“1 Big Thing: Real Time Energy Management.
Say what? Also known as RTEM, it’s at the beginning stages of becoming something every co-op and condo will want. It’s a cutting-edge technology that collects live performance data about your building’s energy systems and equipment levels in real time. This data is continuously pushed to the cloud, where it is used to help reduce energy consumption and provide alerts about potential equipment anomalies.
And the point? To make sure your building is running right. Going beyond a typical fixed schedule of maintenance and on-the-fly fixes, RTEM can identify problems before a fix is required. It can also combine predictive forecasting and artificial intelligence so that a building’s systems can react to dynamic events, such as weather.
… Finding your ROI. As with any energy upgrade, the cost of RTEM has to be justified. The goal, says Thomas Morrisson, director of energy management at EN-POWER GROUP, is to monitor systems that will have the biggest impact on the bottom line of a building – usually heating and cooling. ‘That’s where you have the ability to make the most changes and drive the most energy savings,’ he says.
How it’s playing. 308 West 103rd Street has hopped on the RTEM bandwagon. This 73-unit co-op has just about finished converting its boiler from oil to gas, and in the process it had to upgrade its 40-year old boiler-control system. Halstead Management’s Barry Chafetz, the co-op’s property manager, ran the numbers: the central control system was going to cost about $34,000. When he added RTEM capabilities to the central control system, the cost rose to $50,344. But incentives of $15,000 from NYSERDA brought the cost back down to $35,241.
… About those incentives. The program – and the incentives – are vendor-based, rather than performance-based This means that you will hire an approved vendor who specs out the needed RTEM hardware and software. NYSERDA’s basic plan for multifamily properties offers a cost share of up to 30 percent of the total project cost, plus an ongoing cost share for RTEM service contracts for up to five years. NYSERDA requires that you have at, the minimum, a one-year service contract. This covers monitoring, advising and general tweaking of your building systems from your vendor. NYSERDA has vetted and approved 75 vendors (you can find a list here), but only about 45 of them are active. If a vendor doesn’t submit at least two projects per year, it is de-activated from the list. To learn more about the program, click here.”
To read the full April 23, 2019 article in Habitat >>>> click here