by Michael Nark, CEO
March 5th, 2015
If you are in the commercial building or energy efficiency industry, most likely you’ve heard about the US Department of Energy’s (DOE) Better Buildings Challenge, but you may not be familiar with it. The goal of this program is to make commercial buildings, multifamily housing, and industrial plants 20 percent more energy and water efficient by 2020. Why is this significant? The DOE estimates that on average American buildings, excluding manufacturing plants, waste a combined $60 billion in energy each year. The Better Buildings Challenge is helping match buildings with solutions that can deliver savings and not making promises that can’t be backed up.
The Better Buildings Challenge is a national program that is split into individual chapters located in major cities to tackle the energy waste problem on a local level. Take Los Angeles for example. The City of Angels has made a major commitment to energy efficiency and is one of the few cities that have set up an Office of Sustainability, so its support of the Better Buildings Challenge was a natural fit. In addition, the local chapter is partially funded by local utilities LADWP and SoCal Gas Company. However, the program’s strength comes from its technology partners, and we at BuildingIQ are thrilled to be part of this effort.
Becoming a technology partner involves going through a strict and comprehensive vetting process, as it should. BuildingIQ’s partner Pario Asset Advisors was the driving force behind getting our technology approved. Pario Asset Advisors is a well-established name in the LA community with deep ties to the decision makers within the local real estate market. The company recognized the potential for BuildingIQ’s technology to make big impacts within the community. Among the requirements for becoming a technology partner was to obtain 3rd party verification of the technology. The LA chapter of the Better Buildings Challenge hired an independent 3rd party engineer to investigate our technology. The engineer examined submitted materials and case studies to verify that BuildingIQ was in fact delivering the savings that it reported.
BuildingIQ already holds itself to the highest standards and has been 3rd party certified numerous times in the past. Our Measurement & Verification (M&V) module also uses processes that are well documented and consistent with the industry-standard International Performance Measurement and Verification Protocol or IPMVP, ensuring the highest standards. Thus the review of our technology by the Better Buildings Challenge went very smoothly.
Essentially with this approval to become a technology partner, the Department of Energy is putting its faith in BuildingIQ’s platform based on our track record of effectively delivering results. According to Pario Asset Advisors, this approval will also make it easier for buildings to obtain available rebates with the BuildingIQ energy management platform in place due to the program’s relationship with the local utilities. However, being a technology partner is more than just rebates.
The validation that BuildingIQ has received through programs like the Better Buildings Challenge, from delivering verified savings in millions of square footage and from numerous prestigious awards is extremely important. It is easy to claim that your technology is benefiting buildings, but we have found ways to prove it without a doubt. It may feel odd to turn over the reins of a building to a cloud-based platform that is using a type of artificial intelligence to make automatic changes, however the power of our technology is undeniable. We are able to see 10-15 steps into the future to create the greatest path to energy efficiency. Working with the Better Buildings Challenge is a great way for us at BuildingIQ to start improving the energy landscape of Los Angeles. We are looking forward to replicating this effort in other important metropolitan areas in the USA.