Curb M10, equipped with 10 energy sensors (CT clamps) that can monitor all the key electrical activities in a home, will allow for accurate tracking of appliance energy usage and aid homeowners and operators in lowering rising energy costs through actionable insights delivered via the Curb app, web interface and email reports. In addition, M10 will track solar production data with its continuous cellular connectivity capabilities and monitor high home energy consumers, such as HVAC systems, EV chargers, water heaters, pools, stoves/ovens, clothes dryers, lighting and more.

M10 is the latest device to connect with Elevation’s Curb cloud-based, AI-enabled smart energy engagement platform. When deployed in a home, Curb receives energy usage data from thousands of sensors in real-time and mines this information to provide actionable insights on energy efficiency patterns and device health. For instance, Curb M10 could predict an HVAC outage or malfunction in advance, mitigating expensive and frustrating repairs or replacements. M10 represents the latest evolution of the Curb product line and pairs years of available Curb’s intelligent, actionable home energy data with new features focused on improving connectivity, reliability and ease-of-use.

Rental operators are increasingly seeking solutions that will enable them to invest in the efficiency and longevity of their portfolio homes for both the betterment of the environment and their bottom line. Curb M10 offers the SFR industry a scalable, easy-to-deploy solution for lowering operating costs and emissions with real-time data monitoring and insights. Similar to existing products in the Curb family, M10 is also designed to empower residents to optimize their relationship with energy through its user-friendly interface and advanced communication capabilities.

“Curb M10 arrives at a time when eco-friendly features continue to be preferred by both renters and homeowners nationwide,” said Greg Fasullo, CEO of Elevation. “Across most SFR portfolios, energy bills are the second-highest cost for tenants after rent. We’re excited to introduce the M10 as a scalable solution for portfolios of all sizes that will deliver measurable cost-saving benefits for operators and residents. With reliable connectivity, a reduced installation time and a more seamless configuration interface, M10 will bring energy efficiency insights and invaluable real-time data to consumers and operators.”

With energy prices expected to remain high throughout 2023, M10 is poised to become an essential and impactful solution for the residential real estate industry. In the face of a historically turbulent housing market, there is a tremendous opportunity for both operators and residents to take greater control of their energy use, carbon footprint and costs with efficiency and technology upgrades. With the launch of M10 and its existing portfolio of whole home energy solutions, Elevation remains committed to offering rental operators solutions to lower emissions, reduce utility costs and improve tenant comfort.

To learn more about the M10 energy monitoring device, please visit: https://www.poweredbyelevation.com/curb-energy-monitoring

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About Elevation

Elevation is a fully integrated residential energy solutions company. As a leader in clean energy technology including solar, energy efficiency, and smart energy management platforms, Elevation takes a whole home approach to energy and sets the industry standard in its deployment of technology to homeowners, institutional operators of single-family rental properties, and utility providers.

As a 2019, 2020, and 2021 Contractor of the Year recipient by the U.S. Department of Energy, the Elevation team possesses extensive knowledge in both the single-family rental market and residential solar spaces. Elevation goes beyond solar to create an Elevated Home and collects data to analyze the direct impact of its solutions. In just one year, Elevation’s customers helped to avoid 128,738 tons of carbon dioxide. For more information, please visit https://www.poweredbyelevation.com.

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The impact of these recent executive actions may not be felt immediately. However, forward-thinking real estate leaders have an immediate opportunity to ride this momentum, and to leverage future investments made in domestic clean energy production. These groups have an opportunity to act now to adopt solutions like solar, home energy efficiency, and monitoring – at scale – to accelerate this U.S. transition to clean energy, one rental property at a time.

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More Power to Homeowners, Managers, and Investors

In the next decade, it’s predicted that 12 percent of all new homes built in the U.S. will be single family rentals (SFR). Many of these homes are owned by larger investment groups and management companies. The DPA will reduce the costs of adopting clean energy for individual residential customers, as well as property managers owning and operating portfolios of single-family homes.

