Commercial, Demand Management, Energy Efficiency, Regulation  -  May 27, 2016

CoStar partners with DOE to include building energy efficiency, performance in database

Starting with Chicago and Washington, D.C., soon building energy efficiency and energy performance information will be displayed throughout CoStar Property's database via a partnership with the U.S. DOE. 

The commercial real estate information, analytics and online marketplaces company said May 26 that the move is tied to its commitment to fostering environmentally responsible business practices. CoStar's holdings include online commercial real estate market LoopNet as well as Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com. 

As state and local governments implement policies requiring businesses to disclose building energy usage information, that data will be funneled to CoStar for display in its database, the company said in a news release. After rolling out the Washington, D.C., and Chicago data, CoStar will move on to other cities.

CoStar has previously partnered with the U.S. EPA to display Energy Star ratings and with the U.S. Green Building Council to display LEED-certified buildings in its database.

"We believe providing energy data on commercial, multifamily and industrial properties will contribute to long-term advancements in energy efficiency across the nation," CoStar founder and CEO Andrew Florance said in a statement. "This information also provides our customers — including brokers, owners, investors and lenders — with intelligence they can use to find their edge in the market and make informed decisions."

According to the DOE, buildings commonly account for as much as 80% percent of local carbon emissions generated within cities, and hundreds of millions of dollars in collective energy costs for residents and businesses. Increased transparency within this sector is expected to drive progress, and an increasing number of city governments across the country are beginning to require this energy information to be reported by businesses. In addition to Chicago and D.C., participating cities currently include Atlanta, Boston, Boulder, Kansas City, New York, Philadelphia, Portland and Seattle.

Share this valuable information with your colleagues using the buttons below: