Recognition and Use by Appraisers of Energy-Performance Benchmarking Tools ...
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Recognition and Use by Appraisers of Energy-Performance Benchmarking Tools for Commercial Buildings
Since September 1999, the New York State Energy Research and Development Authority (NYSERDA) has supported a project, implemented by the Institute for Market Transformation (IMT), to encourage commercial property appraisers to account more rigorously for building energy performance as a factor affecting cash flow and value in buildings. One focus of our work has been to enhance coordination and mutual understanding among appraisers and developers of energy-performance benchmarking tools. This paper briefly describes the most prominent existing benchmarking resources and summarizes current practices and priorities regarding benchmarking among appraisers in New York state. It also presents our general commentary and recommendations on maximizing the usefulness to appraisers of existing benchmarking tools, and raises the possibility of developing new tools and databases for use by appraisers and other stakeholders in commercial real estate.
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