Lower costs and higher availability of materials will make energy efficiency retrofit projects in the SFR market more viable. Homes that have been upgraded with renewable generation, efficient appliances, and energy monitoring are transformed from sources of strain on the grid, to potential assets for decarbonization and utility support. What’s more, reducing emissions produced by millions of single-family homes will propel the real estate industry toward a more sustainable future.

Amid all the momentum driven by legislation and heightened private sector innovation, many American renters are still left out of the equation when it comes to residential clean energy technologies. Supply chain and cost barriers aside, we have an abundance of options for retrofitting homes to increase energy efficiency and boost clean energy production. Since renters do not own their homes, most don’t know how or if they can approach these upgrades. By leveraging local and national incentives and price structures to bring these technologies to entire portfolios at scale, SFR owners and management companies are not only lowering their carbon footprint, they are introducing more Americans to the benefits of a sustainable and efficient home. Owners that pursue clean energy projects in their rental communities are investing in the planet, and laying the foundation for their renters to one day become homeowners with mindful energy-efficient habits.

The DPA makes the integration of clean technology more accessible, both through new home construction and existing home upgrades. Many of the materials needed to complete these projects will be manufactured in the U.S., eliminating international fees or tariffs, and shortening wait times for production and delivery. And, with a two-year bridge on select solar imports from countries like Cambodia, Malaysia, Thailand, and Vietnam (currently in effect), any essential technologies or components that cannot be sourced from U.S. manufacturers will also be lucrative options for maintaining momentum of clean energy projects.

More reliable access to quality materials, from a broad variety of U.S. and international PV and battery technology manufacturers, will help SFRs reduce the carbon footprints of their portfolios – and better utilize the clean energy they generate and store. Opportunities for improving energy efficiency in SFRs are widespread; they extend beyond just energy generation and addressing inefficiencies such as improper insulation or outdated appliances. The emissions reductions that come with clean energy sourcing and enhanced energy efficiency can also serve as strong ESG proof points in real estate portfolios for investors and developers.

Taking Efficiency from Rental Communities to the Grid

U.S. reliance on foreign countries (i.e., China) has disrupted the energy supply chain, and significantly impacted the clean energy industry by extending the timelines for residential and commercial clean energy projects designed to lower emissions and support utilities in their efforts to modernize grids. The DPA will strengthen our domestic solar and grid manufacturing industries, and help lower utility costs. Coupled with low- or no-tariff imports of components from international suppliers, we’ll see increased availability and a greater variety of technologies; even small-scale retrofit projects, like those owned by SFRs, will be able to contribute to meaningful change in clean energy generation and smarter energy use.

As the industry, and society at-large, waits to see how the DPA will go into effect, SFR operators must act on this opportunity to lead meaningful change. These executive actions have been introduced at a time of increased consumer demand for clean energy and home efficiency technologies. Heightened awareness of the lasting impact inefficient homes can have on the environment presents the perfect opportunity for property managers to invest time and resources into upgrading the efficiency of their portfolios.

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1) Shift our energy perspective — the worst thing we can possibly do to power our homes is what most of us did yesterday. Reliance on the grid is financially, practically, environmentally, technologically, and geopolitically unsound. Elevation offers a sustainable alternative: the Elevated Home.

2) We shouldn’t just focus on energy production — the cheapest and cleanest energy is the energy we never consume. Reducing energy waste is crucial — and with Elevation it’s easy.

3) The solution to evolving, long-term challenges is always a relationship and not a transaction. Buying a solar system is no more of a complete solution to our home’s energy needs than a pill is the sole answer to our personal health and longevity. Elevation’s energy monitoring and optimization platform supports our home’s long-term relationship with energy.

On a national average, individuals spend close to 10% of their monthly income on utility costs. While rates fluctuate, trends over the last 10 years show that utility rates continue to increase each year. As this continues, power bills will continue to remain one of a family’s biggest expenses.

Additionally, complex electricity rate plans and time-of-use rules are difficult to understand and follow. Here at Elevation, we help homeowners take advantage of technology, home efficiency services, and ongoing monitoring in order to live more comfortably, and for less than they currently pay. With energy efficiency improvements, smart home monitoring, utility rate plans and incentives, and customized solar solutions, families can start to feel these savings almost immediately.

