Understanding and reducing carbon emissions in buildings is becoming a priority in New York City. As the U.S. Energy Information Administration highlights, electricity alone accounts for 60% of total energy use in commercial buildings. To tackle this issue, several tools are available that can estimate carbon emissions based on an electric bill. However, these estimates are often rough and do not consider the fluctuating nature of renewable energy sources like wind and solar power.
Recognizing the need for more accurate data, Nzero, a carbon-tracking startup, has developed a new algorithm that provides building owners with detailed reports estimating carbon pollution on an hourly basis. While some buildings already have advanced meters and sensors that provide this data, many do not. Nzero aims to bridge this gap by offering accurate estimates even without advanced equipment.
This issue is particularly challenging for real estate investment trusts (REITs) that operate under triple net leases. In this arrangement, the REIT is responsible for the building’s emissions, but as they do not pay the utilities, they often have limited insight into the pollution generated. Many REITs struggle to obtain the necessary data from their customers, hindering their efforts to reduce emissions.
To address this challenge, Nzero utilizes building information such as address, square footage, and heating and cooling systems to generate more accurate emission estimates than what owners previously had access to. By providing this crucial data, Nzero’s software helps building owners identify effective upgrades and retrofits that reduce emissions while remaining cost-effective.
However, it is important to note that data collection and compliance reporting are just steps towards the ultimate goal of decarbonization. John Rula, Nzero’s CTO, emphasizes the need to promote and accelerate decarbonization as the end goal. While Nzero’s algorithm and software offer valuable insights, the true objective is to drive meaningful change in reducing carbon emissions.
By leveraging Nzero’s algorithm and software, building owners in New York City can gain a better understanding of their carbon emissions. This data empowers them to make informed decisions about energy usage and identify opportunities for improvement. As the city continues its efforts to combat climate change, accurate carbon tracking tools like Nzero’s will play a vital role in achieving a more sustainable future.
