WegoScore: An Efficiency Rating for Apartments
WegoWise launched a new rating – WegoScore – to provide a numerical assessment of an apartment building’s utility usage.
Building on the progress of LEED and other green certifications, WegoScore grades all aspects of a building’s ongoing utility performance rather than a building’s design or construction.
WegoScore assesses buildings for three separate factors: energy, water and carbon.
The scoring algorithm examines the normalized usages for buildings of a given type (highrise, lowrise, etc.) in a particular climate. A building is given a WegoScore from 1-100 based on where it falls in the resulting distribution. The WegoScore is a grade rather than a rank, capturing and reflecting the relative difference between buildings’ performances. Buildings with exceptionally high scores receive certificates and decals to promote their achievement.
WegoScore is designed to condense numerous complex measurements of building performance into one number. It is a tool for the real estate industry to communicate efficiency efforts among owners, managers and occupants. It also can highlight superior asset management practices to the financial markets.
WegoWise customers can access their WegoScore online through their standard account login. Customers including Peabody Properties, The Schochet Companies, Abode Communities, New Holland Residences and more across North America will receive WegoScore decals for their high-performing buildings.
The US Green Building Council is working on something of a similar concept with its LEED Dynamic Plaque, “to bring the LEED program to life.” Scott Horst, the chief inventor of the new measuring tool for LEED-certified buildings, said LEED Dynamic Plaque is “a paradigm change from recertification to on-going certification; it’s based on real outcomes instead of tracking documentation.”
Asked how WegoScore compared to LEED Dynamic Plaque, Barun Singh, CTO of WegoWise said, “It is a challenge to know what the (LEED) scores really mean without seeing the algorithms used to derive them. WegoScore is also a performance based metric, built on the largest collection of multifamily building utility data in the world. Our automated data retrieval makes it much easier to actually get a score, and also allows us to dynamically update scores over time. WegoWise is highly committed to complete transparency in terms of our scoring algorithm, which will help ensure WegoScore’s relevance overtime.”
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