Colorado is in the midst of a housing crisis, and a proposed rule before the Colorado Air Quality Control Commission could worsen already strained budgets for countless renters across the state.

Regulation 28, set for consideration Thursday by the Air Quality Control Commission, would mandate significant energy consumption reductions and establish energy and emission “performance benchmarks” for around 8,000 large buildings, according to state estimates. The rule mandates a 7% energy use cut by 2026, and 20% by 2030 for “covered buildings,” under the rule more than 50,000 square-feet. Consequently, that encompasses countless large multi-family complexes across Colorado.

In order to comply with these mandates, many older buildings would be forced to completely electrify over the next six to seven years.

That’s bad news if you rent or own in one of these large complexes, as you’re likely to get stuck with the bill when landlords and building owners completely re-engineer heating and electrical systems to comply with the rule.

In the state’s economic impact analysis of Regulation 28, they explicitly admit “landlords might pass on some or all of the cost of implementing this rule to their tenants, which will lead to higher rents.” The state’s rebuttal to the AQCC also plainly acknowledges tenants may experience a “spike” in rent because of this rule. Even more concerning, the state’s rebuttal could not guarantee this rule will produce net cost savings for tenants between rent and utility bills.

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The additional costs associated with Regulation 28 will be difficult for many renters in Colorado to afford. A recent study found since 2009 metro Denver apartment rent inflation has surpassed income gains by a greater margin than in any other major city in the country. Policies that amount to forced electrification, like Regulation 28, will only add to the ever increasing cost of living in Colorado.

Before considering this regulation the state should be transparent and provide additional detail on direct costs the general public could incur because of this rule. Working Coloradans, and especially renters, deserve to know how much Regulation 28 will impact their family budgets.

In addition to higher rent, many tenants will inevitably lose access to their existing gas appliances and heating systems as buildings re-engineer to comply with this electrification mandate. That could present another problem, as there are increasing questions about the viability of electrification to totally replace natural gas heating in Colorado. A new study from the National Renewable Energy Laboratory and Xcel indicates electric heat pumps perform 10% worse on Colorado’s Front Range than at sea level, and cannot perform reliably when the temperature drops below 40 degrees. For obvious reasons, that could pose additional challenges for large complexes that electrify without sufficient access to backup heating sources.

Given these concerns, it is crucial for regulators to take a step back and thoroughly evaluate the potential impacts of Regulation 28. Reducing emissions by gradually electrifying buildings over time is a laudable goal, but Regulation 28’s limited compliance pathways for building owners could have serious unintended consequences for the most vulnerable in our state.

A transparent and detailed economic impact analysis and careful consideration of additional options for building owners to pursue emission reductions should absolutely be considered before the AQCC makes a final determination on this regulation.

We hope the state will slow down and take a measured approach that will promote equitable, affordable housing and reliable energy access for all Coloradans.

Tyrone Adams is CEO of Colorado Association of Realtors; Sara Blackhurst is CEO of Action 22; and Anthony Trujillo is business manager for LIUNA Local 720.