a well-chosen insurance plan from a reputable company. At Newman Crane, we specialize in providing our clients with policies to address the risks specific to a commercially leased property owner. Contact us today for your comprehensive risk management and insurance solutions for your commercial-leased property. (407) 859-3691