Peabody Properties: Energy performance

Energy Performance
Average Annual % Improvement2.2%
PORTFOLIO ENERGY PERFORMANCE

Better Buildings Challenge Partners comitt to decrease portfolio-wide source energy use intensity (EUI) and to increase the percent improvement compared to a set baseline. Since 2011, Peabody Properties has improved their portfolio-wide energy performance by an average of 2.2% each year, which is equivalent to a cumulative improvement of 11%. During the past several years, Peabody Properties, Inc., has secured more than $20 million in zero-cost property upgrades by researching and capitalizing on various utility and state-funded energy conservation programs. These upgrades include lighting retrofits, weatherization work, and large scale HVAC projects; most recently completing a $1.2 million dollar LEAN-funded boiler upgrade at a large property in the City of Boston and a $580,000 weatherization project at a large scattered site in Springfield, Ma. In recent years they’ve partnered with Mass Save to install variable speed drives in boiler rooms throughout their portfolio to further increase their energy savings. To stay on top of their energy usage outside of these projects PPI places a huge emphasis on water conversation and looks to perform water retrofits at every opportunity possible.  

UTILITY DATA IN MULTIFAMILY PORTFOLIOS

Multifamily property owners often face challenges in gathering whole building data for properties with large numbers of individual tenant-paid utility accounts. Through the Better Buildings Challenge, partners can demonstrate progress towards their savings goal by reporting two types of data: (1) whole-building energy use, including tenant-paid utilities, for at least 30 percent of their portfolio; and (2) owner-paid receipts (common areas only) for the remaining share of their portfolio. Peabody Properties' portfolio consists of 302 properties and more than 8 million square feet and approximately 10,000 housing units, with whole-building data (both tenant-paid and owner-paid receipts) available for 43% of their portfolio.

Peabody Properties
WHOLE BUILDING VS. OWNER-PAID PERFORMANCE

This graph breaks out the portfolio's energy performance for properties with whole building energy use vs those with owner-paid receipts. Peabody Properties has achieved 2.4% savings in properties with whole-building data and 1.8% in properties with owner-paid receipts. 

ENERGY PERFORMANCE BY PROPERTY

Looking at the percent improvement in energy performance across all facilities can provide insight into how an organization is saving energy. Peabody Properties has achieved energy performance improvement of greater than 15% at more than 94 of its properties. There are 45 properties that have experienced an increase in Source EUI. These properties have been targeted for future energy efficiency improvements.

IDENTIFYING OPPORTUNITIES FOR IMPROVEMENT

Property-level energy performance metrics, including EUI and percent improvement to date, are critical to track progress over time and identify opportunities for additional energy savings. Peabody Properties' portfolio consists of properties with a wide range of baseline EUI values, most of which are from 50 to 150 kBtu/sq. ft. The majority of properties have shown energy improvement since 2011. The properties located near or below the 0% axis may present good opportunities for further savings.