Dive Brief:
- Redaptive has unveiled a digital platform that monitors and analyzes building energy usage data, according to a release emailed to Facilities Dive.
- The solution, Redaptive One, evaluates building performance, streamlines sustainability reporting and optimizes energy savings.
- The Denver-based energy-as-a-service provider said the technology reduces customers’ reporting costs and data gathering time by 50% on average, in addition to 5% to 15% in utility expense savings through asset optimization insights based on smart metering.
Dive Insight:
The U.S. Green Building Council’s LEED rating system mandates tracking all energy sources in a facility. Tracking energy usage for ESG reporting can be a daunting task, however, as commercial and industrial facilities managers contend with pressures to decarbonize their portfolios, many times across multiple states.
The process often involves sifting through dozens of water, gas and electric bills to track total consumption. In a KPMG survey roping in 188 respondents, 76% of real estate businesses reported that they rely on Excel spreadsheets. Given the difficulties with identifying areas of overconsumption, due to a lack of data quality and quantity, there is an imminent need for a benchmark that provides clear differentiation between data sets.
Redaptive One combines IoT smart meters with a central data dashboard to give facilities managers a detailed, moment-by-moment breakdown of a building’s energy and utility consumption. The meters are installed inside panels to measure electricity, water and gas usage, allowing facilities managers the visibility they need to optimize critical energy saving and energy-generating equipment, and make informed decisions about operational improvements.
For instance, insights into HVAC consumption offer ample scope for facilities managers to boost their savings, Redaptive CEO Arvin Vohra told Facilities Dive, pointing to data from the U.S. Environmental Protection Agency. The EPA notes that about a third of the energy consumed in an average U.S. commercial or industrial building gets wasted.
“Thirty percent [of energy] is wasted because spaces are being lit, heated or cooled when no one is occupying them. Redaptive One [revolves] around identifying where that wastage occurs. If a manual thermostat was left on, our data insights can tell you that’s one of the areas where HVAC consumption is significantly higher than it should be,” Vohra said.
Over five months, Redaptive One has been implemented at 18 locations managed by WPT Capital Advisors, according to the release.
“This real-time solution also identifies inconsistent consumption patterns and automatically sends alerts that ultimately create safer, healthier buildings, by identifying leaks and building systems that are running at off-peak intervals,” WPT Capital Advisors partner Spencer Gerbeding said in the release.
“Those insights aren’t just insights. We make them actionable with our energy-as-a-service component,” Vohra told Facilities Dive.
An energy-as-a-service model involves providing energy-related solutions to customers on a subscription basis, rather than requiring them to own and manage their energy infrastructure. Vohra said Redaptive will pay for upgrades and charge customers out of their savings. He added that Redaptive One works in concert with the company’s energy-as-a-service offering to “create a nice circular motion so that facilities managers obtain all of their needs.”
The Redaptive One launch follows a recent $250 million fundraise, with a list of investors, including Honeywell International, CBRE and the Canadian Pension Plan Investment Board.
