Edison Properties, in partnership with smart building solutions firm Logical Buildings, has expanded its participation in demand response initiatives offered by NYSERDA and Con Edison.
This has been achieved through Edison Properties' expanding rollout of SmartKit AI, energy saving software developed by Logical Buildings, from one facility to six.
Rollout in six buildings creates a virtual power plant able to help Edison Properties to reduce its energy costs and relieve the regional grid from stress during peaks.
The development will provide Edison Properties with extra revenue from trading supplemental capacity on NYSERDA's Real Time Energy Management and Con Edison's Demand Management programme open markets.
SmartKit AI is being deployed together with IoT sensors and hardware to enable staff to access real-time buildings' energy usage data via an Android and IOS-enabled mobile app.
The solution provides 24/7 optimisation of HVAC systems and receives signals from demand response programmes to reduce energy use during peak periods and times when tariffs are high.
During a record heatwave in early July, SmartKit AI received stress signals from both the New York State grid operator and Con Edison and responded by reducing the building’s electricity consumption by 40%, generating demand response revenue for Edison Properties.
After one year of working with Logical Buildings to address high energy costs at its largest property, Edison Properties staff achieved an approximately 10% reduction in electricity consumption and a 25% reduction in electricity expenditures.
“Through the savings we achieved working with Logical Buildings and the programmes and rebates their products made available to us, we were able to see a payback on our investment in the hardware and software in less than a year,” said Greg Maser of Edison Properties.
“We’re now looking to scale the return we generate from advanced energy management by rolling it out across more buildings in our commercial portfolio.”
“Our incentives can in many cases offset more than 70% of the costs of an energy upgrade to a building,” said Vicki Kuo, director of energy efficiency and demand management of Con Edison.
“We congratulate Edison Properties and Logical Buildings for successful upgrades and controls technology investments that save energy, money and empower our customers to manage demand.”
“NYSERDA's Real Time Energy Management programme is designed to accelerate the adoption of smart buildings and help customers unlock the full value of energy efficiency,” said Michael Reed, NYSERDA RTEM Programme Manager.