September 19, 2013
In a world hungry for energy efficiency, there's money to be made and long-term relationships to be built for contractors and electricians who install smart submetering systems.
You can't have energy efficient buildings without sufficient metering. It's impossible. Meters provide building owners and managers with the information they need to identify savings opportunities, manage peak demand costs, bill tenants, and generate income through demand response and other government initiatives.
Capitalizing on a Huge Market Opportunity
The need for submetering technology in institutional and commercial facilities has never been greater — and the opportunity grows by the day. Five trends are creating a huge demand for metering and monitoring systems in commercial and multi-unit residential buildings.
Pike Research estimates that North American energy efficiency retrofit revenues will more than double over the remainder of this decade, while Deloitte states that as little as one billion square feet of the approximately 70 billion square feet of US office space has been retrofitted to improve energy efficiency — a $400 Billion opportunity.
Where to Start
By approaching property owners to install a metering infrastructure, contractors and electricians can engage customers with cost-effective initiatives today that can blossom into larger programs down the road. The initial submetering project will justify further, more expensive building control projects — each with demonstrable ROI.
This is beyond technology. It’s about long-term relationship growth and ongoing services opportunity.
The first step is to deploy a network of open, revenue grade submeters coupled with an Energy Management System (EMS). A open system built on industry standards will work today and tomorrow — and be ready for new and emerging energy initiatives. Being networked is essential for sharing data. Revenue-grade equals integrity.
Once the system has been deployed, a building’s energy use can be characterized and opportunities for savings identified. Energy savings initiatives can be undertaken, monitored, and validated as part of an on-going energy management services relationship.
Gord Echlin, VP Sales and Marketing, Triacta