FirstService's Energy Report Cards provide condo and co-op boards and multifamily building owners a window into building energy performance and a roadmap to improve efficiency.
NEW YORK, Nov. 15, 2023 /PRNewswire-PRWeb/ -- FirstService Residential, New York's leading residential property management company, this week released Energy Report Cards for condominium, cooperative, and multifamily rental properties in the company's New York portfolio. Issued annually, the Energy Report Cards provide a detailed analysis of a building's energy performance, including CO2 emissions benchmarked against buildings of similar size and function, and strategies to reduce energy costs, consumption, and emissions.
In New York City, energy costs can comprise 30% of a building's annual budget.
"We recognize how difficult it can be for boards and owners to find energy solutions that make sense for their building, and created the Energy Report Cards to help these clients understand where they are today and how to make real, significant change," said Kelly Dougherty, president of FirstService Energy. "You can't improve what you're not measuring. Knowledge gleaned from the report cards helps our clients make informed decisions on projects and investments that will reduce emissions, costs, and energy use, while also improving resident comfort and avoiding fines."
The Energy Report Cards include a rich presentation of data that illustrates where costs have increased and how a building's facilities have performed over time, as well as pathways to comply with New York City's Local Law 97 emissions reduction requirements. They were developed by FirstService Energy's team of energy experts and sustainability advisors, who maintain historical data of hundreds of residential and commercial properties' energy use, utility costs, and emissions.
"In addition to fulfilling our social responsibility to safeguard the environment, the extensive scale and geographic distribution of our management portfolio presents us with a compelling opportunity to have significant agency over the environmental impact and operating costs of residential communities across North America," said David Diestel, CEO of FirstService Residential. "As local and federal laws aimed at benchmarking and reporting energy performance, reducing emissions, and improving efficiency become increasingly challenging for our boards and building owners, there is an escalating need for our clients to have transparent, actionable data."
Since launching in New York City in 2011, Energy Report Cards have expanded to 850-plus multifamily communities managed by FirstService Residential across North America. This effort supports the company's goal to make efficiency projects a reality, without borders, for clients who seek the betterment of their communities.
FirstService Energy also connects condominium and cooperative boards and building owners with energy incentives provided by local governments and utility companies that offset the cost of efficiency projects. The team has secured millions of dollars in incentives for New York clients including electric vehicle (EV) charging station projects, LED lighting retrofits, elevator upgrades, carbon studies, and steam trap replacements.
About FirstService Residential
FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.
Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial and FirstService Energy deliver additional levels of support.
Boards and developers select FirstService Residential to realize their vision and drive positive change in the communities in their trusted care.
FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.
About FirstService Energy
FirstService Energy is the energy management and sustainability advisory affiliate of FirstService Residential that is leading environmental change by improving energy efficiency and reducing water consumption, ultimately with the goal of reducing operating costs and harmful carbon emissions across FirstService Residential's extensive property management portfolio. Since launching in the New York market in 2009, FirstService Energy has been extending its services to FirstService Residential clients in markets across the U.S. and Canada. The continuation of this portfolio-wide expansion will bring the benefits of the company's sustainability advisory services to positively impact more than 1.8 million residences across 9,000 communities as well as the company's own corporate locations.
SOURCE FirstService Residential