Obama Announces $4 Billion Retrofit Investment

Printer-friendly versionSend to friend

By Paula Melton

President Obama’s Better Buildings Initiative is getting a $4 billion boost, thanks to a public-private partnership designed to help increase energy efficiency in existing commercial buildings 20% by 2020.

The effort will see $2 billion invested in federal buildings with no first cost for the federal government due to a financing structure whereby energy service companies perform the retrofits and building owners gradually pay for the upgrades through savings on utility bills (see “Existing Buildings a Promising Investment, Say Global Firms,” EBN Dec. 2011).

The other $2 billion was committed by private-sector building owners and will be invested in 1.6 billion ft2 of commercial building space, according to the White House.

Comments (0)

Post new comment

Welcome !
*
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
  • Glossary terms will be automatically marked with links to their descriptions. If there are certain phrases or sections of text that should be excluded from glossary marking and linking, use the special markup, [no-glossary] ... [/no-glossary]. Additionally, these HTML elements will not be scanned: a, abbr, acronym, code, pre.

More information about formatting options

December 27, 2011