A new development illustrates the utility cost benefits of installing energy efficient improvements.
There are many questions about the cost benefits of installing energy efficient improvements, like LED lighting, drought-tolerant landscaping, water reuse systems and more efficient HVAC systems. These upgrades can be costly, and owners have questions about whether the price tag of these improvements is offset by the utility and energy cost savings.
A new development, however, shows a big and immediate savings following installation. MG Properties Group’s Stonewood Gardens development in San Diego was certified energy efficient after installing $110,750 on property improvements. Following the improvements, the developer received an incentive check from San Diego Gas & Electric, offsetting the install costs by 93%. “We were not surprised to see the savings nearly cover the costs, in fact, we work hard to model our energy and water efficiency improvement projects to make it as low-risk of an investment as possible,” Bryce Colwell, project manager at Bright Power, a company that worked with MG Properties to reduce its footprint, tells GlobeSt.com.
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