AI Case Study
Kingsbridge Grand saves over $64,000 by reducing building energy consumption by using AI to make HVAC adjustments
Kingsbridge Grand has piloted Parity's software system which adjusts for energy consumption based on the buildings' HVAC system mechanical and sensory data, resulting in over $64,000 in savings in just over a year.
Industry
Financial Services
Real Estate Development Operations
Project Overview
Parity implements its "software-based offering that monitors mechanical equipment in buildings. With Parity, artificial intelligence is introduced into a condo building’s HVAC equipment. This central brain pulls data from the controls and sensors on the mechanical equipment, automatically setting controls and sending out commands to make adjustments. There are no upfront costs to customers; payment is realized through guaranteed energy cost savings."
Reported Results
Parity claims "The energy savings for developers and property managers has been consistently in the 25- to 40-plus per cent range. For Kingsbridge Grand it's been a savings of $64,536 with a payback of 1.3 years."
Technology
Details undisclosed
Function
Operations
General Operations
Background
"Parity Inc. in Toronto has already been making significant inroads in tackling the multi-residential, multi-tenant market." The CEO wanted to look at reducing the demand side of energy rather than ways to increase supply.
Benefits
Data
Data captured by sensors, presumably real-time