Guide

The Hidden Costs of Inefficient Energy Use: How to Improve Your Bottom Line

November 27, 2023
November 27, 2023
  •  
3 minutes
Cory Perdue

Discover the surprising impact of inefficient energy use on asset managers' bottom line and learn how addressing these inefficiencies can lead to cost savings and improved profitability. DataKwip's data-driven solutions empower asset managers to optimize building performance, reduce operating costs, and exceed sustainability goals.

Introduction

As the CEO of DataKwip, I've had the unique opportunity to engage directly with Asset Managers in the Real Estate sector. My firsthand experiences and observations have provided me with a deep understanding of the hurdles they encounter in cutting operating expenses and achieving their decarbonization objectives.

In this blog post, I aim to share these insights, detailing both the challenges and ambitions of Asset Managers, and illustrating how DataKwip's innovative, data-driven approaches are effectively equipping them to tackle these challenges.

The Frustrations of Asset Managers

Asset Managers play a critical role in managing and optimizing the performance of real estate assets. However, they often face multiple challenges that hinder their ability to reduce operating expenses, increase energy efficiency, and meet decarbonization goals. One of the key frustrations they face is a lack of visibility into the operations of their assets.

The operations of real estate assets are largely determined by property managers and tenants, making it challenging for Asset Managers to have real-time awareness of their performance. This lack of visibility creates a sense of energy consumption and costs drifting out of control, causing cognitive dissonance and anxiety.

Furthermore, Asset Managers rely on facility managers and contractors to manually check equipment status and review energy bills on a monthly basis. This manual approach to monitoring and managing assets is time-consuming and often ineffective in identifying energy-saving opportunities. Asset Managers lack the knowledge on how to save money and are unsure if their efforts are effective.

The Challenges in Meeting ESG Goals

Asset Managers also face external pressures to meet ESG (Environmental, Social, and Governance) goals. Rising energy costs, local building energy performance standards, utility incentive programs, and the growing demand for green initiatives add additional complexity to their efforts. The current approach of relying on capital projects to achieve these goals is costly and not aligned with the highest cost of capital available in today's markets.

DataKwip's Data-Driven Solutions

At DataKwip, we understand the frustrations and challenges faced by Asset Managers. We have developed data-driven solutions that empower Asset Managers to reduce operating costs, meet decarbonization goals, and exceed their sustainability goals.

Our approach combines low-cost energy reduction strategies, fast payback, and access to utility rebates and incentives. We provide Asset Managers with the tools and expertise they need to be seen as climate-friendly organizations and leaders in the industry.

DataKwip's solutions leverage data and technology to enable Asset Managers to make informed decisions, lower operating expenses, and achieve their aspirations for more predictable, successful, and transparent assets. Our data integration, virtual submetering, ECM (Energy Conservation Measures) discovery, and implementation and verification services provide operational visibility, identify specific energy-saving opportunities, and ensure successful implementation of energy savings and incentives programs.

By leveraging the data and equipment Asset Managers already have, DataKwip enables them to reduce energy consumption, operating costs, and carbon footprint by 30%. Our solutions offer immediate savings without the need for upfront capital or long payback periods.

Conclusion

In conclusion, Asset Managers in the Real Estate industry face significant challenges in reducing operating costs and meeting decarbonization goals. DataKwip's data-driven solutions provide a unique and effective way for Asset Managers to overcome these challenges. By leveraging data and technology, Asset Managers can lower costs, increase profits, and create a more sustainable future for their buildings and business.

Book a demo today and take the first step towards transforming your asset management strategies with proven, effective solutions.

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