Cooperation between public and private sector has achieved a remarkable widespread, in the Italian context, over the last two decades. Nevertheless, the increasing difficulty in accessing the capital market and the rising cost of funding sources, both noticeable over the past few years, led to a slowdown of Public–Private Partnership (PPP) initiatives. Meanwhile, the community is expressing new needs to be satisfied, such as the conversion of brownfields, the recovery of housing stock dating back to former times, as well as the refurbishment of public offices or schools.

Cost savings from efficiency gains are at the core of the green building business case. Significantly lower energy bills are said to be a major factor in the green rent premium observed in earlier studies. Our study tests this relationship by inferring energy costs from operating expenses for a large dataset of U.S. office buildings and relating them to rental rates. We find that eco-certification is associated with a higher than anticipated total energy expenditure, which is the opposite of its expected effect.