Improved Data Analytics Provides Increased Savings
While owners of multifamily units are increasingly looking for ways to manage costs through energy efficiency, acquiring the necessary data has typically been so difficult as to make such programs unmanageable. Now, Nationwide Energy Partners is using a proprietary data collection and analytics platform to extend cost savings to residents and developers of condominiums and multifamily communities.
“The foundation of any good energy efficiency or cost-management program is data,” said Mike Palackdharry, Nationwide Energy Partners’ president. “Nationwide Energy Partners has one of the most sophisticated data collection and analysis systems in the industry, allowing us to look at everything from individual unit consumption, to Common Area Usage, to leak detection, to general account issues such as customer feedback. This means we can help property owners squeeze energy savings out of buildings, which has almost been close to impossible previously.”
Property managers experience the same challenges as residents and condominium owners when they try to determine unit and common area energy costs. Nationwide Energy Partners analyzes community-level data that examines correlations between usage and property attributes, or between usage and unit type. “Providing that data — and providing proactive solutions to curb waste — helps owners address issues and operate more efficiently,” Palackdharry said.
Nationwide Energy Partners is uniquely equipped to pinpoint the causes of other inflated Common Area Usage costs. In a recent example, Nationwide Energy Partners’ common area energy usage monitoring team noticed extremely high levels of common area usage at one of the properties they serve. They identified the top causes of the high energy and recommended multiple solutions for the community to implement, saving them $18,000 a year and reducing residents’ bills per month.
Nationwide Energy Partners’ data collection and analytics platform is a critical vehicle in helping to make energy use more transparent for both property owners and residents. Earlier this year, the company reinvented its utility bills to show residents of multifamily units their patterns of electricity and water consumption using graphics and comparisons with average costs in their buildings.
“We believe that residents in apartments and condominiums deserve the same transparency afforded to those in single-family homes and businesses,” Palackdharry said. “And we believe that property owners, given the tools, want to help cut waste and costs, as well. Our mission is to make both the norm for our customers.”