We also chatted recently with WegoWise CEO Andrew Chen, whose firm is providing the software for LABBC participants' energy tracking and reporting. The Internet company ("Wego" stands for water, electric, oil, and gas) automatically collects utility info and marries it to a building's characteristics--how old, large, and what type of building systems it has--to see how it compares with similar properties in the submarket. "We can tell you some pretty cool stuff about your building," Andrew says. (But can they tell us where our stapler went?)
The company's database of 12,000 buildings across the country indicates that a poorly performing building spends four times as much on utilities as an energy efficient one. (So all those toilet-flushing races your office hosts are costing big dollars.) SoCal comprises one of WegoWise's largest customer bases750 buildings in Greater LA alone. Andrew says the compliance requirements in the region are a bit of a patchwork. But one thing owners throughout the state are keeping an eye on is AB21103, which requires energy disclosure on the sale of a commercial building, or the lease or financing of an entire building, starting July 1 with buildings greater than 50k SF. "We're getting to a point where essentially any commercial building of any significant size now requires this disclosure."
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