Bridgewater, New Jersey based Noveda Technologies announced the company's platform has been selected as a qualified system provider by The New York State Energy Research and Development Authority for NYSERDA's Real Time Energy Management (RTEM) program.
NYSERDA has made $36 million available through two new initiatives that aim to increase the energy efficiency of New York's commercial buildings — including office towers, universities, hospitals and retail stores — which are some of the state's biggest energy users.
About $30 million is now available through NYSERDA for Real Time Energy Management. These funds will support the use of advanced technologies to help building owners fine-tune their building's energy systems, identify capital projects to cut energy costs, and reduce operations and management costs by an expected 5 to 25 percent.
Real Time Energy Management (RTEM) uses internet of things technologies to collect data about a building, and uses that data to optimize the building's energy usage. Sensors, meters, and other equipment, along with data analytics and building data information services, show how the building is actually performing at any point in time.
Noveda Technologies will provide the hardware and software for the RTEM program enabling building analytics and intelligence that can be used by building owners/operators and service providers offering consulting services that analyze the data to make energy saving recommendations.
According to NYSERDA, eligible sites may include, but are not limited to office buildings, retail, colleges and universities, health care facilities, State and local governments, not-for-profit and private institutions, and public and private K-12 schools. Facilities must be located in New York State and must be New York State electricity distribution customers of a participating utility company that pays the System Benefits Charge (SBC). A total of $30 million is available in financial support from NYSERDA for RTEM system implementation and services for up to five years. NYSERDA plans to make an additional $6 million available to building owners and their tenants this month to improve energy efficiency in leased office spaces, which typically consume between 40 to 60 percent of a building's total energy use.
Both commercial efficiency programs are funded through the State's Clean Energy Fund, a 10-year, $5.3 billion program to support clean energy market development and innovation and a component of the state's Reforming the Energy Vision (REV). The $36 million investments are part of a total investment of $72 million earmarked to improve the energy efficiency of New York's commercial buildings over 10 years.