Obama Announces $4 Billion Retrofit Investment

The effort will see $2 billion invested in federal buildings with no first cost for the federal government due to a financing structure whereby energy service companies perform the retrofits and building owners gradually pay for the upgrades through savings on utility bills (see “Existing Buildings a Promising Investment, Say Global Firms,”

EBN Dec. 2011).

The other $2 billion was committed by private-sector building owners and will be invested in 1.6 billion ft² of commercial building space, according to the White House.