There are several inexpensive things you can do each month to easily cut costs and save energy in your home. Other energy efficiency improvements may cost a little bit more upfront but will save you money in the long run. The cheapest and cleanest energy is the energy you don’t use, so it’s better to fix energy inefficiencies in the home before investing in expensive products. The more efficient your home is, the better added technology and products will work in your favor. That’s where the real savings are.

It all starts with an energy efficiency audit. An energy auditor will come into your home to do real-time testing to see where your doors, walls, windows, and appliances are not efficient. They can pinpoint areas where expensive energy is leaking, perform thermal testing for warm and cold areas, and help give suggestions to remedy these issues in an Energy Efficiency Report. Under certain home insurance policies or warranties, some of these improvements are covered. The recent passing of the IRA provides homeowners the opportunity to take advantage of home energy efficiency improvements with diverse incentives that can help cut costs. The previous $500 tax credit limit has now been increased to $1,200. This credit has been expanded to cover costs of stoves, electric panels, windows, doors, and energy audits. A home energy audit will help you know what can be done to start benefiting from utility savings.

Home energy audits are powerful tools for boosting energy efficiency because they prevent you from wasting precious time — and money — addressing the wrong problems. You might think that incandescent bulbs drain the most electricity in the home, but the worst energy hog could actually be the pool pump cycling too frequently. You can also receive insight into smaller, lesser common issues that you may have never noticed. The fridge in your garage, for example, uses electricity even when it’s empty and many home appliances continue to consume energy even when not in use. An audit will report this. In short, the data gleaned from an audit is invaluable for whole-home energy solutions.

Making the right changes in your home energy use can save you up to 30% on your energy bills, increase your comfort, and help increase the efficiency of your whole-home solutions. Contact us today to schedule your energy audit.

With the challenges to powering a home affordably, reliably, and sustainably greater than ever before and recently enhanced federal incentives, Elevation is experiencing 65% year over year sales growth. The priority for Elevation is to expose more homeowners to the alternatives to continued dependence on the increasingly costly, decreasingly dependable, and environmentally impactful power grid.  This partnership with Sun Devil Athletics will drive homeowner awareness to propel Elevation’s continued growth in Arizona and beyond.

“Our partnership with Sun Devil Athletics reflects Elevation’s commitment educating Arizona homeowners on our economical and ecological energy technology solutions,” said Greg Fasullo, CEO of Elevation. “Through Sun Devil Athletics, Elevation will reach millions of qualified potential customers passionate about sustainability with solutions that benefit them and support their university on and off the field.”

Elevation’s portfolio of products and services meet the needs of every home, from renovated and retrofitted homes to new construction. Within the partnership, members of the Arizona State University community will get access to Elevation’s unique set of energy offerings, which includes:

●       Curb, Elevation’s energy monitoring platform, which connects to a home’s electrical system, giving residents real-time data to make smarter decisions about how energy is being used.

●       Energy efficiency services to measure air leakage, check insulation levels, evaluate the home’s air quality and efficiency, and identify areas that need to be sealed or insulated.

●       Solar energy installations with high quality solar panels to generate renewable energy from the sun to power the home plus energy storage to provide backup power and relief from high utility rates.

According to a study published in the scientific journal PNAS, residential energy use accounts for 20% of the greenhouse gas emissions in the U.S. The partnership between Elevation and Sun Devil Athletics will promote impactful solutions to reduce the carbon footprint made by residential homes. To learn more about the partnership, please visit https://asu.elevation-one.com

About Elevation

Elevation is a fully integrated residential energy solutions company. As a leader in clean energy technology including solar, energy efficiency, and smart energy management platforms, Elevation takes a whole home approach to energy and sets the industry standard in its deployment of technology to homeowners, institutional operators of single-family rental properties, and utility providers.

