New technology developed by Australia’s Commonwealth Scientific and Industrial Research Organization (CSIRO) is being touted as a key in assisting building owners worldwide dramatically slash their energy consumption and costs, improve tenant comfort and reduce greenhouse gas emissions.
The BuildingIQ Energy Management System, now being commercialised worldwide, uses sophisticated mathematical algorithms and other advances to actively and continuously optimise a building’s energy management control systems to achieve substantial reductions in energy usage.
Trials of the tool last year at the CSIRO’s 4.5 star rated Newcastle Energy Centre provided early evidence of its potential achieveing cost and energy savings of up to 30 per cent.
It's hoped with these kinds of savings, the software will be able to help cut a building’s operating expenses and improve its official National Australian Built Environment Rating System (NABERS) star rating.
| Benefits of BuildingIQ
The initial focus for BuildingIQ will be heating, ventilation and air conditioning (HVAC) systems, which consume up to 60% of total energy in commercial buildings.
In addition to the building management control system software, BuildingIQ has an add-on called ComfortIQ which allows tenants to provide real-time feedback on comfort levels to the building managers and the BuildingIQ system.
ComfortIQ also broadcasts information to tenants about energy prices and the amount of energy being consumed or saved in their building. |
The release of the technology comes on the back of Federal Environment Minister Peter Garrett's recent announcement that starting next year all buildings over 2000m2 must publicly disclose their energy efficiency whenever they are sold or leased.
For more information on the impending Mandatory Disclosure laws, click here.
BuildingIQ is backed by leading Sydney venture capital firm Exto Partners and founded by Michael Zimmerman, a former venture capitalist and technology executive.
BuildingIQ will be launched in Sydney in December with its first installation of the system in partnership with Investa Property Group, one of Australia’s largest owners of commercial real estate and a global leader in innovation and sustainability.
BuildingIQ CEO Michael Zimmerman said interest from building owners and property fund managers had been very strong.
“Owners want energy management initiatives with strong near-term ROI (return on investment) profile and limited capital requirements, so our solution is attractive.
"The potential to increase a building’s NABERS rating when there is such a heightened focus from investors, tenants and the Government on environmental initiatives is adding to the interest” Mr. Zimmerman said.
Investa’s General Manager of Sustainability, Safety & Environment Craig Roussac said he was excited about the potential for BuildingIQ to enhance occupant comfort while also delivering environmental benefits and cost savings.
“Investa is always looking for opportunities to collaborate on new technology that delivers value to our investors and tenants.
"BuildingIQ is unique in its potential to maintain or improve tenant comfort while improving energy efficiency. We are looking forward to seeing the results of this initiative” Mr. Roussac said.
BuildingIQ is under exclusive license by BuildingIQ Pty Ltd.
Commercial building energy use background
Commercial buildings are responsible for more than a third of global energy related greenhouse gas emissions and have been identified by the Intergovernmental Panel on Climate Change (IPCC) as the largest and most cost effective sector for achieving greenhouse gas reductions.
Global consulting firm McKinsey & Co has estimated industrial and building efficiency upgrades could cut US end-use energy demand 17 per cent below 2008 levels by 2020.
The US building sector consumes 40 per cent of the energy used in the country and is responsible for nearly 40 per cent of greenhouse gas emissions. HVAC
In Australia, the National Greenhouse and Energy Reporting Act requires larger energy users and greenhouse gas emitters to report to the Department of Climate Change.
A recent study by Professors at UC Berkeley and Maastricht University showed that green buildings in the US sold for 16% more and had effective rents that were 6% higher than others.
