Posted by David Krulac on November 16, 2009 at 12:16:56:
In Reply to: Re: Going Green posted by Prosperity Group on November 15, 2009 at 20:39:34:
Did you give me your card in Ohio?
You're right incentives are not always there for the small invetsor.
This year I've done a bunch of work with NO incentives. I've replaced furnaces, replaced sidding, added insulation, (R-50 ceiling in 1850 building), new water heaters, new windows, even dug up a state highway to run natural gas into an 1872 building that didn't have gas before. That required a state permit, blocking off 1/2 of a state highway,2 flagmen, a backhoe, dump truck and police manually operating the traffic light at the corner.
But for me it was worth it. Several of the buildings had work done to make the heat a tenant expense and not an owner expense. Besides upgrade with more efficient heating equipment switching from oil to gas also saved money. Tenant paid utiliities are 20% lower than the same utility paid by the owner. On 1 building the heating costs decreased by 62%. Another building the heat costs were reduced by 66%. another building hasn't been through a winter yet, but I'm expecting an 81% drop in heating costs.
One 1890 building we repalced 37 windows, some of which were bigger than used in today's building. Almost all the windows were original 1890 single pane, double hing windows. The window company guarenteed 50% heating savings. not sure if windows alone would have met that goal, because we did other insulation, siding and new furnaces at the same location.
Another investor, I know has a building with 118 windows. It is not cost effective to replace that many windows. So you have to pick and chose the best uses of your money. Its inevitable that energy costs will rise, so conservation measures will have great pay back in the future than today. You start with the lowest cost items like CFL and flow restrictors and work your way up as far as you feel comfortable and your wallet permits.