Energy management and utilization efficiency are the biggest challenges facing landlords, tenants, and property managers. You cannot measure something if you cannot manage it, hence the need for using sub meters to measure the energy consumed. A Sub meter is a physical metering device for monitoring electricity, water, gas, and other utilities. A submeter sends this information to a company that has installed it.
Here are the advantages of submetering:
- Help to make tenant billing effortless
Tenants trust landlords to charge them accurately and fairly for the energy they use. However, without submeters, landlords cannot know the accurate energy bills to charge the tenants. Some landlords charge tenants a part of the energy bill, depending on their lease space.
For example, a landlord might charge a restaurant and a boutique the same water bill because they occupy the same square footage. It might be unfair because the restaurant consumes more water than the boutique tenant.
By using the submeters, landlords can charge the tenants accurately by the energy, water amount the tenant has consumed in a specific period of time rather than charging tenants on the basis of assumptions. Landlords can use an automated billing system process to calculate tenant bills using their existing submeters.
- Provide energy data visibility to tenants
While having accurate energy bills is excellent, tenants might also want to see the real-time data for their space. It helps the landlords interact more with the tenants and provide them with a special offer making your building have a competitive advantage over other facilities.
Tenants can see how their behavioral changes affect their energy bill when using real-time energy data. The tenants will see how their sustainability efforts affect their energy bill. It will motivate them more to conserve their energy by making simple adjustments like socket load and heating during off-hours.
- Participation in energy reporting and benchmarking
Reporting and benchmarking electricity, water, and energy through sub meters gives the best look at how your building stacks up to the competition. Using sub meters can give your building a star on how well you are using energy. Local governments need energy data for benchmarking and reporting to the public. Buildings need to be transparent and provide accurate data on their energy consumption.
Submeters help you to collect data and provide information on the energy efficiency of your building and help you to reduce energy consumption. Reporting energy data to the public can help landlords to manage their energy consumption effectively.
- Become a corporate responsibility leader
Corporate responsibility is an essential factor in every organization. Many tenants, landlords, and companies desire to understand their impacts in the world. Using sub meters provides visibility on how people use energy, allowing key energy users to make decisions on how to reduce energy consumption and increasing its efficiency.
Submeters help landlords and tenants to take part in sustainable and energy efficiency competitions. The competitions concentrate on how buildings utilize water, electricity, and gas and compare them to find out which facility is energy efficient. It can help in bringing attention to your building and increasing its value.
- Help to discover future energy-saving opportunities
Using submeters can help in identifying opportunities for saving energy in the future. You will now get to know who uses the most energy in your building and for what purpose. You can look for cost reduction methods and energy-saving ways as you can measure your energy consumption using the submeter. You can monitor energy-consuming equipment and make changes to use those that are more energy efficient. Submetering can also help you to identify types of equipment that contribute to energy loss.
- Help in identifying the project’s ROI with measurements
Submetering helps landlords and property managers to take an extra step to be more energy efficient. It is important to identify key indicators of performance and data to take energy conservation measures. It would be best if you have the right tools before investing in lighting and energy conservation measures. Submeters help in collecting data to establish energy conservation methods, track the progress, and measure results for each process you take on conserving energy. Tenants are progressively adapting to the use of submeters.
Submetering helps both tenants and landlords to save more money and conserve energy. Through the use of submeters, buildings can be more energy efficient. Landlords can charge their tenants accurately and fairly on their energy bills. Also, tenants can see real-time data on how they consume energy and change their energy consumption to reduce their bills.