BuildingIQ's cloud-based platform approved for Energy Savings Scheme
BuildingIQ’s Measurement & Verification (M&V) module has been named an approved way to directly generate Energy Savings Certificates (ESCs) under the New South Wales Energy Savings Scheme (ESS). The ESS awards commercial buildings that can verify energy reduction because of energy-efficiency upgrades with ESCs. BuildingIQ customers who have deployed its M&V module are now eligible to receive certificates from the ESS. Electricity retailers can then purchase certificates from building owners, thus creating a new source of revenue for local businesses and reducing the region’s environmental footprint.
BuildingIQ worked with Sigma Global, experts in the environmental markets, to obtain accreditation for its M&V capabilities. Moving forward, Sigma Global will serve as the interface between building owners and electricity retailers. Revenue generated from the sale of these certificates varies based on supply and demand. Each certificate represents approximately 1 MWh saved and has historically been worth between $10 and $32.
“Our software has been seamlessly integrated into hospitals, shopping centres, museums and commercial buildings across New South Wales that can now easily start generating certificates. Essentially, these buildings have the opportunity to tap into a new source of funds and get rewarded for reducing energy costs,” said Michael Nark, CEO of BuildingIQ.
BuildingIQ’s energy management platform utilises Predictive Energy Optimization to automatically fine-tune a building’s heating and cooling operations based on predictive analytics and advanced algorithms. The software’s M&V module allows a building to create a baseline of energy usage that reductions can be compared to and verified against. This allows the impact from BuildingIQ’s software, as well as a building’s other energy-efficiency upgrades, to be easily identified. Using this technology streamlines the ESS certificate approval process and makes it significantly easier to calculate savings from future upgrades, as the verification infrastructure is already in place.
“For a building to have a solution in place that is able to identify changes compared to a baseline is tremendously valuable,” said Schalk Meliëzer, Sigma Global.
“The accreditation of BuildingIQ’s M&V capability for this program is testament to its accuracy. It makes the certification process much simpler and allows us to capture the maximum amount of revenue possible through the scheme.”
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