Considering Energy Efficiency As Part Of The Reserve Fund Study (RFS) Process

Considering energy efficiency as part of the reserve fund study (RFS) process can lead to significant benefits for condominium communities. Energy audits and modeling can help identify upgrade projects that reduce the total cost of building ownership (TCBO) and improve the environmental impact of the buildings. Retrofitting existing buildings with energy-efficient measures can lead to reduced utility bills, protection from rising utility rates, better returns on investment, increased property value, and increased resiliency to climate change. Implementing energy-efficient upgrades can also result in lower greenhouse gas emissions, improved occupant health, and reduced operating costs for the condominium owners. The article provides an example of energy-efficient retrofit projects and potential cost savings. Efficiency Manitoba offers various incentives and programs for condo corporations to support energy-efficient upgrades. However, careful planning and consideration of the condominium's governing documents are necessary when incorporating energy efficiency projects into the RFS process to ensure proper funding and approval. By taking a Total Cost of Building Ownership (TCBO) approach and considering energy efficiency, condominium communities can create sustainable, cost-effective, and environmentally friendly living spaces for their residents.