Fannie Mae Applauds The U.S. Environmental Protection Agency's Release of the ENERGY STAR
Fannie Mae Research is Basis for EPA's Score
WASHINGTON, DC – Today, the U.S. Environmental Protection Agency (EPA) advised industry partners that an ENERGY STAR® score for multifamily properties is now available. The score gives property owners and managers the ability to quantify and compare the energy performance of their multifamily housing properties against similar properties, and provides information to help prioritize energy efficiency efforts to ultimately save money. Since 2011, Fannie Mae has been the primary sponsor of EPA’s development of this score by sharing expertise and collecting the data necessary to develop the score with its Multifamily Energy and Water Market Research Survey.
"Fannie Mae and the U.S. Environmental Protection Agency are working together to positively impact the quality and affordability of multifamily housing through energy efficiency," said Janet McCabe, Acting Assistant Administrator for EPA's Office of Air and Radiation. "Fannie Mae’s work paved the way for our ENERGY STAR score for multifamily housing, which will help owners and tenants save energy, save money, and better protect the environment."
"We're pleased that the result of our partnership with the EPA is such a valuable tool for our industry," said Jeffery Hayward, Senior Vice President and Head of the Multifamily Mortgage Business, Fannie Mae. "Reducing energy and water use can reduce operating costs, benefiting property owners, tenants and the environment. Fannie Mae’s research suggests that inefficient properties may spend up to $165,000 more in annual energy costs than a similar property operating at the highest efficiency levels. That’s real money that property owners could save and potentially benefit tenants. We congratulate the EPA on the launch of this new tool and are happy to be a part of this important development."
Fannie Mae wishes to thank and acknowledge the numerous multifamily owners, property managers, and consultants who provided data for the Survey, as well as the Commercial Real Estate Finance Council (CREFC), the National Multifamily Housing Council (NMHC), and the Urban Land Institute (ULI) for their leadership and support of this effort.
Visit https://www.fanniemae.com/portal/about-us/media/commentary/091114-pagitsas.html to learn more about Fannie Mae’s involvement in the creation of the ENERGY STAR score for Multifamily properties, and https://www.energystar.gov/ to generate a ENERGY STAR score for multifamily. More information on Fannie Mae's multifamily energy and water research is available in the white paper "Transforming Multifamily Housing: Fannie Mae's Green Initiative and ENERGY STAR for Multifamily," available at https://www.fanniemae.com/content/fact_sheet/energy-star-for-multifamily.pdf.
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