Report: Transforming the Market Through Energy Management Information Systems (EMIS)
Building energy performance data is key to unlocking smart energy management. Energy management information systems (EMIS) give building-level decision-makers access to actionable information on the energy performance of their buildings to improve operation efficiency. The Department of Energy estimates that the technology has the potential to achieve energy savings up to 20 percent. However, market awareness and commercial real estate professionals’ lack of understanding of the value of EMIS impedes its uptake. Transforming the Market Through Energy Management Information Systems, a new report by the Institute for Market Transformation (IMT), analyzes key barriers to EMIS adoption and presents current national trends and solutions to better educate commercial real estate professionals, EMIS vendors, utilities, and local government actors on how EMIS can be used to create innovative solutions for lasting change in energy management.
IMT interviewed leaders such as Urjanet as well as beginners in EMIS technology and energy management to understand the needs of the commercial real estate market. Participants were asked how utility and government authorities in their communities could steer them toward using EMIS to manage their energy consumption. The survey reported three major needs in the areas of education, incentives, and regulation. Here’s an overview of the report’s key findings:
From an education standpoint, service providers can increase market uptake by:
- Defining and clarifying the various types of EMIS
- Communicating the business case to investors
- Creating working groups and specialized training
- Promoting training on how to overcome split incentives
- Providing technical guidance on how to act on the data provided
According to the survey results, incentives are best received when paired with education and long-term reporting. Illustration demonstration projects will help users understand the full costs for EMIS adoption. Reporting can track the progress of savings over time and provide performance snapshots that will motivate owners to better manage EMIS to achieve the highest possible savings.
The demand for EMIS solutions will rise if more regulations are passed. 41 percent of the service providers interviewed reported that benchmarking ordinances increased interested in their product. In addition, other energy focused ordinances compel owners to seek technological solutions to comply with local regulations.
By examining the unique barriers that real estate owners experience with EMIS use, service providers, local governments, and utility efficiency program implementers can create solutions to better the market and increase revenue and sales.
Want to learn more? Read the full report here.
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About Urjanet Inc
Urjanet, the global leader in utility data aggregation, simplifies how organizations access and use utility data, enabling them to focus on their business. Our technology collects, processes, and delivers data from over 6,500 electric, natural gas, water, waste, telecom, and cable utilities worldwide.