Webinar: NYC Green Leasing & Smart Submetering

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Smart leases and submeters at forefront of commercial real estate best practices

The NYC Green Leasing & Smart Submetering webinar, hosted by New York City 2030 District, took place on August 16th. The scope of the webinar was to provide tools and resources to facility owners, managers and operators in NYC to identify, promote and implement strategies to comply with regulation and leverage financial and energy incentives available to reduce the energy consumption in their buildings.

CircuitMeter’s Kelly Reiser, VP Sales North America, was invited to discuss smart submetering solutions as a way to enable building owners and managers to maximize their building’s value by reducing operating expenses and boost their bottom line. He provided an overview of NYC LL88 which requires all non-residential buildings greater than 25,000 sq. ft to install electrical submeters for each large tenant space greater than 5,000 sq ft and highlighted the fact that the required submeters must be in place by January 1st, 2025.

The webinar also highlighted the benefits of programs such as NYSERDA’s Real Time Energy Management (RTEM) program which provides up to 30% of the cost of overall RTEM project expenses such as the installation of sensors, meters and other equipment, along with a data analytics platform to show how a building or facility is performing in real time. NYSERDA estimates that commercial and multi-family buildings can save 15% to 30% a year on electrical consumption with the use of cutting-edge real time energy management technology.

Also featured in the webinar was the Institute of Market Transformation (IMT) with a discussion on bringing commercial real estate best practices to market including High Performance or Green Leasing. Alexandra Harry of IMT demonstrated that Green Leases can reduce utility bills by up to $0.51 per square foot and cut energy consumption in a building by up to 22%.

If you missed this webinar, you can view a recording here.

 

About NYC 2030 District

The private-sector led NYC 2030 District is a catalyst to advance sustainable energy projects, programs and technologies, and promote sustainable progress through policies, investments, collaborations, and behaviors on the local level. The goal is to harness the full potential of sustainable energy in a targeted district to achieve greater economic prosperity, energy security, and environmental protection in New York City. NYC 2030 District will advance the goals of the City’s OneNYC, One City Built to Last, 80 X 50 commitment and NYS Reforming the Energy Vision (REV).