Utility bills up to eight times higher for inefficient buildings
During the winter months when bill disparity peaks, least-efficient buildings use eight times more gas, five times more electricity and four times more oil than the most-efficient buildings
Utility bills for inefficient buildings cost up to eight times more than bills for efficient buildings, according to WegoWise.
During the winter months when electric bill disparity peaks, least-efficient buildings use eight times more gas, five times more electricity and four times more oil than the most-efficient buildings. The most expensive month for multifamily building utility bills across the U.S. is January, according to WegoWise.
Findings were drawn from WegoWise's database of more than 17,000 buildings and 1.6 million utility bills. Most-efficient and least-efficient buildings are defined as those that are in the top 10 percent and lowest 10 percent of efficiency. WegoWise holds the largest collection of multifamily housing utility data in the world.
WegoWise also found regional differences between utility expenses are heightened with the onset of winter's colder temperatures:
· In Massachusetts, utility customers use six times more gas in the winter, translating to a median bill increase of $33 per bedroom per month.
· In California, despite a milder climate, utility customers still use 70 percent more gas in the winter than the rest of the year.
WegoWise has also tracked property upgrades and resultant cost savings. The data reveals that most popular retrofits are boiler replacements and insulation upgrades, which are key to reducing winter bill spikes. Also popular are water upgrades, which help reduce water costs and electricity costs associated with water heating.