The State is currently proposing major revisions to its existing energy disclosure law. These revisions will make compliance more manageable for building owners, owner’s representatives, and consultants. Some of the changes will help immediately, some will take time to effectively implement but here are the highlights:
- The compliance document will be the ENERGY STAR Statement of Energy Performance instead of the overly complex, often misinterpreted (for compliance purposes) Data Validation Checklist.
- Building owners less than 10,000 SF will not have to worry about compliance, they are exempt.
- A plan has been put in motion that will require utility providers to assist building owners with tenant-owned utility bill collection (the biggest current obstacle to meaningful compliance)
- Disclosure reports will be valid and re-issuable for up to 12 months.
- The State is notified of compliance via a reporting link on the ENERGY STAR website, no separate email is required.
- Deadlines: disclosure report is now due within 3 days after execution of the Purchase and Sale Agreement. Effectively making disclosure a Due Diligence item similar to a PCA, Phase I, or Appraisal. A big milestone!
For further information on the upcoming changes, please see “Proposed Changes to Regulatory Language” at the link below or contact Partner Energy at 888-826-1216.