Uncover Savings for Your Condo or Co-op Association with an Energy Audit

The rise in utility costs is a significant concern for condo and co-op associations, often leading to increased homeowner fees. However, in a competitive real estate market, properties that proactively manage energy efficiency can offer lower operational costs, keeping fees manageable and attracting more buyers. The solution? Energy audits. By examining your building’s energy consumption, these audits reveal inefficiencies and offer actionable improvements, some of which are budget-friendly.

Understanding Energy Audits

An energy audit, sometimes called an energy assessment, evaluates your building’s infrastructure to pinpoint areas where energy is wasted and spot opportunities for upgrades. Conducted by certified professionals trained in energy efficiency, these audits are crucial for identifying cost-effective improvements. Choose an auditor familiar with the specific needs of condo and co-op buildings, often recommended by your property management company.

What to Expect from an Energy Audit

The depth of an audit varies, with more detailed assessments typically costing more. However, even a basic audit should include a review of your operations and maintenance practices, ensuring systems perform as designed. Simple tweaks can lead to significant energy and cost reductions.

In cities with mandatory audits every ten years, basic audits provide an overview of a building’s energy inefficiencies. Otherwise, starting with a less detailed, cost-effective audit can give insights into potential areas for improvement. Depending on findings, a more comprehensive analysis might be needed. Following the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standards ensures a thorough assessment. Here are the typical audit levels you can choose from:

ASHRAE Level 1: This preliminary audit uses benchmarking scores, utility bills, and BTU calculations per square foot of your building to assess energy use. The auditor also conducts a walkthrough to suggest low- and no-cost improvements, as well as larger capital projects. The findings, along with potential savings, are outlined in a concise report.

ASHRAE Level 2: Common for larger buildings, this audit includes all elements of a Level 1 audit plus a detailed onsite evaluation, equipment inventory, and financial analysis of recommended changes, resulting in a more comprehensive report.

ASHRAE Level 3: Designed for complex industrial and commercial buildings, this audit provides precise savings estimates for major capital projects, which are usually unnecessary for condo or co-op associations.

Take Advantage of Energy Audit Savings Programs

Some utility companies offer free audits or cover part or all audit costs. Contact your utility provider to learn more about available programs.

A properly conducted energy audit equips associations with realistic strategies to reduce energy usage and costs. Work with a knowledgeable property management company to find an apt energy professional to conduct your audit.