One of the most exciting initiatives to date in the region is the Energy Efficiency Partnership of Greater Washington and the Chesapeake Crescent – public/private partnerships that promote green building.
The original announcement of the Partnership between the capital region, Virginia Tech, Hannon Armstrong*, and Pepco Energy Services** took place last fall.
The Chesapeake Crescent is described as an “organization pushed by business forces and enthusiastically supported by the governors of Maryland and Virginia and the mayor of the nation’s Capital City. The idea is that it will serve as a national example of collaboration across city and state lines, tied to 21st century priorities of radical energy savings, compact, transit-accessible development, and a sustainable environment.”
According to a press release, George Vradenburg, who heads up the Chesapeake Crescent states, “It’s just too tough to change behavior of local governments. Why? They instinctively chase commercial jobs for their rich revenue base, and drag their heals on less-tax-lucrative housing opportunities. So housing gets pushed out, with sprawl clogging the roads — an unsustainable growth pattern. The “tragedy,” Vradenburg adds, is that local leaders know the bad result but simply “can’t change their behaviors.” Vradenburg is former executive of AOL, CBS Inc. and Fox Inc.
“Greening” of office buildings with energy retrofits can save $3.6 billion yearly in the immediate Washington area alone. The capital markets firm Hannon Armstrong, in partnership with Virginia Tech and Pepco has committed $500 million to finance private office building energy efficiency programs. The investment will be paid back entirely from the energy savings, with no upfront investment by the owner. The same could be done for government buildings, with immense greenhouse gas emission cuts, notes Vradenburg.”
The initiative had a tremendous response from its onset, exceeding expectations. Big name corporations are lining up to lease green buildings; such as BP - remember, they changed their name from British Petroleum to Beyond Petroleum, in order to be perceived as “Green Friendly.”
Whatever the motivation, this is an exciting initiative between the public-private sectors; moving forward with strong action instead of hollow words. It’s good for the economy and good for the environment at a time when it is sorely needed.
* http://www.hannonarmstrong.com/hannonarmstrongwelcome.html
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