One of the challenges stakeholders in the real estate sector face when reporting and targeting emissions is scattered data. Yep, it’s as chaotic as it sounds. Energy consumption data may originate from several sources over varying periods, which introduces discrepancies and results in unreliable emission numbers. The fix? Consolidating energy data to get a clearer picture of an asset's actual carbon footprint. 

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This article discusses the challenges of collecting and processing energy consumption data and how this process can be improved. It will also highlight how building owners and managers (both residential and commercial) can use comundo to come to the rescue by consolidating consumption data and automating emissions calculations with high accuracy. 

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Primary data reporting

To determine the emissions from the operations of a building, you first need data on energy consumption. That data may be for electricity, heating, gas, or water. It typically comes from the company providing the utility, with most companies billing consumers monthly. 

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Depending on the country, city, and neighbourhood, the availability of energy consumption data in multi-unit buildings varies. Sure, it sounds simple – just add up the bills, right? However, how the data is reported may vary depending on the utility company and structure. And that creates several challenges. 

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Lack of granularity 

With primary energy data reporting in real estate, a common problem is getting the nitty-gritty details. Buildings with multiple units owned or occupied by different entities may not get exact numbers on energy consumption. 

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For instance, in Denmark, heating provided to buildings is metered for the entire structure, not individual units inside the building. That means you’re left with one big, blurry number, rather than individual readings for each occupant. 

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Multiple sources

The operational carbon footprint of a building or facility comprises electricity, gas, water, and waste data. These numbers roll in at different times from different providers – talk about a juggling act! Some companies may provide monthly data, while others report quarterly. 

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Things get even more complicated for investors in real estate, who may have holdings in different districts, cities, or areas. Managing all that data? It’s a resource-intensive nightmare. 

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Lack of digital smart meters

Even in our high-tech world, some companies are still living in the past when it comes to digitising consumption data collection. This is all the more common with gas, heating, and water utilities. Data reporting in such cases isn’t automated, so stakeholders must collect data manually (paper bills are still a thing!). 

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Emission factors

After collecting data on energy consumption, accurately determining emissions is another challenge. Because the data is all over the place and comes from multiple sources, different emission factors need to be used for each energy type to calculate the overall emissions of an asset. 

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Where the utility doesn’t provide emission factors, building owners, managers, or investors may need to turn to general industry-based emission factors, which aren’t always reliable. It’s kind of like using a one-size-fits-all shoe – it never really fits right. 

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Secondary data consolidation

Data reporting challenges in real estate energy consumption and emissions can be addressed with consolidation – something owners or managers should look into to get a better picture of the building’s carbon footprint. 

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To overcome these headaches, companies should consider looking into data integration platforms and developing standardised data models to address variations in data for different energy sources. 

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Data integration platforms

The right technology can unify your data in one place, performing necessary conversions and calculations to give you data on individual energy sources and overall consumption. Here are some ideas:

• Centralised hub: Establish a central data platform to ingest data from multiple sources, ensuring consistency and standardisation
• API integration: Utilise APIs to connect to various data sources and extract relevant information
• Data cleansing and quality assurance: Implement robust data cleaning processes to address inconsistencies, errors, and missing values

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Sounds good, right? A tool that could consolidate energy data into one tidy dashboard, helping you get the big picture and fine details on your energy consumption and emissions. It’d be like a personal assistant for your energy reporting, with built-in, up-to-date emission factors often provided by utility companies. Where could you find that …

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Data standardisation and harmonisation

To address the variation in data for different energy sources, develop a standardised data model that defines the structure, attributes, and relationships of energy consumption data elements. It’s time to bring some order to this chaos. Map the different data formats to the standardised model to ensure interoperability.

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Maintain comprehensive metadata to provide context and facilitate data understanding. Think of it like putting labels on every file in your folder. This will help analyse energy sources on an individual level. 

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Energy monitoring

Monitoring use is crucial to crack down on those pesky emissions from energy consumption (Scopes 1 and 2). It also helps track the impact of any efforts to lower energy consumption and cost. Again, scattered data from various sources can make this endeavour difficult. You can’t manage what you can’t measure, right? 

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Energy should be monitored both short- and long-term to see consumption trends and the effect of your optimisation efforts. For a better understanding, look at primary and consolidated data. Targeting particular types of energy (we see you, electricity!) may help reduce overall energy consumption and emissions. 

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Energy monitoring also lets you compare the consumption between different assets. It’s a great way to test measures and see their impact before replicating them across the portfolio. For instance, if you’ve installed motion-sensitive lighting in common spaces in a building, you can monitor its effects before installing the same lights in other buildings. 

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Shameless comundo plug: comundo’s dashboard makes monitoring a breeze, bringing all properties and their energy consumption into one view. Think of it as your energy mission control. The dashboard also has filters that let users manipulate data to find trends and track any specific changes relative to their efforts. For larger companies with extensive portfolios of properties, there’s the option of grouping the same types of properties, for example, offices. 

