Data is the answer; but are you asking the right questions?
Key Takeaways from the Spring Energy & Real Estate Events Circuit
It’s an exciting time to be at the nexus of energy and the built environment. The sheer number of events focused on energy, achieving net zero goals, and climate proptech indicates both a rapidly growing need and a demand for further understanding and insight. Here are our top takeaways from the spring circuit of conferences and events we participated in focused on evolving the energy transition in the Commercial & Industrial (C&I) industry.
Data is the foundation on which sustainability and clean energy decisions should be made, but you need the right blueprint to build on that foundation.
Across multiple events, with various types of stakeholders represented, the message is clear: data is the magic decoder ring for getting the answers to the built environment’s most pressing sustainability and clean energy questions, but if you’re not working on the right question, your efforts could go off track from the start.
Property owners need insights into how their buildings are operating, across systems and across their portfolios. They need to understand their current energy usage patterns and costs in order to identify areas for optimization and reduction before implementing new technologies or strategies. The right data is critical for generating the strategic insights needed to assess which combination of technologies and processes will deliver the best outcomes and results. By analyzing data on energy costs, usage patterns, optimizations, and potential savings, property owners can make informed decisions about which solutions to implement and when.
If accessing and tracking that data sounds challenging, Blueprint Power’s proprietary metering hardware (DIGBOX®) and online Portal can help customers tap into highly granular data at a building systems level (e.g. chillers, cogeneration units, etc.). The Portal will display real-time energy usage, which we can then integrate with other variables including weather, energy load curves, dual fuel usage, and distributed energy resource deployments to form a more precise energy profile at the building or portfolio level.
Pilots are a great way to test new technologies or programs.
Piloting a new technology or program can be a valuable tool for testing its performance within a system, and evaluating its performance for wider deployment. For example, a pilot program allows for real-world testing within a smaller, controlled environment, helping to identify any further considerations before it is fully deployed, leading to adjustments and improvements. For property owners, it can also be a powerful way to assess time-to-value, allowing them to gather feedback from a smaller group of users, while simultaneously assessing training requirements.
One complaint expressed at almost every event we attended this spring is the question surrounding ROI as a function of the effort required to implement a new technology or proptech solution. A pilot program can help alleviate some of that concern by managing deployment until the impact of a new technology or program on the building or portfolio as a whole can be measured, allowing owners to manage risk.
Real Estate is now in the energy business.
With buildings responsible for 30% of global CO2 emissions, it's not surprising that more tenants are asking for renewable energy and sustainability commitments from their landlords, and that efficiency measures are no longer enough to satisfy them. Some lenders are even starting to price ‘carbon liability’ into their products. As we heard MaryAnne Gilmartin, founder and CEO of MAG Partners say at the Real Estate Technology Conference, “Real estate is in the energy business whether we like it or not.”
While it may seem challenging to address net zero, sustainability, or clean energy goals, there are benefits to starting now. Pressure from regulators, stakeholders, and tenants is likely to drive increasingly emissions-conscious business decisions. As more companies take action to deploy their strategies for meeting sustainability and net zero goals, there is likely to be more competition for clean energy resources from a hardware and supply-chain perspective. But it’s not all about staving off the competition; many property owners stand to benefit from untapped flexible energy capacity in their buildings.
Blueprint Power regularly helps customers evaluate the landscape of options available to them in order to optimize what already exists, and then identify and implement the best solutions for reaching their specific goals. Optimizing and managing flexible energy capacity more effectively can present opportunities for an array of business and sustainability goals. By better predicting energy use, moderating demand, and switching between grid and onsite energy supply, buildings can generate new cash flows, reduce carbon emissions, and increase site resiliency. Blueprint Power helps its customers achieve their goals by helping companies with value-creating and self-funding strategies.
As the real estate industry continues to implement strategies and technologies that move them closer to achieving ESG and decarbonization goals, data will play a critical role in informing the path to get there. And while the path may be daunting for some, piloting solutions along the way and starting to generate value for the business sooner rather than later can have significant benefits. If you would like to explore these trends further, or hear more about how Blueprint Power helps customers harness the surplus energy within their buildings to generate new cash flows, reduce carbon emissions, and increase site resiliency, please contact us.
