Earth Day is the perfect time to take a closer look at how your building is performing and where there may be opportunities to improve.
New Jersey is pushing more multifamily buildings to track and report energy usage; think of it as your building’s annual “energy checkup” (no stethoscope required, just data that tells you how your property is really performing). The NJ Board of Public Utilities has been notifying buildings on their Covered Buildings List in early April to comply with benchmarking by July 1, 2026. If your building is on this list or you received a written notification, you may need to complete the benchmarking process for 2024 unless certain exceptions apply.
What is Energy Benchmarking? Energy benchmarking involves inputting your building's energy performance into the US EPA Portfolio Manager tool. This includes electricity, natural gas, fuel oil, propane, water, sewer consumption, and green power. The tool analyzes your building's energy consumption, compares it to similar buildings, and provides a performance rating from 1 to 100. Buildings scoring 75 or higher may qualify for Energy Star Certification.
Benchmarking helps you understand how to save on operational costs, attract tenants, and increase property value by tracking and improving energy performance over time.
NJ Energy Benchmarking Requirement The 2018 NJ Clean Energy Act mandates annual benchmarking for commercial buildings ≥ 25,000 SF, starting in 2023 and required to submit annually. Commercial buildings are defined as Class 4A (Commercial) and Class 4C (Residential) based on property tax assessment.
Received a Notice? If you received a notification, your building must comply with the new energy benchmarking requirement. Falcon’s certified professionals are here to assist you with the process and navigate any exceptions.
Falcon has over a decade of experience in energy benchmarking. Our certified NJ Benchmarkers are ready to help as New Jersey implements its clean energy and emissions reduction programs.
