Managers of multifamily buildings and hospitality properties face a unique challenge in optimizing HVAC systems. With the growing focus on the electric grid and the need to reduce carbon footprints, demand response programs present an excellent opportunity for property and resident managers.
What is Demand Response?
Demand response is a strategy employed by energy providers to manage electricity consumption during peak periods. This typically coincides with the warmest days of summer, when the electric grid is most vulnerable. It involves adjusting energy usage in real-time or on a pre-determined basis to reduce electric demand on-site.
For more context, we suggest watching this short intro to demand response video:
By participating in DR programs, buildings will reduce their electricity usage, reduce strain on the grid, and receive financial incentives for their efforts. Parity can automate this process and reduce the impact of the temporary energy reduction for occupants.
Buildings get paid per kW reduction during scheduled or sometimes unscheduled DR events. In a typical season, there could be between 4-8 demand response events a year, leading to a great opportunity for buildings to earn additional revenue.
How Parity Fits In
Parity can automate demand response protocols to run during DR events. We have a deep understanding of a building’s HVAC systems, so we’re able to automate their system with a unique level of precision.
For example, we have been able to automate ventilation equipment for a DR event. This isn’t feasible for maintenance staff to manually do this for DR events.
We remotely control a building’s HVAC systems. This allows Resident and Property Managers to not have to manually perform any protocols, preventing possible mistakes or underperforming.
Demand response is a powerful tool that property and resident managers can leverage to reduce energy consumption, earn additional revenue, and stabilize the grid. Embracing HVAC optimization is a win-win situation for property managers and their occupants as they contribute to a greener, more energy-efficient future.
Take the first step today and reach out to us if you’re interested in enrolling your building in a DR program!
