Extra Space Storage Inc. (NYSE: EXR) announced they have joined the well-known Energy Star program as a partner with the U.S. Environmental Protection Agency, working to improve energy efficiency and fight climate change through a strategic, corporate energy management program that will enhance the organization's financial health and help preserve the environment for future generations. This development follows a recent similar endeavor by the company to embark on a solar initiative to install 100,000 solar panels in facilities across the country during the next five years at the rate of 20,000 panels per year.
Extra Space Storage, the second-largest operator of self storage companies in the United States with more than 850 facilities in 34 states, is leading the way in solar energy use and sustainability initiatives in the self storage industry.
"Extra Space Storage is pleased to become an Energy Star partner," said Spencer Kirk, Chairman and CEO. "Through this partnership, we will demonstrate our commitment to environmental stewardship and lower our energy costs by improving the energy efficiency of the properties we own and manage."
In partnership with Energy Star, Extra Space Storage will:
• Measure and track the energy performance of the company’s facilities where possible by using tools such as those offered through Energy Star;
• Develop and implement a plan consistent with the Energy Star Energy Management Guidelines to achieve energy savings;
• Help spread the word about the importance of energy efficiency to staff and the community;
• Support the Energy Star Challenge, a national call-to-action to help improve the energy efficiency of America's commercial and industrial buildings by 10 percent or more;
• Highlight the company’s achievements with recognition offered through Energy Star.
"Improving the energy efficiency of our nation's buildings is critical to protecting our environment," said Jean Lupinacci, Chief of the Energy Star Commercial & Industrial Branch. "From the boiler room to the board room, Energy Star partners are leading the way by making the buildings where we work, play and store more efficient."
Energy Star was introduced by EPA in 1992 as a voluntary, market-based partnership to reduce greenhouse gas emissions through energy efficiency. Today, the Energy Star label can be found on more than 60 different kinds of products as well as new homes and commercial and industrial buildings that meet strict energy-efficiency specifications set by the EPA. Last year alone, Americans, with the help of Energy Star, saved $18 billion on their energy bills while reducing the greenhouse gas emissions equivalent to those of 34 million vehicles.
In the United States, Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust that owns and/or operates 820 self storage properties in 34 states and Washington, D.C. The company's properties comprise approximately 525,000 units and more than 57 million square feet of rentable storage space offering customers conveniently located and secure storage solutions, including boat storage, RV storage and business storage. Extra Space Storage is the second-largest owner and/or operator of self-storage properties and is the largest self storage management company in the United States.
Sources Used:
“Extra Space Storage Announces Sustainability Initiatives.” Yahoo Finance. August 2, 2011.
Gonzalez, Tony. “Extra Space Storage Leads the Way in Solar Energy.” Self Storage Industry News. July 29, 2011.