Written by: Daniel Handal
The key to tackle this barrier and make the case for energy efficiency is to identify, collect, and utilize the right information in order to understand and communicate effectively what value is being created for which stakeholders.
Track and Improving Performance: Waypoint found that communicating with a simple 1-page overview of utility incentive offerings aligned to the project type at hand was well received by both property managers and tenants. Another critical aspect of this is helping building management identify tools and options that they can implement to better track how their own buildings consume energy, and where the costs and benefits of their consumption are going. There are currently several ways of doing so, including Energy Management Systems and sub-metering by tenant space (ideally separate for lighting, plug, and HVAC loads). Further, building management can leverage the Waypoint platform to make informed energy efficiency decisions based on their building’s performance.
Optimize the Project Timing: Physical building barriers can be mitigated by knowing the optimal time and place for creating an energy efficiency business case. For instance, a recently vacant tenant space presents a great opportunity for the building owner/property manager to evaluate energy efficiency projects that could attract new tenants, and could be completed before the new tenant moves in. The figure below shows the lifecycle of property turnover and the many opportunities to target stakeholders for energy efficiency improvements.
Share Best Practices: Property managers and tenants can often learn from one another by sharing success stories of energy conservation campaigns, recycling projects, or newly implemented technologies through conferences or utility engagements. For an example, please see the collaborative work we have done with Virtu Investments that has resulted in execution of energy efficiency projects across their portfolio since 2011.
The last blog in Waypoint’s split-incentive series focuses on the future. Stay tuned!