Energy Factors in Commercial Mortgages
Commercial mortgages currently do not fully account for energy factors in underwriting, valuation and asset management, particularly as it relates to the impact of energy costs on net operating income and default risk. As a consequence, energy efficiency is not properly valued and energy risks are not properly assessed and mitigated. Commercial mortgages are a large lever and could be a significant channel for scaling energy efficiency investments.
This project seeks to lay the foundation for developing scalable interventions to address this issue. The project is sponsored by the US Department of Energy's Building Technologies Office, and is being led by Berkeley Lab in collaboration with the University of California Berkeley's Haas School of Business. The project team is currently working on selected interventions in partnership with mortgage lenders, building owners and other stakeholders.
ACEEE Summer Study 2018 presentation
Better Buildings webinar recording and slides, September 2016
ACEEE Summer Study 2016 presentation
Multi-family Mortgage Default Risk Associated with Energy Inefficiency
Research Paper, November 2020
The Pricing Risk of Energy Use Intensity for Office and Multifamily Mortgages
Technical Report, May 2020
Estimates of Building Component Energy Savings for Use in a Property Condition Assessment
Technical Report, updated August 2019
Technical Report, updated December 2018
Technical Report, September 2017
Technical Report, September 2016