How submeters can unlock your data and boost your coverage

Almost 60 percent of real estate investment trusts (REITs) already have emission reduction goals, but verifying that progress has been made is another story. Ask any major company’s sustainability director, and they will likely tell you that gathering accurate data about a building portfolio’s energy use is nearly impossible. With properties spread out across the country and utility bills that account for multiple tenants, it can be time-consuming and laborious to collect data on a building’s energy use – and after all that, there is no guarantee the data will be accurate. This lack of information is hurting investor relations and putting companies at risk of violating new utility usage and emission disclosure requirements. New York City recently passed Local Law 97, which requires most buildings over 25,000 square feet to adhere to stricter energy efficiency and greenhouse gas emissions limits, intending to reach net zero in the city by 2050. 23 states and counting have clean energy goals, including emission reductions requirements. And the U.S. Securities and Exchange Commission (SEC) is expected to make an announcement later this year around new Scope 1, 2, and 3 emissions disclosures for all publicly-owned companies. Studies show that investors are also paying attention to sustainability and incorporating measurement tools like the GRESB Real Estate Assessment into their decision-making process. In fact, GRESB found in 2022 that over 75 percent of surveyed investors engage with their managers to encourage GRESB participation, with approximately a third of investors making participation mandatory. Data coverage directly impacts 19.5/100 points in the GRESB Real Estate Assessment, based on performance indicators such as energy consumption, waste management, water use, and GHG emissions. So, how can REITs meet new regulations and appeal to investors without access to crucial utility data? Fortunately, there is a simple solution. By automating data collection through a submetering program, a building owner can monitor energy usage in real-time and be assured that the data is up to ESG, GRESB, or any other sustainability reporting standards.

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Why Achieve benefits ?

Energy as a service (EaaS) firms are revolutionizing the way businesses manage and consume energy. These innovative companies provide comprehensive energy solutions that go beyond traditional energy procurement and management. By offering a suite of services, including energy efficiency upgrades, renewable energy integration, and demand response programs, EaaS firms help businesses optimize their energy usage, reduce costs, and minimize their environmental footprint.

Partners ?

One of the key advantages of partnering with an EaaS firm is the flexibility it offers. Instead of investing in expensive infrastructure upgrades or navigating complex energy markets on their own, businesses can rely on EaaS providers to handle all aspects of their energy needs. This allows companies to focus on their core operations while benefiting from the expertise and resources of the EaaS firm. Moreover, EaaS firms often utilize advanced technology and data analytics to optimize energy usage in real-time. By monitoring energy consumption patterns and identifying areas for improvement, these companies can help businesses achieve significant energy savings without sacrificing performance or comfort. In addition to cost savings, EaaS solutions also contribute to sustainability and environmental stewardship. By implementing energy-efficient technologies and transitioning to renewable energy sources, businesses can reduce their carbon footprint and support the transition to a clean energy future. Furthermore, EaaS firms offer scalability, making them suitable for businesses of all sizes and industries. Whether it's a small retail store looking to reduce its energy bills or a large manufacturing facility aiming to improve its sustainability practices, EaaS solutions can be tailored to meet specific needs and goals. Overall, energy as a service firms are driving innovation and transformation in the energy sector, empowering businesses to become more efficient, resilient, and sustainable in the face of evolving energy challenges. With their comprehensive services and commitment to excellence, EaaS firms are poised to shape the future of energy management and pave the way for a cleaner, more sustainable world.