Companies are using new technologies to boost energy efficiency and cut outlays; P&G to spend $5M on energy-saving projects
With energy prices at record levels and no relief in sight, corporate real estate is going green, not for environmentally friendly or public relations purposes but out of simple economic necessity.
Utility cost savings in so-called green buildings, those that minimize their use of energy, are expected to climb significantly from their current level of 10% a year.
“I think people are giving more credence to the idea that energy, particularly electricity, is going to continue to rise, so they're being more aggressive in their buying of energy and more aggressive in their management of its use,” said John McGinley, senior vice president of property management services at Grubb & Ellis, which manages a portfolio of about 9,000 office properties nationally.
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