Last week Saratoga attended a meeting and presentation about the upcoming Clean Buildings Performance Standards (CBPS) affecting many of our managed properties. Legislation in Washington State passed the State Energy Performance Standard, which aims to reduce greenhouse gas emissions by improving energy efficiency in existing buildings across the state. Currently there are two tiers to this program—Tier 1 pertains to buildings over 50,000 square feet and Tier 2 pertains to buildings 20,000-50,000 square feet. Tier 1 has Energy Use Intensity (EUI) targets with a compliance deadline of June 1, 2028, and Tier 2 requires only reporting at this time—management and maintenance plans as well as energy use benchmarking to be submitted by July 1, 2027. Tier 1 must meet EUI targets and follow additional requirements such as energy audits, operations & maintenance plans, and energy management strategies. Tier 2 does not yet require meeting energy targets, though it will be necessary to submit the required reports by the deadline. Compliance documentation for Tier 2 includes measuring and tracking energy usage and major utilities, a formal energy management plan that assigns roles and outlines strategies to optimize energy use, and document and maintain an operations and maintenance program that details procedures for maintaining the building systems and capital improvements. The reporting will need to be submitted every five years and may include meeting targets in the future. To incentivize early compliance, the State is offering payments to Tier 1 and Tier 2 building owners that demonstrate early compliance and/or benchmarking with CBPS.
Saratoga Commercial Management is committed to providing the highest level of professional asset management and will continue to navigate this new legislation.
Resources:
Clean Buildings Performance Standard (CBPS) – Washington State Department of Commerce
