NYC Apartments Slash Energy Costs 15%
Property management company New Holland Residences (NHR) used WegoWise software to cut its New York City properties’ energy costs by 15 percent and water consumption by up to 40 percent.
Previously, NHR had to dedicate staff time to manually enter utility data into spreadsheets. Using WegoWise software, NHR automatically collected utility bills from its portfolio of 20 multifamily buildings across New York and identified the buildings that would benefit the most from energy and water upgrades. NHR then performed retrofits on the worst-performing buildings, ranging from installing energy management systems to reducing window gaps to upgrading water fixtures. Resultant savings delivered payback in less than a year. The increase in operational efficiency also enhanced NHR’s cash flow and asset value.
WegoWise also helped NHR report on carbon emissions reductions for the New York Carbon Challenge (NYCC), a collaboration between the City and the New York State Research and Development Authority that aims at reducing building-based emissions in New York by 30 percent in the next 10 years. WegoWise streamlined the integration of NHR’s utility data with EPA Portfolio Manager to more easily verify that emissions reductions met NYCC goals.
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