3 Ways to Make Commercial Real Estate Easier
A few weeks ago, I wrote a post about how "going green" in commercial real estate could translate to huge value improvement for building owners. But there are many players in the commercial real estate value chain. Ownership groups have portfolio managers. Each building has a facility engineer. Tenants have their own priorities, and they don't always align with their landlords.
Proactive energy management can be the common ground, where everyone meets and agrees. There's value for each group, and plenty to go around. This post will focus on how Verdigris can help portfolio managers find that value. Optimize at scale, AND make your life easier!
Challenges for centralized energy management
The largest real estate portfolio managers have assets scattered around the country. Each building has different tenants, unique weather, and its own energy consumption pattern. That's not enough? Try dozens of different utilities, rate tariffs, and unique billing cycles.
Consolidating this data is a nightmare for property managers. It means manual reconciliations of utility bills and spreadsheet analysis. If they even bother collecting it, the data is a month old – or more – by the time they can do anything with it. Many just don't bother, leaving energy management to individual facilities managers.
There are three simple ways to make this process easier, and more effective.
1) Automate The Process
Even a small portfolio could benefit by centralizing this data. We talk a lot about the old adage "you can't manage what you don't measure," and it's as true here as anywhere.
Comparing buildings in your portfolio is the best way to benchmark performance. How do lighting loads compare to cooling loads in different climates? How does the 1mm square foot low-rise compare to the 1mm square foot high-rise?
Now imagine if you could see this data for your whole portfolio, automagically, from your desk at headquarters.
Verdigris' end-to-end solution makes this easy, with native 4G/LTE or WiFi access. Verdigris uploads your energy data to our secure cloud, then makes it accessible to you from anywhere, 24/7. View your data in our web dashboard, or just review our automated weekly reports. Pretty advanced with data? Our API allows you to pull information anytime you want it.
2) Get Better Data, Faster
The second major problem with portfolio-wide energy management is stale data. Once you get that utility bill, your peak demand event was weeks ago (not that you'd even know what caused it). Making changes based on April data means nothing by the time you get to it in June, when cooling-degree days have increased 20x.
Our systems capture that data in real time, and deliver it to you seconds later. You can intervene today, based on today's data. Then, when June rolls around, optimize for June.
Would Jimmie Johnson choose his tires based on last week's race? Why would you change your setpoints based on last month's temperature? With faster data, you can optimize for today, every day, across your entire portfolio.
3) Operations Optimized at Scale
Our end-to-end, web-connected solution gives you consolidated data for the whole portfolio. And the benefits to building engineers are even more powerful. Verdigris provides real-time alerts on energy use and equipment issues within the building. Engineering staff can work smarter knowing exactly where to find problems.
Take these benefits and expand them to every building in your portfolio. Then share the learnings across the entire team. High power cycling took down a chilled water pump? Let other building managers know to watch out for that issue. Found a better utility tariff for your usage pattern? See where else it could apply.
Don't let bad data slow you down
By making buildings smarter, Verdigris can help portfolio managers work smarter too. Our connected intelligence can empower you to make better decisions for every building. Real-time alerts help you make those decisions faster. And our deep analytics allow you go to well beyond "low hanging fruit" to drive real value, at scale, in commercial real estate.
Speaking of automation, see how Verdigris automated M&V for the Smart Buildings Center in Seattle.