As a 2019, 2020, and 2021 Contractor of the Year recipient by the U.S. Department of Energy, the Elevation team possesses extensive knowledge in both the single-family rental market and residential solar spaces. Elevation goes beyond solar to create an Elevated Home and collects data to analyze the direct impact of its solutions. In just one year, Elevation’s customers helped to avoid 128,738 tons of carbon dioxide. For more information, please visit https://www.poweredbyelevation.com.

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The signing of the Inflation Reduction Act (IRA) has brought terms like “heat pumps” and “photovoltaics” into the national spotlight and homeowners’ vocabularies. One thing that’s flying under-the-radar: how both clean energy generation and efficient energy usage can come together for homeowners, landlords, and renters to save money and energy.

Benefits For Homeowners: Closing The Gap

The initial upfront costs of energy-efficient appliances and retrofits has long been one of the largest barriers for homeowners and property managers. The spread of rebates and tax breaks offered by the IRA will go a long way toward removing and reducing this barrier. Homeowners and property managers can now save money upfront as they add rooftop solar, install heat pumps, and switch out natural gas-powered dryers for electric, energy-efficient upgrades.

The diversity of incentives is one of the most intriguing parts of the IRA – there’s something in there for everyone.

Homeowners who have previously been on the fence about adding rooftop PV and home battery systems can make the transition with the tailwinds of a sizable tax break: a 30% tax credit that will be extended at a flat rate for 10 years is included in the IRA. This will revolutionize the demographics of Americans who can install solar and storage.

Landlords and real estate portfolio managers will be guided consistently towards smart-money investments in clean energy generation and efficiency. The diversity of incentives offered and the ability to package them together to achieve maximum savings will bring energy savings to Americans who previously have been left out, including renters, marginalized communities, and first-time homeowners.

As companies in the clean technology industry seek to help homeowners make the most of the tax credits and rebates, real-time data and energy usage monitoring tools will be key in identifying areas for immediate energy savings. Home energy audits will allow homeowners and energy services companies to seamlessly work together to create customized plans. As consumers save money from their solar, storage, and efficiency upgrades, they’ll be able to reinvest the savings into future improvements and installations.

Homeowners, real estate investors, and property managers can choose from a menu of rebates and tax credits that come with installing new, energy-efficient appliances, including heat pumps, water heaters, and stoves – with insulation ventilation, and wiring improvements included as well. Consumers can take as many of these rebates as they would like, up to a total of $14,000.

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Benefits For Real Estate Operators: Faster Scalability

Every step taken toward clean energy generation (i.e., solar panel installation) and managing energy usage within a home (i.e., insulation improvements) can be compounded. Generating energy through solar panels, storing energy in residential battery systems, and using this energy to run electric-powered appliances all work together towards increased sustainability for homeowners – financially and environmentally.

The installation of rooftop solar and/or the upgrades included in the Home Rebate program are all only the starting point for a chain reaction. Take, for example, a landlord who owns a set of four Single Family Rental (SFR) homes in a neighborhood. This landlord, as he installs rooftop solar at a discount and switches the appliances within his rentals for energy-efficient options, does so knowing that he has a return-on-investment waiting. Homes that are cheaper to heat, cool, and power and have reduced carbon footprints are extremely attractive for renters. Institutional landlords have the potential to scale these technologies and reach  millions of renters who have not had access. Simply put, there is a great opportunity to make energy use a more interactive and mindful experience for renters.

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Benefits For Clean Energy Providers: Increased Demand

As consumers rush to take advantage of these savings, energy-efficiency and solar companies will be forced to compete and innovate to find ways to meet demand. This same way of innovation and competition took place over a decade ago following the Obama Administration’s Recovery Act of 2009, which brought an estimated 900,000 jobs in the six years that followed. This corporate growth and innovation helped spur some of the companies leading the charge in decarbonizing the energy sector today.

Innovation driven by competition will not be the only industry result of the increased demand. As individual homeowners and real estate portfolio managers seek to install rooftop solar, batteries, upgraded appliances and other energy-efficient improvements, they’ll be stimulating the domestic construction and contracting industries. Electricians, plumbers, and solar installation technicians will be busier than ever. The $70B+ in clean domestic manufacturing investments provided by the IRA will drive the creation of new jobs – an estimated 912,000 new jobs per year for the next 10 years.

