Chicago-based Elevate Energy is charting a course around the split incentive that gives tenants an interest in cutting energy costs, but owners of multi-unit rental buildings little apparent reason to reduce their energy consumption.
In rental housing, “landlords pay for infrastructure and appliance upgrades while tenants pay all or most of the utility bills,” Lydersen notes. Elevate’s Energy Savers program educates multi-unit building owners on the benefits of energy efficiency, offering them free energy audits and advice on contractors and upgrades.
“Weatherization and other investments often mean more desirable housing that translates to lower tenant turnover, a big plus for owners,” Lydersen notes, citing Elevate spokesperson Stephanie Folk. “Landlords also stand to save money from utility bills for common building areas, or in cases where they pay for heat or other portions of the utility cost.”