A new initiative by the Environmental Protection Agency and Freddie Mac paves the way for multifamily property owners to more easily secure loans for energy efficiency upgrades. Improving energy usage in multifamily buildings could save more than $9 billion by 2020, according to studies.
Studies have shown that rental properties are generally less efficient than owner-occupied homes. This initiative will help renters save energy and money and has the potential to reduce greenhouse gas emissions by 35 million metric tons – the equivalent of taking 7.2 million cars off the road.
The initiative is part of the Climate Action Plan and will make energy and water use data available to both tenants and owners.
There are many other energy utilities across the country launching efficiency programs for multifamily residence. There are approximately 20 million American households in multifamily residences. In addition, roughly one-third of Americans live in apartments in multifamily buildings.
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