Measurement & Verification features allow commercial buildings including Offices, Hospitals, Shopping Centres and Museums in New South Wales to tap into new way to generate revenue
San Francisco – March 3, 2015 – BuildingIQ, a leading energy management software company, today announced that its Measurement & Verification (M&V) module has been named an approved way to directly generate Energy Savings Certificates (ESCs) under the New South Wales Energy Savings Scheme (ESS). The ESS awards commercial buildings that can verify energy reduction as a result of energy efficiency upgrades with ESCs. BuildingIQ customers who have deployed its M&V module are now eligible to receive certificates from the ESS. Certificates can then be purchased from building owners by electricity retailers, thus creating a new source of revenue for local businesses and reducing the region’s environmental footprint.
BuildingIQ worked with Sigma Global, experts in the environmental markets, to obtain accreditation for its M&V capabilities. Moving forward Sigma Global will serve as the interface between building owners and electricity retailers. Revenue generated from the sale of these certificates varies based on supply and demand. Each certificate represents approximately one megawatt hour saved, and has historically been worth between $10 and $32 AUD.
“Our BuildingIQ platform is the perfect tool for taking advantage of the Energy Savings Scheme and reducing operating costs at the same time,” said Michael Nark, CEO of BuildingIQ. “Our software has been seamlessly integrated into hospitals, shopping centres, museums and commercial buildings across New South Wales that can now easily start generating certificates. Essentially these buildings have the opportunity to tap into a new source of funds and get rewarded for reducing energy costs.”
BuildingIQ’s energy management platform utilizes Predictive Energy Optimization™ to automatically fine-tune a building’s heating and cooling operations based on predictive analytics and advanced algorithms. The software’s M&V module allows a building to create a baseline of energy usage that reductions can be compared to and verified against. This allows the impact from BuildingIQ’s software, as well as a building’s other energy efficiency upgrades, to be easily identified. Using this technology streamlines the ESS certificate approval process and makes it significantly easier to calculate savings from future upgrades as the verification infrastructure is already in place.
“For a building to have a solution in place that is able to identify changes compared to a baseline is tremendously valuable,” said Schalk Meliëzer, Sigma Global. “The accreditation of BuildingIQ’s M&V capability for this program is testament to its accuracy. It makes the certification process much simpler and allows us to capture the maximum amount of revenue possible through the scheme.”
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 Aster Capital (backed by Schneider Electric, Alstom and Solvay), the Venture Capital unit of Siemens Financial Services (SFS VC), Paladin Capital 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 2014 National Energy Efficiency Industry Award for Best Commercial Energy Efficiency Project, 2013 Bloomberg New Energy Pioneers Award, Fierce Innovation Awards’ “Best in Show”, a 2013 Cool Vendor in Green IT and Sustainability by Gartner and listed on the 2014 Global Cleantech 100 and AlwaysOn Going Green Global 200.
About Sigma Global
Experts in environmental markets including energy efficiency, renewable energy and carbon markets. Sigma Global works with organisations to generate revenue in the environmental markets such as the NSW Energy Savings Scheme and the Emissions Reduction Fund in Australia. Moreover, Sigma Global helps organisations to benefit from these schemes when commercialising clean technologies. Sigma Global also assists companies to design and implement strategies that reduce the costs of complying with energy efficiency, renewables and carbon legislation.
Vantage PR for BuildingIQ
Sean Welch, +1-407-767-0452 ext. 228