$12M New York State Financing for Real-time Energy Management
NEW York State Governor Andrew M. Cuomo announced this week $12 million financing to enhance energy efficiency in industrial and multifamily buildings.
This expands the Real-Time Energy Management initiative launched last year to improve efficiency in commercial buildings, including office buildings, hotels, universities, hospitals and retail stores.
Real-Time Energy Management Systems continuously monitor real-time data of a building's energy use and transform it into actionable information, by using sensors, meters, and other equipment. The data can pinpoint a building's operational inefficiencies to help identify conservation measures and help justify capital improvements. About 60% of greenhouse gas emissions in New York come from buildings.
"By deploying cutting-edge clean energy technology and software, this program helps business owners improve efficiency, reduce costs and help us combat climate change," Cuomo said. "Across New York, we are investing in state-of-the-art clean energy solutions to create a greener, more sustainable future for all."
By reducing energy use in commercial buildings, multifamily and industrial buildings, this program advances Governor Cuomo's efforts to reduce greenhouse gas emissions 40% by 2030 and the Reforming the Energy Vision strategy to build a clean, resilient and affordable energy system for all New Yorkers. This program also complements Governor Cuomo's announcement last month of $59 million in funding through the Weatherization Assistance Program to support energy efficiency and cut costs for approximately 9,200 income-eligible families and seniors across the state.
NYSERDA offers a project cost share of 30% to support both the installation of Real-Time Energy Management systems that use comprehensive data monitoring and analytics to identify when, where, and how energy is used in a building, as well as ongoing RTEM consulting services to conduct in-depth analysis of energy usage data that helps guide customers' operational and capital improvement decisions. As a result, NYSERDA expects that energy-efficient practices will be started as soon as facility managers are able to implement best practices to maximize building performance and reduce energy expenditures.
Early estimates by NYSERDA suggest that RTEM projects save more than 5% on building energy costs, as well as reduce maintenance costs, improve building occupant comfort and increase operational reliability.
Friday 17th November 2017