Financing Emission Reductions in Big Buildings
Boston and other cities in Massachusetts have mandated that buildings over 20,000 square feet must reduce their emissions to net-zero by 2050.
However, reducing emissions in a big building can cost millions of dollars. Since COVID reduced occupancy rates in office buildings, many big building owners are financially underwater and cannot take on more liability.
How can these comprehensive retrofits be paid for without adding liability to a building owner’s books?
Can MEETS help?
MEETS (Metered Energy Efficiency Transaction Structure) is a potential solution. The utility takes on the liability and sells the efficiency energy to the owner and tenants. It has been piloted in Seattle at the Bullitt Center, North America’s greenest commercial building.
HEETlabs will pilot MEETS here in Massachusetts.