The Condominium is an 81-meter residential apartments building developed in 2007. NEP is an energy and water management solutions provider. Under the extended contract, NEP will offer residents residing in the building with water and energy billing services in addition to sub-metering.
NEP start installing smart electric and water meters for building occupants by the end of the year.
The smart meters will enable consumers to be billed individually in line with utility rates and the amount of energy and water they use.
However, a credit from the association will be added to consumer monthly energy bills, a development which will result in lower energy and water bills for consumers.
Gary Morsches, CEO of NEP, commented: “There’s power in smart metering solutions; they help multifamily residential property managers understand the property’s electricity use better and reduce their management costs.”
The smart meters and the sub metering will help consumers to individually improve their water and energy efficiency through access to real time water and usage data, they will use to identify efficiency potentials.
According to the Department of Energy, “submetering can cut energy costs by up to 21 percent because residents have better information about actual electricity use.”
NEP had in 2007 signed a deal to offer managed water, electric and billing services to the association.
Consumer energy management
Meanwhile, AEP Ohio, a provider of energy services to some 1.5 million consumers in Ohio, entered into a partnership to help its residential customers improve their energy efficiency.
Under the partnership, the utility company is providing its residential customers with Powerley’s home energy management solution to enable them to control the energy consumption of home appliances in real-time.
The home energy management solution includes hardware (smart thermostat, bulbs, switches and sensors) and mobile application ‘It’s Your Power’.
Residential customers of AEP Ohio can access It’s Your Power via Google Play or the Apple App Store to be able to remotely control their smart home appliances including HVAC systems. Read more…
Image Credit: 123rf.