Product category:
Glass
News Release from: Pilkington Building Products UK | Subject: Research into costs of inefficiency
Edited by the Buildingtalk Editorial
Team on 27 July 2005
Research shows hidden cost of
inefficiency
Research by the Association for the Conservation of Energy, funded by the Pilkington Energy Efficiency Trust, looks at links between future value of commercial offices and their energy efficiency.
According to new research, commercial property investors are jeopardising future rental and resale income if they choose to ignore property energy performance after energy performance certificates are introduced from January 2006 The research, conducted by the Association for the Conservation of Energy and funded by the Pilkington Energy Efficiency Trust, (PEET), aimed to ascertain any link between the future value of commercial offices and their energy efficiency
This article was originally published on Buildingtalk on 11 Feb 2003 at 8.00am (UK)
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In its report, 'Invisible Property Investment', the Association for the Conservation of Energy claims that building energy performance, its value to investors and consequential carbon dioxide emissions have, to date, all gone unmeasured in the commercial world.
It stresses that the sector can not continue to disregard its energy usage as it has in the past as the increase in air conditioning, artificial lighting and IT equipment in this sector has led to far higher energy consumption and CO2 emissions than ever before.
The report asserts that properties with higher energy efficiency are more likely to retain their value in the commercial market than their poorer performing counterparts, which would be far harder to lease or sell.
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'Energy intelligent' investors are likely to reduce the amount of energy inefficient property in their existing portfolio and seek to replace it with efficient property before energy is widely recognised as a crucial part of the valuation process.
Energy cost is usually comparatively low against other business costs and often disregarded.
This should change however after January 2006 with the introduction of mandatory energy performance certificates under the European Directive on the Energy Performance of Buildings.
These will allow tenants to see exactly how efficient their building is and begin to identify and understand the additional financial and environmental implications of poor energy performance on a like for like basis.
Energy efficiency and climate change are increasingly seen at the top of both the political and social agenda and the research by the Association for the Conservation of Energy shows that investors and tenants need to be aware of the implications of the energy consumption of their premises and the impact this can have financially, environmentally and even on the company's reputation in terms of its corporate social responsibility.
Pilkington established the Pilkington Energy Efficiency Trust,(PEET) in 1999 to give financial support for research, testing or evaluation projects that are designed to improve the knowledge or practice of energy efficiency in Buildings.
Funded by Pilkington, PEET is run by a board of trustees independent of the company who meet twice a year to consider applications and award grants.
For further information about the Pilkington Energy Efficiency Trust (PEET) please contact rick.wilberforce@pilkington.com.
For more information about the Association for the Conservation of Energy, the research or the Invisible Property Investment report, please contact Jacky Pett, Head of Research, Association for the Conservation of Energy jacky@ukace.org.
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