BOSTON and CHICAGO, March 10, 2015 /PRNewswire/ -- WegoWise, a building efficiency software provider, today announced its software is being deployed as the first step in an unprecedented energy efficiency program across seven states. The program aims to deliver meaningful efficiency savings to the underserved affordable housing sector through data-driven projects. In addition to WegoWise software, a subset of housing owners will receive expert efficiency consulting services from New Ecology, a sustainable development consultancy and Elevate Energy, an efficiency program implementer.
In 2013, the American Council for an Energy-Efficient Economy (ACEEE) reported the U.S. could save $3.4 billion per year with improvements in the multifamily and affordable housing stock. The program is intended to be a one-stop shop for building owners and managers interested in efficiency retrofits. Thousands of buildings across seven states, including Connecticut, Illinois, Maryland, Missouri, Pennsylvania, Rhode Island and Virginia can enroll in the program.
"Both energy efficiency programs and the multifamily real estate sector are experiencing unprecedented growth," said Ed Connelly, president of New Ecology. "Yet the multifamily market still lags behind the rest of the market in implementing efficiency projects. This partnership solves that conundrum by packaging veteran expertise with advanced technology to deliver hands-on assistance that is affordable, easy to use, and proven to deliver impressive results."
WegoWise enables the automatic collection of utility data and streamlines reporting of actionable information, so owners and managers can target building retrofits that deliver the best returns. New Ecology and Elevate Energy help make data-inspired retrofits a reality. By equipping property owners and managers with actionable utility analytics, building audit best practices, policy and funding support, and expert consulting services, the program is set to rapidly expand the scope and number of affordable housing efficiency projects.
"From revenue management to maintenance scheduling to real-time rent pricing, multifamily building owners are seeing strong returns from technology investments," said Andrew Chen, CEO of WegoWise. "This program helps building owners integrate building efficiency software into a smarter portfolio management strategy."
"Multifamily building owners oftentimes do not have the financial or staff resources to tackle efficiency. Many don't understand the benefits, ranging from reduced utility expenses to increased tenant comfort and engagement—and many don't believe they're worth the trouble," said Anne Evens, CEO of Elevate Energy. "This program is designed to overcome those objections and accelerate efficiency savings to a previously overlooked segment of the real estate market with tremendous opportunity."
WegoWise provides software for more efficient buildings. By automatically integrating a broad range of energy and water data, WegoWise delivers a complete picture of utility use. The intuitive software helps building owners make smarter efficiency decisions that increase cash flow and boost asset value. More than a thousand real estate institutions have added millions to the bottom line with WegoWise. Learn more at wegowise.com.
About New Ecology
Founded in 1999, New Ecology (NEI) is an innovative, nationally-recognized non-profit corporation. NEI's core work is providing energy efficiency and green building services that cost-effectively improve the performance, health, resiliency and durability of buildings. NEI typically works with owners and project teams on multifamily housing, (with an emphasis on affordable housing) and community-based projects such as municipal, educational and arts buildings. Projects include buildings that are being newly constructed, renovated, or are just seeking improved performance. See www.newecology.org.
About Elevate Energy
Elevate Energy's mission is to deliver smarter energy use for all. Elevate designs and implements efficiency programs that lower costs, protect the environment, and ensure the benefits of energy efficiency reach other who need them most. For more information, please visit http://www.elevateenergy.org/.