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The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.
BuildingIQ Energy Management System (NSW)
This innovation initially came to life when…
Founded in 2009, BuildingIQ’s mission is to redefine the way energy is managed in commercial buildings. Developed through years of scientific research at Commonwealth Scientific and Industrial Research Organisation (CSIRO), BuildingIQ is the only scientifically-proven predictive modelling tool for intelligently controlling commercial building energy consumption with virtually no startup costs for the consumer. Using real-time data on weather, building environment and occupant comfort, the software adjusts settings as necessary to ensure energy consumption is optimised.
WHAT & HOW
The purpose of this innovation is to…
BuildingIQ’s cloud-based software predicts and manages energy consumption in commercial buildings without sacrificing comfort. It can save 10-30% of building energy with little or no capital and is designed to supplement a building’s existing standard Building Management System.
It does this by…
BuildingIQ energy management software sits on top of a building’s BMS, working to automate processes to create savings and cut energy consumption. It uses the first-ever intelligent, predictive energy modelling solution, which not only analyses but manages energy consumption. The software makes HVAC adjustments as necessary based on a variety of factors, including weather and temperature.
PURPOSE & BENEFITS
This innovation improves on what came before because…
Today’s energy management systems are riddled with reports that passively point to data that has been logged over the course of time. But it only highlights the problem after the fact, and doesn’t point to a solution. BuildingIQ is proactive and makes changes in real time. It intelligently manages, not just monitors and reports, energy consumption.
Its various benefits to the customer/end-user include…
The bottom line for the customer is simple: reduced energy consumption, lower utility bills and a reduced carbon footprint. With 10-30% savings in energy with no significant upfront capital expenses, it’s all about saving money.
COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Put simply, predecessors did not solve the problem. While these programs and software successfully reported on energy consumption and provided valuable data to building owners, there wasn’t a solution presented to make changes. Data is nice, but without action, it’s worthless. Plus, BuildingIQ is the first to offer its software as a cloud-based, subscription service.
Its predecessors/competitors include…
Today there are several vendors that offer pieces of energy management. Primarily facility managers’ only option is a manual roach. Using data and outputs from various reports, they try to control a building’s energy use on an ad hoc level.
TARGET MARKET
It is made for…
By 2020, cleantech market intelligence firm Pike Research forecasts that annual Energy Management Systems (EMS) revenues in the U.S. will reach $6.8 billion. A global opportunity for BuildingIQ, the addressable market exceeds $2.5 billion. Specifically, the annual revenue potential is $660 million for buildings greater than 100k-200k square feet, $573 million for 200k-500k square feet, $544 million for 500k-1m square feet, and $729 million for buildings greater than 1m square feet, totaling $2.507 billion.
DISTRIBUTION STRATEGY
It is available for sale through…
BuildingIQ is working with major BMS vendors such as Schneider Electric on demonstration projects and channel partnerships. BuildingIQ is expanding into the U.S., having announced the U.S. launch of its Predictive Energy Optimisation system in August 2010.
Our marketing strategy is to…
BuildingIQ is offered as a service with a subscription business model that is designed to integrate with other building management systems. Customers subscribe to the software on a monthly basis. It is promoted as the first software platform to effectively predict and manage, not just report, a building’s energy consumption. BuildingIQ also partners with vendors and industry leaders.
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