Holistic, whole home carbon reduction is the intended goal of the bill’s residential incentives and earmarked funding. There’s no question that homes that generate, store, and use renewable electricity will be a key part of achieving the emissions reduction goals outlined by the federal government. It will be rewarding to watch homeowners, landlords, and renters all share the benefits of this journey.

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When former President Obama signed the American Recovery and Reinvestment Act into law in 2008, it provided more than $90 billion in clean energy investments and tax incentives to promote job creation and the deployment of low-carbon technologies. This caused a boom in innovation and investments for renewable generation technologies and projects. As the market diversified, cost reductions and incentive programs made solar installations particularly lucrative for utilities, developers, and consumers. Many of the technologies that Americans use to power their homes found their roots in this time period.

Clean Energy Demand Is Rampant.

Renewable energy remains increasingly popular. It’s accelerating into the lives of everyday Americans, as the residential solar market experienced its fifth consecutive record year in 2021, growing 30% over 2020. The motivation behind this extended growth is clear – it’s about the green, in more ways than one. A survey shows that 58% of people who have installed solar panels to their home list that “solar panels are clean and don’t contribute to climate change” as a motivation for doing so. Even more – 59% list saving money on their electricity bills as a motivation.

The intersection of environment and economics is powerful, and not just for homeowners. New technologies that increase energy efficiency can be adopted at-scale, allowing everyone to experience the benefits, from everyday homeowners, to institutional landlords and real estate developers, to Americans that rent single family homes.

Efficiency Is Key.

One of the largest areas where clean energy technologies can make a quick impact to lower costs and emissions is home energy efficiency. Home energy usage makes up the largest portion of the average American’s carbon footprint. In fact, according to the U.S. Department of Energy (DOE), the average household in 2019 used energy that released an estimated 17,302 lbs. of carbon dioxide. This means that, on an annual basis, the average home is responsible for 70% more emissions than the average passenger vehicle.

So, what innovative tools are being used in energy efficiency, and where can they take us?

Smart technologies, like smart thermostats and connected apps, are leading the way. More and more homeowners, landlords, and renters are opting to replace their outdated appliances and light fixtures with smart, energy-efficient updates. As price drops in technology and legislative tailwinds like the recently-signed Bipartisan Infrastructure Investment and Jobs Act continue to converge, homes will become more efficient. In 2021, the International Energy Agency (IEA) forecasted that the stock of connected appliances, devices, and sensors would overtake the number of people on the planet.

Visibility And Connectivity Through Tech.

While increases in both the capabilities and the availability of energy-efficient appliances and technologies are exciting, they’re not enough on their own. To maximize the impact of these tools, you need to understand where your home’s energy is being used, and why. Energy monitoring tools allow homeowners, institutional landlords, and residents the ability to view, understand, and optimize their energy usage.

As the old adage states: you can’t manage what you can’t measure.

This rings true in the case of energy efficiency. An energy-efficient appliance purchase and installation will make its largest impacts – environmentally and economically – when targeted with real-time data that’s validated and actionable. Technologies that can deliver this valuable insight directly to the phones of residents and the computers of landlords will prove valuable going forward.

Real-time energy monitoring and analysis platforms are untapping opportunities for immediate impacts, and homeowners and property managers should adapt and use these technologies with the same urgency. The time to act is now. With favorable policies, increased awareness and demand for ESG in real estate portfolios, and dropping technology and electricity prices, energy-efficient homes are a sound investment. The companies that offer technology with years of aggregated data in this space are ready for their time to shine.

The focus on energy efficiency and the technology that will help us get there, faster and easier, carries a unique win-win-win opportunity: renters and homeowners can save money on their electricity bills and reduce their carbon footprints, institutional landlords can make ESG gains in their residential portfolios, and the planet and air that we all share will benefit from reduced emissions.

The future is green, in more ways than one.

In this article, we’ll review how you can establish a baseline measurement of your homes’ energy use, why you should enroll in a demand-response program, and where to go from there.

