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On average, U.S. commercial buildings spend 29% of their operating budgets on utilities. Being able to manage those costs can make a difference in meeting budget expectations and energy-efficiency benchmarks. As technology improves and pushes more industries toward data-centric systems, management platforms can help building owners track their consumption and expenses in real time.
Stanwich Energy Advisors has taken energy tracking further with its StanWatch EnergyTrac platform, which combines the company's experience as an energy consultant with a customized and centralized web-based application for tracking, analyzing and reporting on utility consumption and cost.
EnergyTrac displays usage trends across multiple energy sources, from electricity and natural gas to oil and steam. On the dashboard, clients have customized access to charts for specific properties. Each chart displays actual usage against budgeted usage for a specific time period. The application also calculates energy reduction compared to previous periods. As meters in the building track usage over time, the data automatically updates.
Property owners can go into granular details about their spending. StanWatch EnergyTrac breaks down average usage, cost per unit and load factor for every month. Owners can leverage information like the cost ratio between supply and delivery to make smarter energy purchases.
Abnormally hot or cold temperatures impact supply prices, especially electricity and natural gas. Owners can look at spending and usage as a comparison to seasonal weather changes. The data helps owners budget for the year ahead.
Users can also set energy benchmarks across multiple properties and identify building inefficiencies, leaks and control problems.
In a study from the Institute of Real Estate Management, 80% of participants said energy management was important to their company’s business. Another study from MACH Energy found that 21% of respondents think automated tenant billing and submetering are a must-have. Easy-to-use, automatic and user-friendly interfaces let owners focus on making informed energy choices without getting caught up in the technology.
Stanwich clients do not have to worry about entering data manually. In the budget wizard tab, Stanwich specialists work with clients to learn about their energy needs and any efficiency projects they are looking to launch. HVAC renovations and LED lighting upgrades can lower the building’s projected energy cost and usage, which can all be accounted for in the budgeting wizard.
Larger companies often have the problem of digging through multiple folders for utility bills, Stanwich Energy Advisors Managing Principal John O’Connell said. EnergyTrac centralizes all of the invoices and supply contracts, and owners can use that information to generate expense and usage reports tailored to their business.
Rather than going with the flow of the energy market, property owners can use management platforms to better understand how their energy needs change over time. StanWatch EnergyTrac helps keeps building energy usage under the owner’s control.
“EnergyTrac provides total transparency to energy tracking services," O'Connell said. "Our clients are able to immediately wrap their arms around any changes and any discrepancies that might arise. It's easy to use, and the initial feedback has been amazing."
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