green bond

Pembina introduces Alberta Green Condo Guide

Wednesday, April 8, 2015

The Alberta Real Estate Foundation and the Pembina Institute recently released an Alberta Green Condo Guide. In a March 26 note on the Pembina website, Jesse Row writes that the guide was developed to address the unique energy efficiency challenges posed by condominiums.

“It lays out ways condo boards or condo managers can make their building more energy efficient and save residents money,” Row writes. “It also includes case studies of condos that have done upgrades and saved substantially.”

The guide responds to common objections to energy retrofits, such as: “I may not be here long enough to see any payback.” (Answer: Green buildings are cost-efficient, protecting the owner’s investment and making it attractive to buyers.)

The guide states that, with at least 40 per cent of a building’s operating costs going to utilities, upgrades such as more efficient boilers or lighting can reduce these controllable expenses substantially. One case study shows how a Toronto condo saved $35,800 annually. Its $145,635 project, which had a 2.3-year payback period, included adding new high-efficiency condensing boilers and T8 lighting and electronic ballasts.

The guide provides step-by-step instructions on how to get started, from understanding existing energy use, to setting goals, to identifying a building’s best energy savings opportunities.

In creating the guide, the Pembina Institute adapted Toronto Atmospheric Fund work to the Alberta context. The City of Alberta and Alberta Real Estate Foundation funded the project.

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