As we are slowly returning to in-person events after nearly two years of only virtual meetings, it was a great pleasure to be invited as a guest speaker to the Technology and Innovation in Real Estate panel discussion at the React2021 conference in Miami organised by the FIU Hollo school of Real Estate.
The real estate market in South Florida has always been very active thanks to the attractiveness of its geographical location. Its tropical climate welcomes leisure visitors and businesses from all over the country and the world fuelling the rapid growth of the real estate sector.
High humidity and warm temperatures, however, require intensive air conditioning of all properties, big and small, all year around leading to significant electrical bills.
Energy optimisation and utility bill reduction are not new and have always been top of the agenda for property managers. In the US, residential and commercial buildings account for nearly 40% of the nation’s total energy demand—more than America’s industrial (32%) or transportation (28%) sectors. US real estate sector also accounts for roughly 74% of all electricity use. More, buildings are one of the biggest consumers of the world’s primary energy producing a fifth of the world’s carbon emission. With ~30% of the used energy being wasted, the real estate sector has a lot of room for improvement.
The 46th U.S. president published his vision for a Clean Energy Revolution and Environmental Justice with a proposed $1.7 trillion investment to achieve clean economy with net-zero emissions by 2050. This plan, among other initiatives, includes the efforts to improve energy efficiency in real estate. In particular, the aim is the reduce the carbon footprint of the U.S building by 50% by 2035.
To meet this challenging goal, we should carefully look into property operations to identify inefficiencies. One single large area stands out – HVAC (heating, ventilation, a/c) systems. By improving the way HVAC systems are managed – by enabling precise and predictive management of the individual devices we can significantly improve the situation.
Our software, arloid.ai, an AI-powered solution, helps facility and property management companies to efficiently manage the complex HVAC systems through predictive temperature micro-adjustments for individual devices. The fully automated process is guided by a sophisticated AI algorithm that takes into account Big Data (such as weather for a 10-year period specific to the site geo-location, the site construction materials, the building floor plans and geometry, occupancy rate and other environmental parameters). The proprietary solution, based on Deep Reinforcement Learning, requires only 30 days to derive the optimal settings for each HVAC device on short time intervals to achieve significant (up to 30%) reduction in CO2 emission and utility bills while delivering an increase of up to 60% in tenants’ thermal comfort.
In other words, facility and property management companies can very quickly see the significant impact on their bottom line thanks to the innovative intelligent automated platform. To complete the picture, there is no interruption to daily site operations while we connect to the building, no complex hardware installation and no upfront fees/CAPEX. We operate a gainshare model – we are paid only when you see the savings.
To learn how can arloid.ai help you to increase your customer satisfaction and significantly reduce your utility bills and carbon footprint, reach us on firstname.lastname@example.org.