Greystar

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OVERVIEW

ENERGY EFFICIENCY DILEMMA (PROBLEM)

Founded in 1993, Greystar is the largest for-rent owner on the planet. Blue Sky Power serves as Greystar’s Energy Project Developer and Consultant. We develop and manage clean energy projects at Greystar’s properties with an emphasis on efficiency, resiliency, regulatory and fund compliance, sustainability, and cost savings. Greystar has strict sustainability requirements for each of their properties, as well as a desire to create the best possible environment for tenants through cost-effective efficiency strategies and innovative resiliency measures.

BLUE SKY SOLUTION

To accomplish these goals, Greystar partnered with Blue Sky Power. In 2016, Blue Sky Power kicked off a landmark sustainability effort and clean energy strategy in the form of a specially tailored Energy Master Plan to be implemented throughout Greystar’s portfolio across the nation. This plan found and implemented energy efficient practices in three crucial areas: sustainability; clean energy infrastructure and efficiency; and energy savings. This includes signing cost saving contracts with electric suppliers in deregulated states as well as purchasing from clean, renewable energy sources in order to reduce the company’s carbon footprint. It also includes Blue Sky Power developing a 285kW trigeneration microgrid at Greystar’s latest development at Mississippi State University, providing 100% renewable energy at Cornell’s new development, and undertaking solar, battery storage and other clean energy projects.

THREE AREAS OF IMPACT

The real-world benefits to Greystar:

SUPPORTING CORE MISSION

“Live Here, Live Well” is not just a catchy motto, but a standard by which Greystar approaches the quality of service it offers to its residents all over the country. Providing facilities that are not only efficient but resilient and cost-effective is exactly what Blue Sky Power has been able to do for Greystar. In order to provide state-of-the art collegiate housing at affordable prices, saving millions of dollars on energy expenses has allowed Greystar to maintain competitive pricing on superior living facilities while also achieving its goal of increased clean energy utilization.

SAVING MONEY

  • By constructing a 285kW Trigeneration Microgrid at MSU, Greystar will achieve $3.27M in savings
  • $1M in energy procurement savings
  • $800k efficiency & demand reduction savings

ENVIRONMENTAL IMPACT

By building a clean, modern trigeneration microgrid at MSU, purchasing 100% renewable energy at Cornell, and implementing Blue Sky Power’s suggested efficiency and demand reduction measures nationwide, Greystar has significantly reduced its carbon footprint and will continue to make further carbon reductions at its current collegiate communities and new developments across the country.

The sustainability component of the Energy Master Plan will increase the efficiency of Greystar’s current and planned communities, as well as engage residents and staff in programs to reduce energy consumption through automation and education. The communities will receive energy audits and feasibility studies on ways clean energy can be produced at and for the properties themselves.

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