Residential Real Estate Trust
Business Activity: Real Estate
Project: Energy Auditing
Our client, a residential real estate investment trust (REIT), owns and operates hundreds of residential buildings nationwide. The company asked Sieben Energy Associates (SEA) to help them reduce their annual energy costs, then totaling $100 million, and to implement lasting energy efficiency improvements.
SEA worked with the REIT’s senior management to plan and execute energy audits throughout its portfolio. Our energy engineers traveled to residential sites across the country to assist local group managers in identifying energy cost reduction measures (ECRMs) at their properties.
SEA conducted walk-through visits of each property, reviewing energy-related controls, systems, and operations. Using data from these on-site surveys and additional information provided by corporate and building staff, SEA developed custom energy efficiency recommendations. Energy audit reports delivered to our client include technical specifications as well as financial analysis establishing the business case for the various measures.
Our team worked with our client to develop best-fit ECRM implementation strategies that were economical and practical for each building. We carefully analyzed and prioritized ECRMs in order to provide our client with an approach that offered the best return on investment.
These strategies reduced this REIT’s energy usage by more than 10 percent. In addition, SEA’s engineering team outlined key insights and customized best practices for all of the client's properties. We not only helped our client cut their near-term energy expenses; we also provided them with the knowledge and expertise to maintain those reductions long-term.