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RIVER HEIGHTS, UT, February 27, 2024 – On January 25th, 2024, leaders from the Department of Housing and Urban Development (HUD), the Department of Energy (DOE), and the Environmental Protection Agency (EPA) signed and released a joint letter requesting utility companies to make energy and water usage data for multifamily properties freely available. This collaborative initiative aims to create more energy-efficient homes, lower household emissions, and generate savings for families.

Multifamily housing data provide valuable insights but also come with unique challenges. One of the most significant challenges is the sheer volume of extensive and nuanced data that needs to be collected and analyzed. In many cases, property managers must keep track of data for several different buildings, which can be a daunting task. Another challenge is the accuracy and integrity of the data. With so much information to keep track of, errors and discrepancies quickly arise. That is why whole building data is essential when pursuing efficiency programs, as it sets the foundation for measuring building performance.

Data completeness and whole-building data are vital to analyzing cost and usage information, especially when it comes to multifamily housing data. For a variety of reasons, many utility companies do not currently share this data. Through this initiative proposed by the three federal agencies, utility companies are being urged to provide whole-building utility data access to support cost-effective investments in communities. This access to complete energy use data is crucial for property owners to maximize the impact of these investments. To that end, the EPA offers guidance to utilities in order to more easily share whole-building usage data with property owners.

As the largest utility management provider in the nation working to make a positive impact through our comprehensive and innovative ESG Solutions, Conservice eagerly awaits the significant changes the initiative could bring to the Multifamily market. Access to whole-building data greatly increases the integrity of ESG data, which leads to more effective long-term strategic sustainability planning.

Multifamily properties are home to more than 19 million low-income households, and making upgrades that focus on utility conservation could substantially decrease energy and water costs. The Biden-Harris Administration’s Inflation Reduction Act (IRA) has allocated over $6.6 billion for energy and water efficiency improvements in multifamily properties. In the “Home Energy Credits” section of the IRA, there are currently three classifications of credits that are offered: “Home Energy Tax Credit, Energy Efficient Home Improvement Credit, and Residential Clean Energy Credit”.

To learn more about our Multifamily services and ESG solutions; please reach out to us here.

About Conservice

At Conservice, we have one focus: utilities. Whether that means paying your utility bills, supporting your residents and tenants, or organizing your usage data to support business growth and ESG initiatives, we are the only national utility management company that focuses entirely and exclusively on utility services. Your utilities are our number one priority; all day, every day of the year. This is why our clients count on us to be The Utility Experts®. Learn more about our utility services at conservice.com and about our ESG services at esg.conservice.com.

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