BuildingIQ module approved for generating ESCs

BuildingIQ, a provider of energy management software, has announced that its Measurement & Verification (M&V) module is now an approved way to directly generate Energy Savings Certificates (ESCs) under the NSW Energy Savings Scheme (ESS).

The ESS awards commercial buildings that can verify energy reduction as a result of energy-efficiency upgrades with ESCs. BuildingIQ customers who have deployed its M&V module are now eligible to receive certificates from the ESS, which can then be purchased from building owners by electricity retailers. Each certificate represents approximately one megawatt hour saved and has historically been worth between $10 and $32.

BuildingIQ’s energy management platform utilises Predictive Energy Optimization to automatically fine-tune a building’s heating and cooling operations based on predictive analytics and advanced algorithms. The software’s M&V module allows a building to create a baseline of energy usage that reductions can be compared to and verified against. This allows the impact from BuildingIQ’s software, as well as a building’s other energy-efficiency upgrades, to be easily identified.

Using the technology therefore streamlines the ESS certificate approval process and makes it easier to calculate savings from future upgrades as the verification infrastructure is already in place. BuildingIQ CEO Michael Nark said the platform is “the perfect tool for taking advantage of the Energy Savings Scheme and reducing operating costs at the same time”.

“Our software has been seamlessly integrated into hospitals, shopping centres, museums and commercial buildings across NSW that can now easily start generating certificates,” Nark continued. “Essentially, these buildings have the opportunity to tap into a new source of funds and get rewarded for reducing energy costs.”