Energy Efficiency, Green Retrofits and ROI: The Empire State Building

Real Estate, Land Use & Construction Law

Energy Efficiency, Green Retrofits and ROI: The Empire State Building

Jan 29, 2010 | Real Estate, Land Use & Construction Law

Empire State Building in Spring The Empire State Building retrofit project is reaching for rarefied air: improved energy efficiency, reduced carbon emissions, and rapid and healthy return on investment. Recent case study documentation for the project suggests this project will hit the ball out of the bark on all fronts. Highlights include:

An estimated 38% energy savings compared to high level class A office space

A 3.1 year payback on the incremental cost increase to fund proposed energy efficiency measures

  • An 9.2% estimated tenant space savings when increased project costs are weighed against the net present value of energy savings to tenant space fit-outs
  • Reduction of well over 100,000 tons of CO2 emissions over 15 years

This project concept directly touches on the concepts of energy efficiency, performance and return on investment that formed the backbone of the recent Trends in Building Green seminar we discussed here. The Empire State Building project also serves as not only a model, but a potential market game changer and advances many of our predictions for this next building cycle .

On a personal note, I spend a lot of work time looking “green” issues from a contracts, client or risk management perspective. I spent a lot of personal time thinking about sustainability for its own sake in the context of raising a family and working towards a sustainable future economically and environmentally. I like environmental sustainability for its own sake, but I love when creative and motivated people fuse the moral high ground with economic success.

Image by Amitmogha

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