- Going green in older builders can be expensive, but there are financing options for owners.
- Some estimates put the spending for energy and conservation work in the next thre years at a third of all renovation -- or at least $18 billion.
- Michael Polentz, who co-chair of the real estate and land use practice at the law firm of Manatt, Phelps & Phillips, says one financing structure widely used in Europe but not seen much in the U.S.yet is to have energy service companies monetize the work and equipment.
From the article:
Many of today’s commercial buildings are being constructed with energy efficiency and economically sound principles in mind. LEED certifications have become practically commonplace, and architects and developers are creating properties that are cleaner and greener than ever.
But what about existing buildings, particularly those constructed more than a couple of decades ago?...