29 Nov Local Law 84/133 Benchmarking – Deadlines Extended

Benchmarking measures a building’s Energy and Water use to establish a baseline from which to measure all future improvements. The metrics of a benchmarked building are compared against similar buildings throughout the United States to produce an ENERGY STAR Benchmarking “rating.” The resulting metrics are also used to calculate a building’s greenhouse gas emissions.

If you have a building in New York City that is 25,000 square feet or larger, you are required to benchmark your building’s energy consumption. This mandate was instituted in 2016.

Why Should I Benchmark My Building?

• Compliance with Local Laws – Energy Benchmarking is an important aspect of Local Law Compliance in New York City and New York City Local Law 84. New York City Local Law 133 mandates Energy Star Benchmarking.
• Increase Profitability by Being Energy Efficient – Energy Benchmarking tells a building owner about their Energy Usage. It is a key step in identifying opportunities to increase profitability by lowering energy and operating costs.
• Effective Management by Measuring Energy Usage – Through benchmarking, the key metrics for assessing performance are identified, baselines are established, and goals are set. This process helps to identify the key drivers of energy use and provides an important diagnostic tool for improving performance.
• Make Smart Energy Investments – By evaluating trends and variability in energy use, benchmarking can improve management decisions on investments in energy-related projects. Developing a historical perspective on current and past energy use provides a context for those decisions.

Understanding the Steps Involved in the Energy Benchmarking Process

Both NYC Local Law 84 and 133 require property owners to perform energy benchmarking. But how does this process work exactly?

Two data sets form the basis of benchmarking: internal and external. Internal data such as historical energy and water consumption help uncover irregularities within your portfolio. This consists of the actual usage and archival records of properties that share similar features to those in your portfolio. 

Tools such as ENERGY STAR Portfolio Manager can also be used to collect external data. Combining internal and external data sets provides businesses and property managers with data points to make the best energy management decisions.

Verification of energy benchmarking comes into play after you have obtained the data. Make sure your data is accurate and reliable. Some steps include:

• Look for data regarding excessively high or low energy use intensity (EUI) values for your buildings as compared to normalized data.
• Conduct onsite verification.
• A random sampling of utility meter data
• Setting up and following a protocol for filling the gaps, as not all data is ever going to be perfect
• Refer to the baseline, i.e., monitor the energy use of your building against its own past performance.
• Make use of energy management software to check how your building’s energy performance stacks up against what your building should be doing.
• If you are responsible for multiple buildings, compare how each one of them performs compared to others in your portfolio.

An Overview of the Energy Benchmarking Report

Property owners need to submit an energy benchmarking report on the Local Law 84 and 133 deadline. This specific document provides a thorough appraisal of a building’s energy usage in comparison to similar structures, delivering invaluable insights into performance and chances for advancement.

Such a report typically contains these major components:

• Energy Usage Data: Thorough data on the building’s total energy expenditure, often separated by type (electricity, gas, water, etc.), furnishes a clear image of where and how energy is utilized within the property. 
• Comparison Metrics: The NYC Energy Benchmarking report matches the building’s energy efficacy against a set of benchmarks. These could be industry averages, historical data of the building itself, or benchmarks from structures of similar size, type, and geographic location.
• Performance Ratings: Numerous benchmarking tools offer rankings or scores that summarize the building’s energy efficiency. These ratings can help property managers comprehend their building’s performance at a glance and contrast it against peers or criteria, such as the ENERGY STAR score in the United States.
• Recommendations for Improvement: Perhaps the most practical component is the part offering suggestions. This section outlines distinct suggestions for energy-saving measures. These could be some simple behavioral changes on the part of the building users. But the measures can also be major equipment upgrades or retrofitting initiatives.
• Financial Analysis: This report often includes a financial appraisal, shedding light on the likely cost savings from implementing the recommended actions for enhancing energy usage. It will also highlight payback periods and include calculations related to return on investment. 

You should submit an energy benchmarking report by the specified deadline every year to avoid penalties imposed by Local Law 84 and 133. 

Make a smart investment by investing in Energy Benchmarking with The Cotocon Group. We at The Cotocon Group hold 10 years of Energy Expertise with a proven track record of Accurate Benchmarking Reports, timely compliance, Detailed insights, and result result-oriented approach. We help building owners by Benchmarking their buildings and easy compliance with Local Laws.

Get in touch with us today!