Data Changes Buildings For The Better

‍Fifth Wall Newsletter: https://mailchi.mp/fifthwall/better-data-for-the-built-environment 

Tracking energy consumption, collecting efficiency data, reporting emissions—it's become an essential part of the built environment. Yes, because of regulations like New York's LL97. But also, because it's better for the bottom line.

• “What we’re talking about it’s not just about the regulatory aspect. That’s a side piece to us. It’s really about making this data as tangible as the buildings themselves,” said nZero CEO Adam Kramer in conversation with Fifth Wall co-founder and managing partner Brendan Wallace. “There is so much to measure in the built environment. Whether it’s looking at air conditioning, or understanding lighting or looking at the size of the building. And through that data we’re able to show what the impact is from that.”

And the way data is reported and shared is evolving too. 

• Billions of dollars are spent on energy efficiency in the U.S. each year without much visibility into how well that investment did. But California is piloting a new way to track energy efficiency that uses real-time data instead of conservative averages.
• Traditionally, the value of an efficiency investment, like solar or energy-efficient lighting, is based on estimates. But doing it this way doesn't take into account when those homes or businesses are using energy. And that's critical.
• But “pay-for-performance” programs piloted in Northern California work a bit differently: “We’re moving from this world of paying rebates based on average savings during any hour of the day, to a world where we can really hone in on paying rebates for savings that are going to make the greatest impact on the grid,” one expert told Canary Media.

The big picture: High efficiency translates into big savings for building owners and operators. Government agencies and utilities that fund energy efficiency upgrades and dole out rebates typically use an average estimate to determine impact, rather than real-time data. Tracking and reporting with better data could lead to even more savings as these estimates are usually on the conservative side.