Energy Use Disclosure Required For Chicago Building Owners
Pursuant to a new law passed recently by the Chicago City Council, the owners of approximately 3,500 buildings in Chicago will be required to disclose how much energy they use. The goal of this new ordinance is to increase energy efficiency.
The disclosures will then be compiled and scored, and the scores will be public information. If a building’s score is poor, they may have trouble finding tenants or buyers. On the other hand, if the building scores well, it could be an added marketing benefit for that building’s owners, perhaps helping to lure new tenants and buyers.
The new ordinance covers buildings 50,000 square feet and up. If you have a commercial building greater than 250,000 square feet, the reporting requirement kicks in for you in June 2014. If you have a commercial building that is between 50,000 and 250,000 square feet, you must start reporting in June 2015. Residential buildings are subject to the new ordinance also, but they have an extra year to comply.