by Brianna Crandall — August 29, 2018 — Logical Buildings, formerly Energy Technology Savings (ETS), a smart building software and solutions company that creates real-time transparency and data-driven insights for building operations, just announced that Edison Properties (owner of self-storage company Manhattan Mini Storage) has expanded its use of the Logical Buildings SmartKit AI (artificial intelligence) technology from one to six sites in New York City.
The move is expected to further reduce Edison Properties’ energy costs while easing stress on the electric grid with the creation of a virtual power plant (VPP) — a network of buildings with the capacity to quickly reduce their electricity demand using SmartKit AI. This newly-created VPP will provide demand reduction when it is needed most — such as when regional electricity demand is highest during heat waves — while also opening opportunities to trade or sell this supplemental capacity on the open market.
Built by energy and telecommunication systems engineers and shareholders, SmartKit AI, in combination with Internet of Things (IoT) sensors and other hardware, is designed to unify monitoring and control of a building’s energy-consuming equipment onto a single platform. The user-friendly SmartKit AI mobile app empowers building staff, from owners to managers, to monitor energy use, make energy-saving decisions from anywhere, and collect rewards when they do.
Logical Buildings’ real-time technology platform enables Edison Properties to receive government and utility incentives on the installation and maintenance of the system from the New York State Energy Research and Development Authority (NYSERDA) Real Time Energy Management (RTEM) program and the Con Edison Demand Management Program (DMP).
After one year of working with Logical Buildings to address high energy costs at its largest property, Edison Properties staff achieved an approximately 10 percent reduction in electricity consumption and a 25 percent reduction in electricity expenditures, according to the company.
Greg Maser of Edison Properties remarked:
Through the savings we achieved working with Logical Buildings and the programs and rebates their products made available to us, we were able to see a payback on our investment in the hardware and software in less than a year. We’re now looking to scale the return we generate from advanced energy management by rolling it out across more buildings in our commercial portfolio.
The SmartKit AI platform creates and integrates data from Edison Properties’ electricity-consuming equipment with external signals from the electric grid, such as demand response and other time-of-use price indicators, to curb energy consumption when rates are highest. For example, during a record heatwave in early July, SmartKit AI received stress signals from both the New York State grid operator and Con Edison, and responded by reducing the building’s electricity consumption by 40 percent, generating demand response revenue for Edison Properties. The platform also provides 24/7 optimization of HVAC systems, reducing energy consumption on a daily basis.
Vicki Kuo, director of Energy Efficiency and Demand Management of Con Edison, pointed out:
Our incentives can in many cases offset more than 70 percent of the costs of an energy upgrade to a building. We congratulate Edison Properties and Logical Buildings for successful upgrades and controls technology investments that save energy, money and empower our customers to manage demand.
Michael Reed, NYSERDA RTEM program manager, stated:
NYSERDA’s Real Time Energy Management program is designed to accelerate the adoption of smart buildings and help customers unlock the full value of energy efficiency. Projects like this one between Logical Buildings and Edison Properties are a great example of how companies and customers can work together to leverage real-time data to reduce costs, decrease greenhouse gas emissions and help create a more sustainable future.
Logical Buildings CEO Jeff Hendler concluded:
Businesses and building owners have an untapped opportunity to become energy providers and generate revenue while cutting operating costs. We see Edison Properties’ success as a powerful symbol of the new Logical Buildings brand and look forward to creating similar success stories for commercial and multifamily residential buildings as our company continues to grow in the New York metro area and beyond.
For more information about the SmartKit AI platform or to download the Edison Properties case study from the platform’s use in their first property, visit the Logical Buildings website. The SmartKit AI mobile app is available for Android and iOS.
