BuildingIQ, a leading energy management software company, today announced that its Predictive Energy Optimization™ (PEO) platform will serve as the technology powering Xcel Energy’s Building Optimization Pilot Program. Through this pilot, approximately ten commercial buildings that average daily summer peak load over 500kW within the utility’s Colorado territory will install BuildingIQ’s cloud-based solution.
Participating buildings will experience a reduction in day-to-day energy consumption and can be automatically called upon by Xcel Energy to assist in demand response relief, thus allowing the utility to avoid the need to purchase or produce additional power during periods of high demand.
“Xcel Energy is making its current infrastructure more dynamic while also creating value for its clients with the BuildingIQ platform,” said Michael Nark, CEO of BuildingIQ. “Buildings that have our technology installed will be able to reduce operating costs on a daily basis and participate in demand response events. The cloud-based nature of the platform allows it to be installed quickly and enables users to see results right away, without disruption to a building’s infrastructure or daily activities.”
BuildingIQ’s software leverages predictive analytics to enable intelligent building management. Variables such as occupant comfort, building characteristics, historical data, weather forecasts and utility signals are used to make real-time changes to temperature and airflow in order to alleviate energy usage when the power grid is constrained. The technology allows customers to take control of their energy costs and help improve the environment.
“Xcel Energy is proud to have BuildingIQ as our technology partner for this pilot program,” said Anne Kraft, Pilot Manager on Xcel Energy’s Customer Solutions Team. “BuildingIQ’s PEO platform offers a unique way to combine energy efficiency and demand response in one package and could prove to be a valuable addition to our successful Demand Side Management portfolio in Colorado.”
BuildingIQ’s optimization platform is unique in that measurement and verification (M&V) is an intrinsic part of the system. All collected data is compared to baseline models and reported savings are consistent with International Performance Measurement and Verification Protocols (IPMVP). In addition, through Xcel Energy’s program these savings will be examined by a third-party evaluator.