Five-figure savings within first month of deployment for energy optimization effort at a leading retail REIT
A leading real estate investment trust, faced challenges in reducing energy consumption without impacting guest comfort at properties across the country. Within the first month of partnering with Buildings IOT for automated demand management, the REIT achieved more than $10,000 in energy savings at a single property. And the savings haven’t stopped there.
To initiate the portfolio-wide energy savings program, Building IOT was presented with a small group of buildings, including one with a substantial number of ongoing and unresolved issues.
Upon deploying the automated demand management program through the Buildings IOT technology onPoint, it became clear that energy savings were not going to reach the projected amount because there were too many problems across too many airside equipment.
The challenges were twofold: first, there were 17 units that failed to contribute to energy savings due to disqualifications including inability to maintain setpoints and fans that had been running 24/7 for more than a year. Second, even on the seven units that were ready for action, there was room for improvement across the operations and controls strategy in order to reap the full benefits of the ADM program.
Moreover, there was a historical lack of awareness regarding certain issues affecting their buildings. Despite data being available, it had not been presented in a way that made it easy to act quickly, and the incentive for resolution wasn’t always clear.
The Buildings IOT onPoint ADM program is delivered alongside its leading fault detection and diagnostics engine, which clearly identifies issues that impact an equipment’s ability to participate in the demand management program. Using the Buildings IOT FDD as their guide, the operations team at this mall was able to clearly see where the issues were, and the executive team who spearheaded the program as part of their sustainability initiatives were able to provide swift approval to complete the work necessary to achieve the results they expected.
What Buildings IOT did
The Building IOT analytics technology dove deep into the real-time and historical data of the airside equipment at this property and in so doing, automatically identified and categorized the issues against the requirements for participation in the ADM program. The onPoint user interface clearly and visually relates the top issues to the equipment that is meant to be enrolled in the ADM program. For equipment that has too many breaking issues, the UI presents a direct link to a Disqualified list which details the problems that are preventing each equipment from participating.
The executive dashboard allowed the REIT management to quickly see that 70% of their airside equipment was disqualified from the demand management program, thereby severely limiting their potential for savings.
The Buildings IOT onPoint ADM program provided the incentive they needed to resolve ongoing issues at this site and across their portfolio. As a result, they have achieved 84% enrollment of eligible equipment at this site.
The resolution of just one disqualifying issue resulting in more than $10,000 in energy savings within the first month of deployment, with savings ongoing from there. Costs avoided on equipment failures could reach up to $48,000 in the first year.
Furthermore, the proactive approach to presenting information as a barrier to savings proved highly effective. The REIT, now motivated by the potential return on their investment, not only rectified immediate issues but also demonstrated a willingness to engage in ongoing energy efficiency initiatives.