EnergyX Solutions, a leader in the building retrofitting movement, explains why retrofitting is the best long-term solution!
TORONTO, Canada – (March 15, 2021) – People want to save money on their utility bills, and utility companies want to help consumers find ways to do just that. Even so, there are only so many things one can do when it comes to behavior modification that will result in energy savings. As more utility companies continue to look for options to provide to their customers, many will be turning to build retrofitting as the best long-term solution, and for numerous reasons.
According to The Rockefeller Foundation, in the U.S. alone, investing $279 billion in retrofitting buildings could yield $1 trillion in energy savings over 10 years. The foundation also estimates that it would create 3.3 million jobs, and once the retrofits were successfully in place, it would reduce emissions in the U.S. by 10%. Such significant long-term benefits add up quickly, which is leading many utility companies and consumers alike to consider retrofits.
“Retrofitting is the way to go if you want an investment that pays off and one that truly helps the environment over time,” explains Nishaant Sangaavi, the co-founder and chief executive officer of EnergyX Solutions. “When you compare retrofitting buildings to just having consumers make behavior changes to help save energy, it’s clear to see that retrofitting is the only logical way to go.”
The IOP Science journal issued a report in 2017 that discussed retrofitting buildings in the U.S., U.K., and Malaysia. The researchers considered such things as global warming, depletion of natural resources, economic uncertainty, retrofitting costs, and health issues, among other things. They reported that retrofitting existing buildings is one of the most environmentally friendly, economically competent and proven solutions to optimize energy efficiency, and could even help prolong the life of the existing building.
There are numerous things that should be taken into consideration when it comes to building retrofits, including EnergyX Solutions:
- Across North America, residential buildings alone are responsible for more than 10% of total energy consumption, and up to 80% of that is used for space heating, particularly in colder climate zones. Governments of all levels are mandating deep energy retrofits and net-zero carbon emissions, bringing sustainability to the forefront of a utility agenda.
- The most effective way to significantly reduce energy consumption in a building is through a home renovation that focuses on energy efficiency – insulation, weatherproofing, heating systems. In a typical home, air leakage alone can account for 25–40% of the energy used for heating and cooling.
- Deep retrofits are complex to deliver, involving many contractors, financing, program applications and other barriers for homeowner energy audits are the first step in this process because they outline where the home is losing energy and detail how much a homeowner stands to save. Unfortunately, audits require a homeowner to stay home from work, and there can be lengthy scheduling delays, especially when demand is high.
- To meet our retrofit goals, we have to do more audits. But we can’t do it randomly, and we have to do it in a way that is fast, accurate and scalable. Once we’ve audited every building, utilities must remove barriers and help customers complete every step of the process.
- Innovative technology like RetrofitAI allows us to audit the population at scale, segment the buildings, and enroll people in programs in a way that delivers energy savings and removes barriers to participation. Leveraging this type of cleantech will be essential in delivering on these sustainability promises and supporting customers along the way.
“People are ready for making improvements that will lead to long-term savings and that will create a healthier environment,” added Sangaavi. “Deep retrofits are no longer the future; they are the here and now. They are the solution that everyone was looking for.”
EnergyX Solutions is a leader in the clean energy revolution. It has raised $5 million in dilutive and non-dilutive funding and has had 100% growth each year. The EnergyX Solutions software is an artificial intelligence model that is data-driven, offering updates and strong collaboration with utility partners. It has been designed to offer program automation and workflow and vendor management, and it can run a utility energy efficiency program end to end. Scalable, accurate building audits paired with user-focused and digital program automation will be a critical piece of the retrofit programs of tomorrow.
Utilities and organizations that use the EnergyX Solutions software are able to get the highest net savings per program dollar spent. Additionally, 70% of those who use the software take steps to improve their energy efficiency; the software reduces the number of calls to call centers, helping to save utility money; and it offers fully customized solutions so that people get a unique utility customer experience.
To learn more about the EnergyX Solutions software, visit the site at https://www.energyxsolutions.com
About EnergyX Solutions
EnergyX Solutions Inc. is an AI-powered SaaS company that enables utilities to increase customer participation in energy efficiency programs while simultaneously lowering the utility’s cost to engage and serve a customer. Its MIT award-winning technology is white-label licensed by utilities and government organizations to help them engage customers, manage programs and hit energy efficiency targets. To learn more about EnergyX Solutions, visit the site: energyxsolutions.com
IOP Science. The application, benefits, and challenges of retrofitting the existing buildings. 2017. https://iopscience.iop.org/article/10.1088/1757-899X/271/1/012030/pdf
The Rockefeller Foundation. United States Building Energy Efficiency Retrofits. https://www.rockefellerfoundation.org/report/united-states-building-energy-efficiency-retrofits/