Chicago seeks private money to fund retrofits of public buildings

Drew Ballensky writes, “Chicago seeks private money to fund energy retrofits on public buildings | Wednesday, July 20, 2011 - 10:53.”

Helge: What are we doing in the field of energy efficiency in our cities?

The City of Chicago is attempting to attract private funds to pay for energy efficiency upgrades of nearly 100 public buildings. The buildings that together have more than 6.5 million square feet of space would be retrofitted at a cost of about $40 million, reports the Chicago Sun-Times.  (http://www.suntimes.com/6474753-417/rahm-emanuel-promises-to-make-buildi...)

Helge: We tend to think in terms of what is the government doing to boost investments in energy conservation and efficiency.

Projected energy savings on the city-wide retrofit program would be used to secure private financing. Annual energy savings is estimated to be $5.7 million, and the project is expected to create 375 jobs.

Helge: Is there a bigger saving potential in USA? I guess so.

The project will be modeled on the retrofit of the Richard J. Daley Center. That effort included an energy audit, followed by conservation measures including lighting upgrades, water conservation modifications to public restrooms, new boiler controls, and variable air boxes for a pair of fan systems serving the building’s first eight floors. The Daley Center upgrades have cut $600,000 from the building’s annual utility bills.

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The Energy Challenge - No Furnaces but Heat Aplenty in Innovative ‘Passive Houses’ - Series - NYTimes.com

The Energy Challenge - No Furnaces but Heat Aplenty in Innovative ‘Passive Houses’ - Series - NYTimes.com: "DARMSTADT, Germany — From the outside, there is nothing unusual about the stylish new gray and orange row houses in the Kranichstein District, with wreaths on the doors and Christmas lights twinkling through a freezing drizzle. But these houses are part of a revolution in building design: There are no drafts, no cold tile floors, no snuggling under blankets until the furnace kicks in. There is, in fact, no furnace."

Helge: Is this the new trend in building technique and design?

The Tower Company Going Green

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• Why does the human brain react to space?
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Building Materials and the Housing Downturn

If you're a builder, about to sink millions into a new development, what's the first thing you do? You make sure you can get a permit to start developing the land. That's why experts consider the rate of housing permit applications such a good hidden indicator of the future economy.

Helge: This starting point comes from US.

When it's going up, the economy will likely go up. Because the property industry drives a huge chunk of the job market. But also because when applications are soaring, it means that a boom is exactly what builders -- who live and breath by predicting the future economy -- are betting on.

Helge: We've been experiencing the same. When building goes down, so does the job market.

What does it say when building permit applications start to plummet?

It means builders see plunging home sales, a tight economy, and even a recession on the horizon. Pay attention. Because this is exactly the signal I'm showing you in the chart above. Early last year, the total new number of housing permit applications fell off a cliff.

Helge: We have to face this now.