Money for Landlords Ending Energy Waste


New York landlords are getting some green incentive to "go green" - a portion of $1 billion in new mortgages or refinancing to fix wasteful energy and water systems in their buildings, reports The New York Times.

The Community Preservation Corporation, a 35-year old non-profit lender, is offering the credit to small building owners and those properties receiving public subsidies. The initiative is built on the assumption that the savings realized from retrofitting a building will be large enough to cover the loan, perhaps with profits left over.

Rather than install new-fangled green technology the first order of business is to identify, and then correct, flaws in a building that contribute to wasteful energy use. The changes made allow older buildings to remain viable as well as valuable for both tenants and owners. Proposed New York City regulations would require annual energy audits and benchmark efficiency for buildings, or, owners risk fines.

Great for New Yorkers, but are similar sorts of programs are available elsewhere?