Equity Residential Averages 87 ENERGY STAR Score Across Portfolio Through Appliance, Lighting and Thermostat Upgrades
LABBC CASE STUDY
PROPERTY OWNER
Equity Residential
PROPERTY TYPE
Multifamily
SQUARE FEET
6,551,132 (16 Buildings)
6%
Reduction across portfolio in 2018
87
Average Energy Star Score across portfolio
2019 Innovation Awards: Portfolio of the Year Finalist
“Equity Residential has a company-wide commitment to sustainability, which we call “people, planet, profit.” This approach guides our strategy on new developments, property and unit rehabs and investments in water and energy conservation and production. We are committed to developing new assets to meet environmentally-friendly standards such as LEED and renovate approximately 4,000 units annually using energy efficient appliances and fixtures, We spend approximately $15 million each year in various sustainability initiatives including lighting retrofits, solar and water conservation.”
BARRY ALTSHULER, EVP - Investments West Coast, Equity Residential
PORTFOLIO
DESCRIPTION
Equity Residential is an S&P 500 company that owns or has investments in 307 properties nationwide. Equity Residential’s energy and water efficiency measures are part of a programmatic approach to sustainability including efficiency, conservation, and clean energy projects across the portfolio.
SUSTAINABILITY GOALS
Equity Residential believes sustainability thrives at the intersection of people, planet and profit. The company has established portfolio-wide energy, water and greenhouse gas reduction goals for 2021. Much of the progress is achieved through a commitment to continuously improve and maintain buildings to reduce energy and water use while improving operational efficiency.
PROJECT BACKGROUND
Equity Residential’s Los Angeles portfolio investments, include lighting, HVAC and plumbing upgrades, and are part of a long-term energy and water efficiencyprogram.
2018 PROJECT HIGHLIGHTS
Installed LED lighting in common areas of six sites.
Installed water-efficient toilets (1.0 gallon/flush or less) at two sites.
Renovated 335 residential units with Energy Star appliances, energy efficient lighting, programmable thermostats, low VOC paint, recyclable carpet, WaterSense faucets and showerheads.
Deployed a new dry cleaning method on carpets in a large portion of our buildings with interior hallways which uses 99% less water and 30% less power than traditional methods.
PROJECTS COMPLETED
BEFORE 2018
Comprehensive LED lighting retrofits in the common area.
Completed energy efficient apartment upgrades for 1,051 units, bringing total count to just under 1,400 units through 2018.
Solar thermal heating, LED lighting, variable speed pumps, and heat-saving coatings for two pools.
Installed carbon monoxide sensors on garage ventilation systems, reducing energy use by more than 50%.
Implemented electronic signature system for resident leases and electronic vendor bill processing, eliminate hundreds of thousands of pieces of paper waste annually.
Conducted electronic, battery and lighting recycling.
PRO TIPS
“One of the ways in which we find opportunities in our portfolio is through benchmarking our utility cost and usage. This helps us identify pockets of opportunity, prioritize areas for energy and water conservation, and make targeted operational improvements. It is also critical on the back-end, to make sure our efforts are working.”
ROBERT GRANT
VP Property Management Southern California, Equity Residential
STAKEHOLDER ENGAGEMENT
Equity Residential surveys residents regularly and educates leasing staff and residents on the sustainable features in their buildings. The company is committed to improve and enhance sustainability policies and practices through employee and community engagement, as well as board composition and governance policies.
INNOVATION
Equity Residential’s pursuit of its sustainability goals relies on an adaptive, practical approach to different properties and regions that make the highest impact in reducing the environmental footprint across its portfolio. The company invests in urban and dense suburban markets that are highly walkable and transit- friendly, enabling a low carbon footprint lifestyle for residents to live, work and play.
