Environmental upgrade agreements for energy retrofitting

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Environmental upgrade agreements (EUAs) offer building owners and tenants the opportunity not only to finance energy efficiency and make productive use of this wasted money but also to enhance value, above simple productivity gains. Historically, energy efficiency projects have been focused upon either tenant upgrades or base building upgrades—and generally never the twain have met. EUAs challenge conventional assumptions that the efficiency interests of tenants and building owners cannot be aligned and enable benefits to be realised by each party… EUAs were developed to assist in the real world of unlocking the opportunities of energy efficiency. They are a voluntary three-way agreement between a building owner, a financier and a council that provides access to funds for environmental retrofits. The funds advanced are repaid through the council rates system by a special charge—the EUC—which can be shared between building owners and tenants… In Victoria, EUAs are available under the City of Melbourne’s 1200 Buildings program… Read the full story, ‘EUAs and the retrofit potential explained’ by Scott Bocskay of Sustainable Melbourne Fund at the Fifth Estate website.

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