Trends To Go Green In Multi-Tenant Buildings

Office buildings, retail shopping centers and apartment buildings are the kinds of multi-tenant buildings that are well suited for green energy. These types of building have many challenges, not least being the energy demands it must meet for a wide range of tenants. The demands of a multi-tenant building are very different from those generated by a private home. As such, going green in a multi-tenant building can have a huge effect on your bottom line profits by significantly cutting your energy costs.

Becoming a Green Building

Many businesses are vying to become green, both for environmental reasons, as well as to please their clients. New buildings are easier to build with an eye on green issues, including newer forms of insulation and newer construction techniques to reduce energy demands.

For virtually all buildings, energy companies can install green energy technology to allow you to produce your own electricity and heat. With technologies ranging from solar heating tubes to solar panels and wind turbines, they add the hardware necessary to capture energy and transfer it back into the building. Installation of each of these is done on the roofs of most buildings, with very little expense to the building owner.

Many new businesses look for green buildings to move into; those that are green may have a lower vacancy rate and have an easier time attracting new tenants at more favorable rents.

Can Older Buildings Go Green?

Absolutely! Existing structures are incorporating green energy every day. Apartment buildings, office buildings and retail locations are all upgrading to green energy - both for the environmental impact as well as the cost savings. By retrofitting with solar panels, solar heating tubes and wind turbines, virtually any building can integrate new energy technologies to reduce its monthly energy expenses.

Green Energy Tax Incentives

There are tremendous incentives for multi-tenant buildings to go green - even larger than the incentives available to homeowners! The federal government is now making it financially advantageous to buy and install green energy systems such as solar PV systems, solar heating tubes and wind turbines. The federal government will pay 30% of the cost of your new system through tax credits. State and local goverments also have incentive programs, as do utilities. On top of this, the federal government allows the multi-tenant builds to depreciate the systems on an accelerated curve. With all of these incentives, your break-even on the system is generally 3-5 years. After that, it is pure clean energy profits.

Competitive Advantage of Offering Green Office or Green Business Space

If you are looking to rent out office space in a building you own, or you want to rent out apartments in an apartment block, you should certainly think about going green as a way to attract more tenants with higher rents.

By go green, you will be offering a valuable feature to tenants who are environmentally sensitive, looking to move into a building offering renewable energy sources. Many tenants want to do their part in helping the environment, and by offering them space with a reduced carbon footprint, you give yourself an advantage over your competition.