Energy Saving News
Empire State Building's Energy Saving Retrofit Makes Business Sense
THE world famous Empire State Building, a New York City skyline landmark is undergoing a major energy efficiency retrofit that will bring 40% reduction in costs and energy use.
The Malkin family have been part owners of the building since 1961 and they now supervise the current building managers W&H Properties. President of Malkin holdings Anthony Malkin explained that in New York City "80% of the energy consumed is consumed by buildings. 20% of the buildings consume 80% of that energy."
"We're doing this [making the Empire State greener] not because it's the right thing to do, but because it makes business sense. If we don't reduce our energy consumption, we will lose money and be less competitive against China, India, Brazil and the other expanding economies," Mr Malkin told the Guardian newspaper.
The landmark building constructed in 1931, 1472 feet tall, with 2.8 million square feet of office space consumes the energy equivalent to 40,000 single-family homes.
At a meeting of the US Congress Joint Economic Committee (JEC) on Tuesday Malkin reported on the Empire State Building retrofit plans, due to be finished this year, revealing that the cost will be recouped within three years and produce substantial energy and financial savings.
The Empire State Building retrofit covers many measures and strategies to save energy and is costing $13 million. By 2013 the Empire State Building’s energy use will have reduced by 40%, meaning that their annual energy saving of £4,4 million will have paid for the retrofits.
US Congresswoman Carolyn B. Maloney is the Chair of the JEC and in a piece she wrote for Huffington Post added three reasons that such measures should be taken:
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Energy efficiency does not have to just be a decision to save the planet, it is also makes good business sense. Business owners can save an enormous amount of money in energy costs by retrofitting.
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If we want to make real progress in reducing greenhouse gas emissions, we must concentrate on the biggest energy consumers and that is big buildings that exist today.
- Government has a role to play in shining a spotlight on the economic, environmental and consumer benefits of retrofits, but it is the private and non-profit sectors that will roll up their sleeves, nail down the economics and make these retrofits happen.
Picture by victoriapeckham
Thursday 29th July 2010
