Eligible projects may qualify for funding from the Office of Environment & Heritage for M&V projects
Sydney – September 21, 2015 – BuildingIQ, a leading energy management software company, today announces that it has been named an approved supplier for Measurement & Verification (M&V) services by the New South Wales Office of Environment & Heritage. The OEH initiative aims to accelerate the uptake of energy efficiency in NSW by supporting up to 70 new M&V projects over the next two years to help achieve annual energy savings of 16,000 gigawatt-hours by 2020, as outlined in the NSW Energy Efficiency Action Plan.
BuildingIQ’s cloud-based platform uses advanced algorithms and predictive analytics to reduce HVAC operating costs in commercial buildings by as much as 25 percent, without the need for manual intervention. With the platform’s M&V module, which uses processes that are consistent with the International Performance Measurement and Verification Protocol (IPMVP), BuildingIQ compares past energy usage to present, and makes savings transparent. BuildingIQ projects are now potentially able to access funding from the NSW Government that contributes up to 80 percent (capped at $15,000) toward the cost of eligible measurement and verification projects.
Once BuildingIQ’s platform is operational it can then be used to generate Energy Savings Certificates under the Energy Savings Scheme (ESS). These certificates are sold by the building owner to electricity retailers for additional revenue.
“The proven effectiveness and design of the BuildingIQ platform has enabled us to get in on the ground floor of New South Wales’ M&V initiatives,” said Michael Nark, CEO of BuildingIQ. “Through these programs, we are delivering even more value to our clients by capitalising on every opportunity to create free cash flow. As a NSW Government approved supplier for measurement and verification services, we’re able to bring these capabilities and the resulting savings to even more businesses in New South Wales.”
To learn more about the new M&V program, visit www.environment.nsw.gov.au/business/energy-saver.htm
BuildingIQ is a leading provider of advanced energy management software that actively predicts and manages HVAC loads in commercial buildings. As the only supplier of patent-pending Predictive Energy Optimization™ technology, BuildingIQ’s cloud-based solution is powering energy and operational savings in buildings across the globe with reductions in HVAC energy costs by as much as 25 percent. BuildingIQ delivers measureable results and has received backing from tier one industry leaders including the Venture Capital unit of Siemens Financial Services (SFS VC), Paladin Capital, Exto Partners and the Energy Division of the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
Recognized as a leader in its industry, BuildingIQ most recently was named winner of a National iAward for Sustainability, a National Energy Efficiency Industry Award for Best Commercial Energy Efficiency Project, Bloomberg New Energy Pioneers Award, Fierce Innovation Awards’ “Best in Show”, a Cool Vendor in Green IT and Sustainability by Gartner and listed on the Global Cleantech 100 and AlwaysOn Going Green Global 200.
Vantage PR for BuildingIQ
Sean Welch, +1-407-767-0452 ex 228