HUD Launches Multifamily Energy-Efficiency Program
Building on $2 billion in financing commitments from the private sector for energy-efficiency updates to commercial buildings under the President’s Better Buildings Challenge, HUD recently expanded the challenge to multifamily housing and launched the Better Buildings Accelerators to support state- and local government-led efforts to cut energy waste and eliminate market and technical barriers to greater building efficiency.
The program goal is to increase energy efficiency in buildings by at least 20 percent by the year 2020. Fifty multifamily housing partners, representing roughly 200,000 units, have committed to the challenge. HUD and the Department of Energy are partnering with owners of market-rate multifamily housing, public housing authorities, low-income housing tax credit property owners, and HUD-assisted multifamily property owners.
The multifamily housing partners will create strategies to increase energy efficiency in a variety of ways, including through lighting improvements, heating and cooling system upgrades, rooftop solar installations, new financing for energy retrofits, and green construction. Their goal is to reduce energy consumption by at least 20 percent during the next 10 years.
Those participating in the challenge commit to developing an energy reduction plan within six months of joining the program, announcing publicly a showcase project and initiating that project within 12 months, and sharing information about the results of their efforts, among other things.