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Start By Knowing What You’re Using

The first step to conserving energy is knowing when and how much your home is using. The good news is that today’s homeowners have more tools available to them than ever before. Curb’s home energy monitoring system, for example, helps you take direct control of your home’s energy use. Curb plugs directly into your breaker panel and gives you real-time data on your energy consumption and production.

Homeowners are able to recognize unusual patterns of your energy use and discover probable issues with appliances. In addition, its mobile app allows you to receive personalized notifications and alerts regarding your energy usage right on your phone, even when you’re not home.

One you’ve used Curb to discover your baseline energy usage, it’s time to start saving. You’ll want to check with your utility company to see if they offer a demand-response program.

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What Is Demand?

Utility companies typically experience the highest demand for electricity between 3-7pm on weekdays, which corresponds with the time that most homeowners return home from work, cook dinner, and run their air conditioner or heater. These peak hours put stress on the entire system and make generating electricity more expensive – a cost that gets passed through to consumers in the form of higher rates. In a perfect world, if demand was more evenly distributed throughout the day, utilities would be able to lower costs and reduce the risk of outages.

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How Do These Programs Work?

To flatten this demand curve, many utility companies have embraced real-time demand-response programs. These initiatives go by many names – “peak-hour pricing”, “rush hour rewards”, “time-of-use plans” etc. – but all operate on the same principle: incentivizing homeowners to use more of their electricity during off-peak hours instead of during on-peak hours.

Once enrolled, the homeowner’s off-peak rate is lower than the average cost of electricity, while their on-peak rate is higher. Assuming energy use is reduced during peak hours (even if the total consumption stays the same), electricity bills will fall.

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Use Smart Thermostats To Save Further

In general, time-of-use savings programs are not new. However, in recent years, smart thermostats have opened up a whole new world of possibilities for demand-response savings. Many utility companies partner with thermostat manufacturers and offer automated savings programs to households above and beyond differentiated on/off peak rate structures.

Of all the electricity used in the average American home, nearly half of it is used on cooling and heating. For utility companies, air conditioners, heat pumps, and furnaces drive peak hours energy consumption in the summer and winter. During “energy-saving events” when demand is expected to be at its highest — such as on a particularly hot summer day — the utility company takes direct control of your home’s thermostat. In the hours preceding the “event” before peak hits, the utility sets the thermostat to start cooling your home. Then, when the event starts, your home should be cool enough to “coast” through the late afternoon without needing to run at length, reducing demand during peak hours.

Not only does this process directly save homeowners money, but utility companies heavily incentivize such programs by offering partial or full rebates on the cost of smart thermostats. They may also provide further incentives in the form of lower energy rates or cash-back offers.

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You’re Just Getting Started!

Whether enrolling in your utility’s demand-response program is your first step toward energy savings or just your latest, there’s so much more that you can do to make your home more efficient and affordable. Want to know your current home energy score? Check out our free Home Energy Score today.

In fact, single-family homes comprised nearly three-quarters of the one in five U.S. homes bought by institutional investors during the fourth quarter of 2021.

As a lucrative market, the number of SFRs is only bound to accelerate further; SFRs are predicted to encompass 12% of all new homes built over the next decade. This growth reveals a golden opportunity for SFR operators, particularly when ESG goals are concurrently increasing as a priority within the real estate industry.

Taking steps to decrease residential energy consumption and reduce dependence on fossil fuels will be consequential for those not only looking to meet ESG standards but to benefit the planet as a whole.

Residential Energy Consumption and GHG Emissions

ESG efforts, often captured through ESG scores, have become critical not only for decarbonization but also for amassing capital and achieving positive public reception. In fact, one study found that companies with higher ESG scores experienced lower costs of capital, equity and debt compared to those with lower ESG scores.

A major opportunity exists for higher ESG scores within SFRs, especially with residential energy consumption currently accounting for nearly 20% of U.S. energy-related greenhouse gas emissions. With SFRs increasing in scale, SFR operators must be scrupulous in ensuring that buildings across their portfolios are more energy-efficient and climate-friendly in order to obtain higher ESG scores.

