Shorenstein Properties
At a Glance
Industry
Real Estate
Project Type
Commercial Energy Efficiency
Year
2016
Location
San Francisco, CA
Net Present Value:
$320,000
Annual kWh Savings:
1,260,000 kWh
Annual CO2 Reductions:
200,000 metric tons
Summary
Ryan Moya created a template to survey properties across Shorenstein’s portfolio, worked on renewable procurement and recommended ways to improve the national portfolio utility data rollout.
Goals
As a founding member of the Better Buildings Challenge with a robust sustainability program, Shorenstein Properties was on pace to meet its energy reduction goal four years ahead of its original 2020 commitment. Staying ahead of the curve, Shorenstein enlisted the help of EDF Climate Corps fellow Ryan Moya to deploy utility data automation throughout the portfolio, enhance how it currently acquires LEED certification and ASHRAE II audits and analyze the feasibility for a solar carport installation, as well as devise an initial strategy for its next GHG reduction goal.
Solutions
After researching opportunities for the company’s next GHG reduction goal, Ryan discovered that the majority of the markets Shorenstein’s serves have their own commitments to reduce citywide emissions 80% by 2050. He compared this broader goal to the company’s current goal, and measured the gap that needed to be filled. Having a better understanding of reductions still needed, Ryan evaluated possible solutions and renewable energy procurement. He assessed the value of PACE financing in California to install a 749kW solar awning. By using PACE, the project would require zero capital outlay, break even in year six and provide additional value to the property should Shorenstein wish to sell.
With sustainability engrained in the company culture, Ryan saw potential savings in using in-house employees to recertify its LEED buildings and conduct ASHRAE Level II audits. He developed templates for internal use and provided a roadmap for properties in-line for recertification of LEED Dynamic Plaque.
Ryan also researched how the national portfolio utility data is rolled-out, looking into the options around standardizing the collection and storage process. Automating portfolios is a simple solution to save time while ensuring reliability of the company’s utility account information. After holding conversations with each property team and validating the data integrity for each of their utility accounts, a scope was determined with over 400 utility accounts to be automated throughout the portfolio.
Potential Impact
Over their lifetime, Ryan’s projects could save Shorenstein $1.77 million in net operational costs and reduce over 25% of the portfolio’s GHG intensity. Annually, the solar awning project would save over 1.25 million kWh of electricity. At the end of his fellowship Ryan sent internal memos to regional leasing representatives and senior management, presenting his findings on utilizing LEED Dynamic Plaque for re-certification, feasibility of installing the solar awning and renewable procurement options for the company’s next GHG target.