Choosing and managing an energy efficient office space can result in significant financial savings for businesses.
If you own your building, energy efficiency improvements can increase your property value. It can also attract higher rental returns if you were to lease your property as tenants are increasingly demanding to occupy energy efficient buildings.
If you are looking to lease building space, you can reduce your energy costs by 25% by leasing energy efficient space and implementing energy saving initiatives. For example, by choosing a tenancy with energy efficient lighting, businesses can save between $30 000 (for a 500m2 space) and $140 000 (for a 2000m2 space) over the term of a five year lease.
You may also want to consider negotiating a green lease. With this type of lease, the tenant and the building owner look at ways to jointly reduce the energy usage of the premises, which can often result in a financial win for both parties.
CitySwitch has developed a range of case studies to demonstrate how commercial offices have improved their energy efficiency, including:
- WT Sustainability
- Steensen Varming
- AMP Capital.
See the above case studies and many more on the CitySwitch website. CitySwitch is a free sustainability program supporting office-based businesses to significantly improve day-to-day energy and waste efficiency. The program provides network members with one-to-one support from an experienced program manager. It also includes free online resources, practical toolkits and regular education and networking events.
The Royal Institution of Chartered Surveyors (RICS) has developed tools and guidance materials to help businesses better understand the energy efficiency of commercial office spaces that they may want to lease.
- RICS ‘Leasa’ app – A tool to compare energy, occupancy and lighting costs of a space for lease, as well as track your energy bills.
- The Best Practice Guide for SME tenants leasing commercial space (Opens in a new window PDF 3.03 MB) provides advice on choosing office space for lease and the benefits of choosing a space that is energy efficient.
Other resources include:
- Commercial Building Disclosure (CBD) program – Provides energy efficiency information for commercial office spaces.
- Building Energy Efficiency Register – A search tool for the most energy efficient property to purchase or rent.
- National Australian Built Environment Rating System (NABERS) – Offers an overview on how ratings from zero to six stars are assessed and how to self-assess buildings for free, or find a professional to conduct an accredited rating.
- Resource Calculating Cool tool – Includes advice on how to benchmark the efficiency of HVAC systems in relation to best practice as well as to understand energy standards and energy ratings for appliances and equipment, including labelling.
- Commercial buildings – Provides a list of opportunities to improve the energy efficiency of the commercial and services sector as well as links to case studies and resources.
- Energy Rating – Includes information on energy standards and energy ratings for appliances and equipment, including labelling to enable businesses to compare appliances and equipment and find the most energy efficient products.
See the RICS website for more information on choosing and managing an efficient office space.
- Royal Institution for Chartered Surveyors (2013) “Choosing and Managing an Energy Efficient Space: A Best Practice Guide for SME Commercial Office Tenants” ↩