Energy Efficiency in the Multifamily Rental Housing Industry: Promoting Informed Investment Decisions in North Carolina

Abstract

To better serve its members’ growing interest in energy efficiency (EE), the Triangle Apartment Association (TAA) is looking to identify important factors that multifamily rental housing property owners should consider when deciding to invest in EE. More specifically, TAA seeks to bridge knowledge gaps that exist in the multifamily rental housing industry, particularly those related to available EE technology, the potential for owners to recoup their investments, and policies and programs designed to assist with the investment process. This report summarizes key findings based on research conducted over an eight-month period to answer the following question:

What tools should TAA provide its members to make informed decisions about EE capital investments?

I performed a qualitative study to identify, assess, and suggest relevant EE technology, methods for property owners to recoup their investments, available programs to assist with the investment process, and a checklist to help property owners make an informed investment decision. My approach included three main components: a literature review of the costs and benefits of particular types of EE technology, an analysis of policies and programs designed to facilitate the investment process, and expert interviews. To develop recommendations, I analyzed key themes from my qualitative data through a two-prong framework representative of two features central to TAA’s mission: education and advocacy.

My research and analysis conclude with the following recommendations for TAA: (1) Offer trainings and produce educational materials to help property owners assess opportunities for EE improvements and to understand which EE policies and programs will have a meaningful impact on their businesses, and (2) Collaborate with stakeholders across industries to promote comprehensive policies that are tailored to meet the unique needs of the multifamily industry.