Although rental housing inefficiencies can be attributed to various causes, building and appliance inefficiency are often great contributors to significant energy usage. With outdated infrastructure, tenants and investors remain uninformed about the most energy-draining aspects of the home.

New Energy Solutions

However, SFR operators have considerable potential to reduce energy usage, first by conducting energy audits to help determine where the most energy is being expended and even wasted. This includes identifying defective wiring, insulation or sensors that can be replaced. The retrofitting of older homes is another viable means of increasing energy efficiency. This may entail improving insulation, installing renewable energy generation sources or replacing older appliances with newer energy-efficient models.

Emerging technologies are also beginning to allow for more innovative and lower-cost methods of increasing energy efficiency, including methods providing real-time data to inform residents on energy usage and room for improvements.

Consumer Demand Pushes for Energy Efficiency

Investors aren’t the sole proponents of energy efficiency. Renters are increasingly looking for means to live more sustainably as well.

According to one report from the American Council for an Energy-Efficient Economy, when given the means to compare rental units’ energy costs, prospective renters chose energy-efficient rentals 21% more frequently. The implications of this can potentially benefit institutional landlords as well. The same report also found that renters were willing to increase their monthly rent by 1.8% on average for a one-unit increase in energy score, translating into more than $400 of additional revenue annually for landlords.

With additional support from renters, SFR operators are poised to have an outsized impact on decreasing emissions and propel the real estate industry forward into a greener future.

Further U.S. Domestication in Energy Solutions Benefits SFR Operators and Consumers  

While efforts to increase energy efficiency in homes have been in progress for years, now is the opportune time for SFR operators to expedite their energy efficiency processes.

Thanks to recent initiatives by the White House, including the invocation of the Defense Production Act, the nation is prioritizing domestic solar panel manufacturing and other long-term goals to domesticate the clean energy supply chain now more than ever before.

As a result, a more stable supply chain can be realized, allowing lower prices for those seeking to employ energy-efficient practices.  

Setting a Precedent for Energy Efficiency

With institutional investors’ sheer reach in portfolio sizes, the impactful role they need to play in lowering carbon emissions can no longer be neglected. Many SFRs have led the shift in increasing energy efficiency by announcing significant plans to retrofit. With SFRs now able to measure their energy consumption, many SFR operators will be able to report on how their homes are leading by example, setting an industry-wide standard sure to bring lasting influence.

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A considerable decarbonization opportunity exists in the energy consumed by homes. Residential energy consumption accounts for nearly 20 percent of U.S. energy-related greenhouse gas emissions. That’s more emissions than Germany puts out, and approximately the same as Brazil.

Single-family rental homes (SFRs) have recently experienced substantial growth within the U.S. rental inventory. Their share of the market is currently valued at approximately $4.4 trillion. With the SFR market projected to further expand and become 12 percent of all new homes built over the next decade, there is a huge opportunity to increase sustainability efforts.

By following a process that involves pairing focused energy-efficiency upgrades and behavior changes with data driven by technology, major carbon reductions can be achieved. Rental operators and institutional landlords will see multi-faceted impacts — they’ll maximize savings and cut extra costs while working towards a more sustainable future.

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Addressing Inefficiencies by Implementing Sustainable Solutions

Inefficiencies across SFR homes are rampant, from improper insulation to outdated appliances. In fact, American renters use nearly one-third more energy per square foot than homeowners do, especially when utility costs are fixed and bundled with rent. To address these opportunities for energy and cost savings, SFR operators must begin by conducting energy audits across their rental portfolios. These audits can pinpoint a rental property’s energy drainers and provide a tangible starting place for cutting energy usage at scale. An energy audit provides actionable data, and when weighed against the data from other rental portfolios it provides the necessary insight to define benchmarks and identify areas of improvement or success in energy efficiency.

Properly reducing emissions in SFRs comes largely through changing behavior, in the forms of both human and appliance behavior.  Improving appliance behavior includes making informed maintenance decisions, taking advantage of appliance-technology capabilities, and weighing the benefits of replacing old appliances with newer, often more energy-efficient options. None of this is possible or effective without information from regular energy audits and ongoing energy monitoring benchmarked against large data sets in the SFR industry.

