CoStar Webinar Current Trends in Green 20110621
Transcript of CoStar Webinar Current Trends in Green 20110621
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Copyright 2011 CoStar Group, Inc. All Rights Reserved. Although CoStarmakes efforts to ensure the accuracy and reliability of the informationcontained herein, the following information includes projections that arebased on various assumptions by CoStar concerning future events andcircumstances, as well as historical and current data maintained in CoStarsdatabase. Actual results may vary from the projections presented.The information in this presentation is provided as is and CoStar expresslydisclaims any guarantees, representations or warranties of any kind,including those of merchantability and fitness for a particular purpose.
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Webinar Presenters
Anthony Guma, LEED-AP
DirectorCoStar Group, Inc.
Chris Pyke, Ph.D.
Vice President of ResearchU.S. Green Building Council
Copyright 2011 CoStar Group, Inc.
Charles Leitner III
CEO, Greenprint Foundation
Chairman, RREEF
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What We Will Present Today
Chuck Leitner Greenprint Foundation
Chris Pyke Market Update: Energy Efficiency &Existing Buildings
Anthony Guma CoStar Update
Your Questions
Copyright 2011 CoStar Group, Inc.
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Chuck Leitner
Copyright 2011 CoStar Group, Inc.
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REDUCING CARBON. BUILDING VALUE.
What isGreenprintFoundation?
WWW.GREENPRINTFOUNDATION.ORG
Greenprint Foundation is a is a worldwide
alliance of leading real estate owners, investors
and financial institutions committed to reducing
carbon emissions across the global property industry.
A catalyst for change, taking meaningful, immediate andmeasurable actions to generate solutions that improveenergy efficiency and create value in property portfolios.
Greenprints mission is to lead the global real estatecommunity toward value-enhancing carbonreduction strategies that support the
Intergovernmental Panel on Climate Change (IPCC)goals for global greenhouse gas stabilization by 2030.
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REDUCING CARBON. BUILDING VALUE.Benefits of Leadership Participation
WWW.GREENPRINTFOUNDATION.ORG
The Greenprint Indexprovides a consolidated view of itsmembers participating portfolios,detailing their current carbon footprintand providing an importantbenchmark with which to measureprogress in reducing carbonemissions.
Already one of the largest globalmeasurements of real estates carbon
footprint with Volume 1 spanning 36countries and representing 176million square feet (16 million squaremeters) of office, industrial, retail,multi-family and hotel propertiescontaining 35,000 tenants.
Participation in pilot programs
Access to innovative technologies and best operating practices
Increased portfolio values
The following map illustrates the absolute carbon
emissions (Scope 1, 2 and 3), in thousand metric tonnes
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REDUCING CARBON. BUILDING VALUE.Energy Intensity Benchmarking
WWW.GREENPRINTFOUNDATION.ORG
Energy use intensity focuses on energy efficiency and, in most instances,decreasing energy. intensity reduces greenhouse gas emissions. Increasing energyefficiency in design, renovation and operations is the most accessible and potenttool in property owners toolbox to reduce emissions
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REDUCING CARBON. BUILDING VALUE.The Greenprint Foundation Contribution
WWW.GREENPRINTFOUNDATION.ORG
Verdantix Review of Greenprint IndexNovember 3, 2010
"Greenprint Foundations greatest innovation lies with the pragmatic and collaborativeapproach adopted by its member pool."
Greenprint Announces Blackstone, Equity Office Properties and TIAA-CREFAs MembersFebruary 7, 2011
Our growing membership further strengthens Greenprints goal of bringing togetherthe worlds leading real estate owners and managers to share best practices andinvestigate emerging technologies.
Greenprint and NRDC Announce AllianceMay 2, 2011
Greenprint Foundation and the NRDCs Center for Market Innovation (CMI)announce the formation of a strategic alliance to work together towards their sharedgoal of promoting meaningful, immediate, measurable and scalable actions by theglobal real estate community to create value for real estate assets by increasingenergy efficiency and reducing carbon emissions.
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Chris Pyke
Copyright 2011 CoStar Group, Inc.
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Market Update:Energy Efficiency & Existing
Buildings
Copyright 2011 CoStar Group, Inc.
