Summary
Rising utility costs and growing sustainability demands are a challenge for commercial real estate companies. That’s why one commercial real estate company in Calgary turned to the Stream platform and Operational Analytics services to help manage energy consumption and reduce costs. In just one year, they identified CAD $425K in savings by fine-tuning their building operations and implementing capital upgrades. Learn how we helped this complex improve energy performance, meet sustainability goals and save costs.
Background
The company ranks as one of the largest real estate investment groups in the world, boasting over $73.8 billion in global assets across North America, Europe and Asia Pacific.
In 2022, volatile utility costs in Canada resulted in a 50% increase in utility rates. Even with their aim of reducing energy consumption and improving overall building efficiency, the large complex had to shell out CAD $2.2M in utility costs for the 2022 fiscal year for this one complex alone. With rising volatility, the large complex knew it needed a strategy for managing and reducing its yearly energy consumption and annual costs.
Challenges
Due to rising costs in Calgary, the large complex saw a 50% spike in utility rates in 2022, resulting in annual utility costs of CAD $2.2M. In a bid to more effectively manage and reduce their energy consumption and overall costs, the large complex turned to Stream energy and sustainability platform and services, for guidance.
The solution
With the help of Brightly’s Stream and Operational Analytics service, which is now a part of the Siemens portfolio, the large complex was able to improve building energy performance by implementing building operational measures and fine-tuning operations and identifying and implementing capital upgrades to some of their cooling and heating systems.
With the recommended operational and capital measures, the company was able to realize $425k in cost savings during their fiscal year — a nearly 25% reduction in cost compared against the prior year (normalized for utility rates and weather).
Why choose us?
Stream is a pivotal tool that helped transform operations by helping organizations meet ambitious energy, water and carbon targets with scalable environmental, social and governance (ESG) data software and expert services.
Commercial real estate companies choose Stream as their energy and sustainability platform to reduce their energy usage and demand and achieve their sustainability goals through powerful, data-driven recommendations. By combining their market knowledge with Stream, these companies have optimized their operations. Brightly (now a part of Siemens) is the trusted partner that guides and supports these companies in implementing effective decarbonization strategies that reduce utility usage and costs and increase overall portfolio value.