After all, you can’t manage what you can’t measure.

Changes in human behavior are also aided by the same process. Rental operators and institutional landlords can make informed decisions on energy-efficiency, from smaller items such as window and door insulation, to larger system upgrades such as solar panels and residential batteries. Renters and SFR occupants can also use their desire to reduce emissions and save money to shape behavior changes. This can take many forms, including understanding and implementing best practices around heating and cooling as well as taking advantage of natural light during the day.

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Holistic Energy-Efficiency is an Investment for All

Ultimately, landlords and renters are in it together. As they work together towards energy-efficiency in rentals, they’ll share the benefits that will follow. Air quality will improve. Money will be saved. Carbon footprints, both individual and institutional, will be reduced. They’ll make their homes stand out through investing in energy-efficiency and renters will be proud to live there.

The partnership between Sparrow and Elevation brings energy solutions and technologies to residents as part of Sparrow’s commitment to sustainability which has been deeply rooted in the core values of the company since inception. Single family renters prioritize energy efficiency and conservation programs, and Sparrow’s values and focus on sustainability resonates with its residents.

With the common goal of bringing environmental and economic efficiency to rental homes, Elevation’s solutions are designed to save residents upward of 20% on annual electricity costs. The partnership will begin with a pilot this summer in Arizona, and then continue to Sparrow’s homes in various markets across the country.

“Our partnership with Elevation reflects Sparrow’s larger commitment to environmental and sustainability best practices,” said Jami Schulman, Co-Founder, President and COO at Sparrow. “With Elevation’s services we will be able to reduce our portfolio’s carbon footprint, improve grid resiliency, and provide meaningful and measurable energy savings to our residents.”

Elevation’s portfolio of products and services meet the needs of every home, from newly renovated to new construction. Within the partnership, Sparrow homes will have access to at least one of Elevation’s many energy offerings, which include:

Curb, Elevation’s energy monitoring platform, which connects to a home’s electrical system to give real-time data to make smarter decisions about how energy is being used.Energy efficiency services to measure air leakage, check insulation levels, evaluate the home’s air quality and energy efficiency, and identify areas that need to be sealed or insulated.Solar energy installations with high quality solar panels to generate renewable energy from the sun to power the home.

“We are thrilled to partner with Sparrow and together bring state-of-the-art solutions single-family homes deserve but often don’t have access to,” said Greg Fasullo, CEO of Elevation. “Our diverse set of energy products will bring residents financial savings and the ability to live in environmentally sound homes.”

According to a study published in the scientific journal PNAS, residential energy use accounts for 20% of the greenhouse gas emissions in the U.S. The partnership between Sparrow and Elevation will provide timely solutions to reduce the carbon footprint made by residential homes. To learn more about the partnership, please visit sparrownow.com or poweredbyelevation.com

About Sparrow
Sparrow is a vertically integrated national home rental company that owns and manages high quality single-family residential homes in 10 markets across the United States. Sparrow’s tech-enabled platform focuses on customer service excellence and is designed to provide a seamless living experience for its residents. With beautifully updated homes in prime neighborhoods, Sparrow has the perfect address for families looking to live easier and happier. For more information, please visit www.sparrownow.com.

About Elevation
Elevation is a fully integrated residential energy solutions company. As a leader in clean energy technology including solar, energy efficiency, and smart energy management platforms, Elevation takes a whole home approach to energy and sets the industry standard in its deployment of technology to homeowners, institutional operators of single-family rental properties, and utility providers.

As a 2019, 2020, and 2021 Contractor of the Year recipient by the U.S. Department of Energy, the Elevation team possesses extensive knowledge in both the single-family rental market and residential solar spaces. Elevation goes beyond solar to create an Elevated Home and collects data to analyze the direct impact of its solutions. In just one year, Elevation’s customers helped to avoid 128,738 tons of carbon dioxide. For more information, please visit https://www.poweredbyelevation.com.

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