The untapped value of retrofit investments |
Some of the most valuable upgrades we can make to a building are the ones no one ever sees.
A stronger roof prevents damage from hail. A tighter building envelope reduces heat loss and keeps out wildfire smoke. Better ventilation and filtration improve the air people breathe indoors.
These retrofit measures rarely show up in real estate listings or property appraisals. But these investments quietly protect people, reduce risk and improve how buildings perform over time.
And yet, when we talk about the business case for retrofits — comprehensive upgrades that generate benefits outside of energy and emissions reductions — much of that value is unaccounted for.
For years, the financial case for retrofitting buildings has been framed around two numbers: energy savings and emissions reductions. But buildings do far more than consume energy that produces emissions. They shape our health, our resilience to severe weather, the affordability of our homes and even the stability of our insurance markets. When we only measure energy savings, we miss much of the value that whole building retrofits create.
The hidden value of better buildings
When buildings are more efficient and durable, tenants experience lower costs, insurers face fewer climate-related claims and utilities see reduced demand pressures. Improved indoor air quality also delivers better public health outcomes.
In other words, better buildings........