Commercial, Demand Management, Energy Efficiency, Commercial, Solar - April 20, 2017
Regency Centers cuts energy use 21% in 5 years
Shopping center owner, operator and developer Regency Centers Corp. has reduced its same-store energy consumption and greenhouse gas emissions by more than 20% in five years, besting its reduction target date of 2021.
The company said April 20 that its reduction targets focused on areas within the company's operational control, and were based on industry-leading benchmarks, including the Department of Energy's Better Buildings Challenge. Regency's original targets, set in 2011, were to reduce same-store energy consumption and greenhouse gas emissions 20% by 2021.
Since 2011, Regency said in a news release that it has reduced energy consumption by 21.4% and greenhouse gas emissions by 29.8% through significant investments to improve its environmental performance, including the issuance of a $250 million green bond that was the first for any U.S. real estate investment trust and the second for a U.S. corporation. Other accomplishments included:
- Certification of 16 development projects, totaling more than one million square feet of retail space, under the U.S. Green Building Council's LEED program.
- Installation of high-efficiency irrigation systems at more than 130 properties located in drought-stricken and water-stressed regions.
- Conversion of 86 properties' exterior lighting to high-efficiency and DarkSky compliant LED fixtures.
- Development of more than 1 MW of photovoltaic solar power.
"Regency's attainment of these goals, and track record of environmental excellence, demonstrate our position as an industry-leader," said Lisa Palmer, President and CFO of Regency Centers. "As we look forward, we will continually set new goals to raise the bar for excellence in environmental performance across our portfolio."
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