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Overview
Understanding energy efficiency programs
Patterns and trends in energy efficiency overtime and between markets
Correlations with Energy Star certification
Correlations between benchmarkperformance and supporting energy efficiency
strategies Future considerations for energy efficiency in
commercial real estate
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Energy Efficiency
JCI/IFMA/ULI 5th Annual Global Energy EfficiencySurvey of 4,000 building owners (released 6/17):
Energy management is important: 70% ofmanagers
Primary motivation: energy cost savings Average energy reduction target: 12%
>10% energy price increase: expected by 80%
of owners 39% of building owners: plan to pursue green
certifications for existing buildings in the next
year
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Green Building & Energy Efficiency
Energy efficiency is central to the two most
widely-used labels in commercial real estate
US EPAs Energy Star ProgramFocus on energy efficiency
LEED-EB:O&MFocus on six performance areas, includingSustainable Sites, Energy & Atmosphere, Water
Efficiency, Materials & Resources, IndoorEnvironmental Quality, and Innovation
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Energy & LEED
LEED addresses energy performance differently
across the building life cycle: Building Design & Construction
Reduction in cost compared to a code-compliant
baseline
Existing Building Operations &Maintenance
Operational performance relative to an industrybenchmark, Energy Star
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Focus on LEED-EB:O&M
Operational performance assessed during a
1-year performance period Performance scored against Energy Star
benchmark, i.e., 0-100 metric normalized for
climate and other factors based on astatistical sample of US building stock
EAc1: Energy & Atmosphere Credit #1:Optimized Energy Efficiency Performance
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65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95
ProjectCount
Energy Star Score
Energy Star Scores for
LEED-EB:O&M Certified Buildings
Source: USGBC
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StarScore
EB:OM Bldgs - EStar Score EB:OM Bldg Count
LEED-EB: O&M Scores by Market
Source: USGBC
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EStar Bldg Count LEED EB Bldg Count EB:OM Bldgs - EStar Score (avg)
Energy Star and LEED-EB:
O&M Trends
Source: USGBC
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Estar Bldg Count EB:OM Bldg Count
EB:OM Bldgs - EStar Score Estar Bldgs - EStar Score
Comparison of Market Activity
Source: USGBC
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Supporting Green Building Strategies
10 strategies tracked in LEED-EB:O&M EAc2.1: Commissioning Investigation and Analysis EAc2.2: Commissioning -- Implementation EAc2.3: Commissioning Ongoing Commissioning EAc3.1: Building Automation System
EAc3.2: System-level Metering EAc4: Renewable Energy IEQc1.3: Increased Ventilation IEQc2.2: Occupant Controlled Lighting IEQc2.3: Thermal Comfort Monitoring IEQc2.4: Daylight and Views
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0%
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65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95
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mulative%
ofPossiblePoints
Energy Star Score
EAc2.1
EAc2.2
EAc2.3
EAc3.1
EAc3.2
EAc4
IEQc2.2
IEQc2.3
IEQc2.4
IEQc1.3
Source: USGBC
Cumulative % Earned of Possible
Points per Energy Star Score
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Supporting EE Strategies
Group 1 Higher Association EAc2.1: Commissioning Investigation and Analysis
EAc2.2: Commissioning -- Implementation
EAc3.1: Building Automation System
IEQc2.2: Occupant Controlled Lighting
Group 2 Lower Association EAc2.3: Commissioning Ongoing Commissioning
EAc3.2: System-level Metering
EAc4: Renewable Energy IEQc1.3: Increased Ventilation
IEQc2.3: Thermal Comfort Monitoring
IEQc2.4: Daylight and Views
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Conclusions & Near Future
Increasing interest in energy efficiency andoperating cost reduction
Increasing use of energy and emissionsbenchmarks
Emerging policies requiring energy performancedisclosure
Increasing emphasis on automated data collection
and analysis Increasing focus on continuous improvement and
recertification
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Anthony Guma
Copyright 2011 CoStar Group, Inc.
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0%
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40%
Vacancy - LEED Vacancy - All Office
Vacancy 2010 Q1 - LEED Vacancy 2010 Q1 - All Office
Office Vacancy
Vacancy Rate Office Buildings Class A and B 20,000 SF 1990+
Source: CoStar Group
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LEED Inventory and Absorption
Source: CoStar Group
0%
5%
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25%
LEED - % of Stock LEED % of Total Absorption
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Office Rent LEED v. non-LEED
Average Rent/SF/YR (2011 Q1) Office Buildings Class A and B 20,000 SF 1990+
Source: CoStar Group
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
$70.00
Rent - LEED Rent - All Office
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0%
5%
10%
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Atlanta Chicago Inland Empire Miami Philadelphia
Vacancy - LEED Vacancy - All Industrial
Vacancy Rate (2011 Q1) Industrial Buildings 50,000 SF 1990+
Source: CoStar Group
Industrial Vacancy
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$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
Atlanta Chicago Inland Empire Miami Philadelphia
Rent - LEED Rent - All Industrial
Average Rent/SF/YR (2011 Q1) Industrial Buildings 50,000 SF 1990+
Source: CoStar Group
Industrial Rents
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Your Questions
Copyright 2011 CoStar Group, Inc.