Better buildings: 14 initial partners step up to the challenge

In 2010, commercial buildings in the U.S. consumed roughly 20% of all energy in the U.S. economy. Earlier this year, President Obama set a target of making commercial building space 20 percent more energy efficient by 2020. As part of that, the Better Buildings Challenge encourages private and public sector commitments to improve the energy performance of commercial builldings across the country.

Fourteen initial partners have accepted the challenge by committing more than $500 million and 300 million square feet to improving energy efficiency. They will work with the Department of Energy in the coming months to further develop the details of the challenge in advance of another round of partnership announcements in the fall.

Commitments announced include a pledge by Lend Lease to retrofit 40,000 homes for military families and by Transwestern to upgrade energy efficiency in 78 million square feet of commercial real estate. Other projects include:

·         Seattle 2030 District: 23 million feet of downtown buildings will meet or exceed Better Building Challenge goals

·         City of Los Angeles: $7.5 million in Recovery Act funding will leverage $30 million in total investment to improve 22 million square feet of downtown buildings

·         City of Atlanta: 220 downtown city blocks targeted with Atlanta's City Hall and Civic Center leading the way

·         USAA Real Estate Company: Approximately 50 million square feet

·         Abundant Power: $50+ million in financing over the next 18 months

·         Best Buy: More than 55 million square feet of retail space

·         Green Sports Alliance: 25 sports teams in 17 cities representing more than 20 million square feet of sports arenas

·         Citi: $250+ million in financing over the next 18 months

·         Green Campus Partners LLC: $100+ million in financing over the next 18 months

·         Metrus Energy: $50+ million in financing over the next 18 months

·         Renewable Funding: $50+ million in financing over the next 18 months

·         Transcend Equity: $75+ million in financing over the next 18 months

"Improving building energy efficiency on a large scale is a challenge we can't afford not to take," noted Energy Secretary Steven Chu. "It will create jobs, reduce energy waste, save our businesses and institutions money, and reduce our dependence on foreign oil."

You might also be interested in …

Energy efficiency – Why the European Commission is smarter than the U.S. Congress

Energy efficient businesses get thumbs up in Santa Clara