Want an easy way to reduce energy in your portfolio today?
Consider implementing Treasure Hunts, to find low-cost, no-cost opportunities
When you hear the words “Treasure Hunt,” chances are you imagine a pirate’s chest buried on the beach of a tropical island. Within that chest are untold riches, perhaps gold and silver. But have you ever considered that it might also be a strategy to find quick ways to save energy?
Since 2019, the ENERGY STAR Energy Treasure Hunt campaign has found over $40 million in energy savings, and many of the findings can be low-cost or at no cost. The idea of an Energy Treasure Hunt originated in the late 1990s with Toyota. The idea was to introduce a repeatable strategy that encouraged employees to learn a continuous improvement culture, which would reduce energy and water costs and consumption while minimizing greenhouse gas emissions.
For multifamily real estate operators, this means putting together a cross-functional team, typically containing property management and maintenance team members; you could even involve residents.
The EPA has produced Treasure Hunt Maps for multifamily properties (https://www.energystar.gov/sites/default/files/tools/ES_TreasureHunt_Checklist_Multifamily_1.pdf) that can be used as a guide for the teams so they do not have to be energy experts to participate. The Treasure Hunt will focus on quick fixes with short payback periods. The result is a more efficient property that compares favorably against peers in the market and costs less to operate.
It is important to note that this is not an energy audit or an energy assessment. Energy audits typically take a more in-depth look at the entire facility and often include an evaluation of the operation of facility equipment and propose modifications. Energy assessments tend to be more specific in focus, looking at one particular energy-using system instead of the entire facility. Both audits and assessments look at capital improvements rather than operational procedures.
The initial step is to create the Treasure Hunt Team, and I like to use sister property maintenance and property management staff to walk each other’s properties. You can also pull in regional management, sustainability team members, or other support staff as part of the team. The key is to get a new set of eyes on the property. Too often, staff assigned to a community may stop seeing the opportunities as they see them day in and day out; at some point, they usually start looking past them.
It will be essential to appoint a facilitator for the Treasure Hunt. The facilitator will lead the preparation for the event, conduct any needed pre-training, and then leads the on-site event with the rest of the Treasure Hunt Team.
Ideally, the facilitator will begin the preparation phase six weeks before the event. This may include looking at the ENERGY STAR Score and Energy Use Intensity (EUI) for the community where the treasure hunt will be conducted. This should also include a preliminary discussion with the property management team at the site to gain their support. Any information on equipment specifications and operating parameters can also be obtained.
One week before the Treasure Hunt, any needed pre-training should take place. This includes discussing the roles and responsibilities with the other team members.
The actual event consists of two separate on-site evaluations. One of these evaluations should occur during normal working hours; the other should occur after normal working hours. Ideally, one of the evaluations takes place during daylight while the other occurs at night. I have seen some communities include a third evaluation that occurs on the weekend as well.
Remember, the purpose of the Treasure Hunt is to set a unique tone for evaluating energy performance by focusing on positive outcomes and improving the community’s day-to-day operations. The experience should be positive in nature and helpful, not an exercise in pinpointing problems or identifying poor performers. This is also why I am using the word evaluation instead of the word inspection.
Using the Treasure Hunt Map for Multifamily Properties linked above, the Treasure Hunt Team looks at lighting, building envelope, equipment/plug loads, HVAC and advanced HVAC, Vacant and Model Resident Units, and irrigation.
After the site evaluation, the team summarizes their findings and shares them with the property to pursue efficiency measures. This is the most important phase - as to realize the savings, we need to act on them.
It is not unusual to find thousands or tens of thousands in potential savings after conducting a Treasure Hunt. Since we are looking at operational improvements, most of these can be implemented at low to no cost.
This is one strategy that every property out there can implement pretty easily. There is a resource page on the ENERGY STAR webpage at: https://www.energystar.gov/industrial_plants/treasure_hunt.
You can help reduce the built environment’s impact by sharing this blog with your peers. Together we can impact the 39% of greenhouse gasses attributed to the built environment. It starts with awareness, and we succeed with teamwork.
Stay well!
Chris Laughman is the ThirtyNine Blog author, a blog dedicated to reducing the built environment’s impact. When not blogging, Chris is helping residents, clients, and investors reduce their energy, carbon, waste, and water impact as the Senior Director of Energy and Sustainability for Greystar. Our team’s insight into the utility consumption of our managed and owned portfolios provides insight into opportunities to identify and mitigate risk. We leverage innovation and experience to ignite solutions with real impacts while tracking performance, ensuring the trendline stays laser-focused on the goal. All of us in real estate have a tremendous opportunity to make a difference in the built environment. Standing shoulder to shoulder, we will get this done. I can be contacted at: chris.laughman@greystar.com for questions, concerns, or collaboration.
The opinions expressed in this blog are my own.
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