June 11, 2014
AB 1103: 2 Weeks Away For New Requirements!
AB 1103 was passed this year and it requires an energy benchmark of all properties that are sold & leased that are greater than 10,000 sq feet. On July 1 of 2014, AB 1103 will start covering all properties that are greater than 5,000 sq feet.
The AB 1103 report is basically inputting the last 12 months of energy usage for each meter into a central system. Then, the system will provide a “score” on how efficient the building is and that piece of paper with the score on it will need to be included when the transaction is closed.
We need to collect 12 months of energy usage data for each meter in the property. Then, we will upload & input that information into the Energy Star system. In addition, there will be a few more pieces of information that we will need to include (operational hours, # of computers, etc.) and the energy star program will give us a rating based on various factors.
We print out the sheet and include it in the transaction!