Multifamily Energy Resources Overview
Multifamily buildings use more energy per square foot of living space than single-family homes. This is mainly because more people are using energy-intensive resources like hot water. As energy costs increase along with square footage, it becomes even more important to make your multifamily housing as energy efficient as possible.
The good news: energy-saving improvements can reduce energy use in many multifamily buildings by 30%1 and improve tenant comfort. The savings can be substantial. For example, reducing energy use by 15% in a typical 250-unit master-metered community will increase net operating income and can enhance asset value by over $1 million (using a 6% capitalization rate). In a similarly sized individually metered community, these same savings may increase asset value by over $200,000 annually.
Sources: 1U.S. Department of Housing and Urban Development | 2ENERGY STAR®
How We Can Help ➞
Your Connecticut properties can take advantage of several energy efficiency and renewable energy programs available through the Energize Connecticut℠ Sponsors. You can benefit from cash incentives, financing options and from the full-service energy efficiency Multifamily Initiative.
To find smart energy options that are right for you, please visit our Explore Solutions page or see a list of popular choices below.
Available Programs for Multifamily Building Owners and Managers ➞
Incentives ➞
Incentives can help you offset the costs of installing high-efficiency gas or clean energy water heater systems that will cut energy costs for your business.
Financing ➞
Multifamily Property Loans
Energy efficiency upgrades on multifamily buildings or complexes with five or more units, completed through the Multifamily Initiative, may qualify for incentive funding and financing options to cover the project costs. Loans start as low as 0% with on-bill financing for housing authorities, and interest rates beginning at 1.99% for other qualifying participants, depending on the financing program.
