Noveda Technologies selected as energy efficiency system provider in New York State

Written by Brian Seitz

Growing need for energy efficiency in Smart Cities 

Buddy’s commitment to smart cities, building and facility monitoring and verification, and energy efficiency programs is nothing new. We’ve talked about the next generation of the power grid, how IoT could power water monitoring efforts, and most importantly our intent to purchase Noveda Technologies, a leader in energy and water monitoring systems.
On Friday, The New York State Energy Research and Development Authority (NYSERDA) announced Noveda was selected as a qualified system provider for their Real Time Energy Management (RTEM) program. This is great news for Noveda, Buddy and commercial building owners and management firms in the State of New York. NYSERDA wants to help facilities like office towers, universities, hospitals and retails stores become more energy efficient. In fact, just by installing an automated meter and connecting it to Noveda for monitoring and verification (M&V), facilities can see anywhere from 5-25 percent energy savings. Once managers and tenants have a clear view of the data behind their energy usage, behavior change soon follows.

smart meter

Real time energy efficiency programs 

A total of $30 million is available from NYSERDA and RTEM for installation of hardware systems and supporting data infrastructure system support, in this case through Buddy Platform. An additional $6 million will be made available this month specifically for building owners and their tenants to improve energy efficiency in leased office spaces, which are responsible for between 40-60 percent of a building total energy use.

Both of these programs are funded through New York State’s Clean Energy Fund, a 10-year, $5.3 billion program to support clean energy market development as a part of the Reforming Energy Vision (REV).

connected city

I think it’s fair to assume programs like this will be one of many that will pop up across the country in coming years. The business and environmental benefits of energy monitoring and verification are clear.  With support from state governments like we see here from New York, now is the time for facilities in the State to get M&V programs started and in place to take full advantage of this benefit.

Learn more about these energy efficiency programs and our intent to acquire Noveda Technologies, check it out.