Alex Siminoff
August 16, 2023
Managers of multifamily buildings and hotels 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.
Demand response is a strategy employed by energy providers to manage electricity consumption during peak demand 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 intro video:
By participating in demand response programs, buildings will reduce their electricity usage, reduce strain on the grid, and receive financial incentives for their efforts. Parity can automate DR protocols for events and reduce the impact of the temporary energy reduction for occupants.
Buildings get paid per kW reduction during scheduled or sometimes unscheduled demand response events. In a typical season, there could be between 4-8 DR events a year, leading to a great opportunity for buildings to earn additional revenue.
Parity can automate demand response protocols to run during demand response 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 demand response event. This isn’t feasible for maintenance staff to manually do this for Demand Response events.
Parity remotely controls a building’s HVAC systems. This allows Resident and Property Managers to not have to manually perform any protocols, preventing possible mistakes or underperforming.
Source: https://energycentral.com
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 through DR 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!