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Data visibility

Whether you’re interested in making your real estate assets greener or are required to report on them, you can’t do much without clear data. Data visibility is key. You need access to all the energy data for effective monitoring, preferably in one place. However, the data should also have detail and context to help make sense of it. 

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Data reporting on building energy consumption is also necessary for certifications such as LEED or DGNB. If your buildings have efficient energy, water and waste management, having them certified by a respectable third party just makes sense. And such a certification wouldn’t be possible without data visibility. 

• If utility companies aren’t providing detailed data on consumption, request it
• Verify the percentage of energy originating from renewable sources instead of relying on renewable energy credits (RECs) 
• Encourage collaboration and data sharing among stakeholders
• Invest in intelligent technologies and sensors to collect granular data on energy consumption
• Participate in industry initiatives and research to stay updated on data-related advancements
• Support open data initiatives to promote transparency and accessibility

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The opportunity in energy analytics

Improving energy data reporting and consolidating it provides all stakeholders (owners, lessors, investors, or tenants) with the power of analytics to find answers to their concerns. With the recent development in artificial intelligence (AI), particularly machine learning (ML), there are opportunities for real estate stakeholders to conduct deep analyses of energy data. With the help of sophisticated tools, real estate stakeholders can unlock valuable insights into their energy data. 

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Energy analytics can benefit various stakeholders in the real estate sector in the following ways:

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For real estate owners and managers

• Identify energy-saving opportunities: Analysing energy consumption data can assist in pinpointing where waste occurs and changes can be implemented 
• Optimise building operations: Optimise HVAC systems, lighting, and other building components to increase efficiency and lower costs
• Prioritise maintenance and upgrades: By tracking energy consumption patterns, owners and managers can prioritise maintenance and upgrades that deliver the most significant energy and cost savings
• Track performance and set benchmarks: Energy analytics track energy performance over time, set goals, and measure progress toward sustainability goals

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For investors

• Evaluate property performance: Energy analytics give a clear picture of the energy efficiency of properties in the portfolio
• Estimate potential cost savings: Use energy data to estimate the impact of improving energy efficiency on costs 
• Identify value-added opportunities: Find ways to boost the value of properties by making them more energy-efficient
• Demonstrate sustainability commitment: Use the energy data to highlight your sustainability initiatives, attracting eco-conscious tenants and buyers

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For tenants

• Understand energy usage: Empower tenants to see their consumption patterns and identify opportunities to cut energy bills
• Make informed decisions: By reviewing energy consumption data, tenants can make informed decisions that support their energy conservation efforts
• Participate in energy-saving initiatives: Energy analytics can encourage tenant participation in energy-saving programs or behaviour changes to reduce usage

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Invest in the right technology

The real estate sector’s carbon footprint is primarily made up of energy consumption. Reducing that footprint isn’t just great for the environment but also for all stakeholders at every level. Proper data reporting and analysis can open new doors for existing properties, from cost reductions to green certifications.

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However, as we've just seen (and oh boy, as we know), energy data reporting isn’t straightforward. Investors and owners should invest in advanced energy analytics and monitoring solutions that address the complexities of data collection and consolidation. Such tools can simplify the reporting process and provide accurate, actionable insights for improving sustainability efforts. 

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comundo, with its proprietary technology, is exactly that kind of solution. Made for investors, developers, and owners in the real estate sector with diverse assets, it automates energy data collection and emissions calculation, enabling transparent sustainability reporting and data-driven decision-making. 

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FAQs

What are the key metrics to report on energy consumption?

Any energy consumption report should cover the following key metrics:

• Total energy consumption: This provides an overview of the overall energy usage in a building or facility
• Energy consumption by type: This breaks down energy consumption into different categories, such as electricity, gas, or heating
• Energy consumption by end-use: This shows how energy is used in specific applications, like heating, cooling, lighting, and equipment
• Energy intensity: This measures energy consumption per unit of output or area, providing a benchmark for efficiency
• Carbon emissions: This quantifies the greenhouse gas emissions associated with energy consumption

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What are the best practices for data reporting on energy consumption?

To improve data reporting on energy consumption, follow the tips below:

• Consistency: Ensure data is collected and reported using consistent methods and units
• Accuracy: Verify the accuracy of data to avoid errors and inconsistencies
• Completeness: Collect data for all relevant energy sources and end-uses
• Timeliness: Report data promptly to enable effective analysis and decision-making
• Clarity: Present data in a clear and understandable format, avoiding technical jargon
• Transparency: Make data accessible and transparent to all stakeholders

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How is energy data collected?

Energy data collection methods depend on the type of energy. For electricity, smart meters, sensors, and IoT devices are used to collect data on usage. For gas and water, analogue or digital meters may be used to measure the flow to a property or its unit. Consumers typically have access to this data through digital portals or apps of the utility providing energy. 

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What are the benefits of energy monitoring?

Energy monitoring can help identify energy waste and opportunities for optimisation. It can help reduce energy costs by reducing waste and increasing efficiency. It also increases transparency and accountability for stakeholders, especially those directly consuming energy like tenants.  

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