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  • New York City Benchmarking and Transparency Policy Impact Evaluation ReportMay 2015

    Prepared for the U.S. Department of Energy by Navigant Consulting, Inc., Steven Winter Associates, Inc., and Newport Partners, LLC

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  • i

    AcknowledgmentsThe authors wish to thank and acknowledge several organizations and individuals for their contributions to this impact evaluation report. First, this evaluation of New York Citys Benchmarking and Transparency policy would not have been possible without the provision of data by the NYC Mayors Office of Long-Term Planning and Sustainability.

    Additionally, the following people offered valuable input to this study by providing subject-related materials, in-depth discussion, and constructive review of survey instruments, analyses and draft versions of this document:

    Sarah Zaleski , U.S. Department of Energy

    Cody Taylor, U.S. Department of Energy

    Finally, we acknowledge the hard work and dedication of the Navigant and Steven Winter Associates project team for the many hours to develop and complete this report:

    Ken Seiden, Navigant

    Jay Luboff, Navigant

    Dan Chwastyk, Navigant

    Emily Merchant, Navigant

    Robert Russell, Navigant

    Sonrisa Cooper, Navigant

    Adam Szlachetka, Steven Winter Associates

    Maria Rode, Steven Winter Associates

  • NEW YORK CITY BENCHMARKING AND TRANSPARENCY POLICY IMPACT EVALUATION REPORT

    Table of ContentsExecutive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i

    1 Introduction and Impact Evaluation Planning Framework . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

    1 .1 Overview/NYC Policy Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

    1 .2 Local Law 84 as a Foundational Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

    1 .3 Structure of this Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

    2 Strategic Planning Framework . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

    2 .1 Logic Model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

    2 .1 .1 Barriers to the Use of Energy Performance Data in Real Estate Transactions . . . . . . . . . . . . . . . . 4

    2 .1 .2 Policy Activities to Overcome Barriers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

    2 .1 .3 Expected Outcomes from Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

    3 Market Transformation Progress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

    3 .1 Market Transformation Progress Methodological Approach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

    3 .2 Illustrative Example of Results of Market Actor Interviews to Determine Market Transformation Progress . 8

    3 .3 Findings: Market Transformation Progress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

    3 .3 .1 Immediate Outcomes and MTIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

    3 .3 .2 Short-Term Outcomes and MTIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

    3 .3 .3 Intermediate and Long-Term Outcomes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

    4 Energy Impacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

    4 .1 Energy Impacts Methodological Approach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

    4 .1 .1 Gross and Net Energy Impacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

    4 .1 .2 Baselines and Net Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

    4 .2 Source Energy Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

    4 .2 .1 Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

  • 4 .2 .2 Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

    4 .2 .3 Summary of Results and Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

    4 .3 Historical Tracing and Attribution Issues for Future Consideration . . . . . . . . . . . . . . . . . . . . . . . . 20

    5 Non-Energy Impacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

    5 .1 Impacts on GHG Emissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

    5 .1 .1 GHG Emissions Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

    5 .1 .2 Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23

    5 .2 Impacts on Job Creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

    5 .2 .1 Job Creation Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

    5 .2 .2 Summary of Results and Conclusions NYC Jobs Creation . . . . . . . . . . . . . . . . . . . . . . . . . 31

    5 .3 Real Estate Valuation Methodological Approach and Findings . . . . . . . . . . . . . . . . . . . . . . . . . . .32

    Appendix A Market Transformation Indicators of NYCs Benchmarking and Transparency Policy . . . . . . . . . . .33

    Appendix B Narrative Description of NYC Market Actor Interviews . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36

    B .1 Market Actor Interviews Narrative Summary and Interviewee Recommendations for Improving Benchmarking and Transparency Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36

    B .1 .1 Building Owners and Managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36

    B .1 .2 Real Estate Professionals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38

    Appendix C Historical Tracing and Attribution Issues for Future Consideration . . . . . . . . . . . . . . . . . . . . . 40

    C .1 State Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

    C .2 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

    C .2 .1 Con Edison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

    C .2 .2 Long Island Power Authority/PSEG Long Island . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

    C .2 .3 National Grid . .

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