The energy to operate commercial buildings costs about $200 billion every year. And on average, 30% of this energy is wasted. The U.S. Department of Energy’s Better Buildings Challenge aims to engage building operators nationwide in improving energy efficiency by 20% by 2020. The brilliant part of this initiative, announced by President Barack Obama and former President Bill Clinton, is that it was been achieved through strategic partnership and does not require the approval of the Republican Congress.
“Upgrading the energy efficiency of America’s buildings is one of the fastest, easiest, and cheapest ways to save money, cut down on harmful pollution, and create good jobs right now,” observed President Obama. “But we can’t wait for Congress to act. So today, I’m directing all federal agencies to make at least $2 billion worth of energy efficiency upgrades over the next 2 years – at no up-front cost to the taxpayer. Coupled with today’s extraordinary private sector commitments of $2 billion to upgrade businesses, factories, and military housing, America is taking another big step towards the competitive, clean energy economy it will take to win the future.”
1.6 Billion Square Feet Committed
$2 Billion in Financing through Allies
+300 Manufacturing Facilities
The $4 billion challenge is the latest move the Obama administration has made as part of its “We Can’t Wait” campaign to bypass a deadlocked Congress and spur job creation, even as the President pushes lawmakers to pass a $447 billion jobs bill.
We’re proud to say that Los Angeles is one of an elite group of communities, companies, universities and organizations working to improve their bottom line by saving energy.
Mayor Antonio Villaraigosa and the City of Los Angeles have launched the Los Angeles Commercial Building Performance Partnership to support development and financing of comprehensive energy efficiency and water efficiency upgrades in commercial buildings.
Los Angeles expects approximately 30 million square feet of commercial property to be audited, using $3.2 million in Recovery Act funds with the goal of driving at least $25 million in total investment during their partnership in the Better Buildings Challenge.
The initiative is part of the California Energy Commission’s Energy Upgrade California program, a statewide effort to roll out a network of utility-incentive packages, pilot innovative financing approaches.
Since June 2011 LA County has imitated energy audits for more than 25 million square feet of commercial space — from small neighborhood retailers to downtown skyscrapers. Additionally we are developing a directory of capital providers to facilitate access to project funding options.
“Investments in building retrofits and energy efficiency can make a real difference in the American economy, by creating jobs, growing our industries, improving businesses’ bottom lines, reducing our energy bills and consumption, and preserving our planet for future generations,” concludes President Clinton. “I am proud so many members of the Clinton Global Initiative have joined this Challenge. Working together, I am pleased the commitments to the BBC have grown from the initial $500 million and 300 million square feet that we announced in June at CGI America, to the $2 billion investment with over 1 billion square feet of retrofitted space.”