Commercial, Energy Efficiency, Distributed Generation, Solar, Sourcing Renewables - June 2, 2016
Kimco Realty reports 15% energy use reduction, continued progress with rooftop solar
Amid continuing efforts toward energy use reductions, real estate giant Kimco Realty recently reported a 15% reduction in same-site energy consumption at properties within its operational control since 2011.
In a news release aligned with the release of Kimco's corporate responsibility report, the company credited the reductions to "significant investments" in property efficiency upgrades and adoption of management best practices. Looking broadly at what the company classifies as "sustainable improvement projects," Kimco said it invested $9.7 million in 172 projects in 2015.
The company has also established itself as a leader in renewable energy, specifically solar, deployment at its properties, and in 2015 reportedly produced 3,380 MW per hour of solar energy. In the report, Kimco said it began using a pioneering model for landlord financing and development of rooftop solar systems that supply electricity directly to tenants.
The company wrote:
Developing each of our six solar projects involved a partnership between Kimco and one or more retailers, with Kimco owning and operating the solar power system and the retailer agreeing to purchase discounted power over a multi-year period. Combined, these six solar-enabled properties represent three megawatts of installed energy production capacity, enough to power approximately 300 households.
Another notable element of Kimco's report is the average 18% reduction in common area energy use at shopping centers within its property gateway system. The company's efforts in lighting, specifically, won awards from the U.S. Department of Energy Lighting Energy Efficiency in Parking program in both 2014 and 2015 for the number of properties involved as well as innovation in the technologies deployed, according to the report.