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September 22
You made it to Friday.
This week: We're looking into better quality data for building owners and operators. Looking for some future city inspo? This one Spanish town has been car-free for 24 years.
Big news: One of our portcos Mojave shared how it's making AC more sustainable. What’s more is that the startup just announced its $12.5 million seed round co-led by Fifth Wall. This funding will allow Mojave to launch its commercialization rollout, manufacturing, and continue research and development.
Climate Week NYC New York Climate Week is coming to a close—and there was a slew of events, keynotes and programming. Did you join in?
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Here is Greg Smithies, partner and co-head of Fifth Wall's Climate Technology Investment Team (right) and Christopher Creed, the CIO for the DOE's Loan Programs Office (left) in conversation at Fifth Wall's Climate Week Happy Hour.
Plus, the firm's co-founder and managing partner Brendan Wallace shared his thoughts on why he's feeling optimistic about climate solutions for the built environment. Watch his remark's here.
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Data changes buildings for the better
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Tracking energy consumption, collecting efficiency data, reporting emissions—it's become an essential part of the built environment. Yes, because of regulation like New York's LL97. But also, because it's better for the bottom line.
- “What we’re talking about it’s not just about the regulatory aspect. That’s a side piece to us. It’s really about making this data as tangible as the buildings themselves,” said nZero CEO Adam Kramer in conversation with Fifth Wall cofounder and managing partner Brendan Wallace. “There is so much to measure in the built environment. Whether it’s looking at air conditioning, or understanding lighting or looking at the size of the building. And through that data we’re able to show what the impact is from that.”
And the way data is reported and shared is evolving too.
- Billions of dollars are spent on energy efficiency in the U.S. each year without much visibility into how well that investment did. But California is piloting a new way to track energy efficiency that uses real-time data instead of conservative averages.
- Traditionally, the value of an efficiency investment, like solar or energy-efficient lighting, is based on estimates. But doing it this way doesn't take into account when those homes or businesses are using energy. And that's critical.
- But “pay-for-performance” programs piloted in Northern California work a bit differently: “We’re moving from this world of paying rebates based on average savings during any hour of the day, to a world where we can really hone in on paying rebates for savings that are going to make the greatest impact on the grid,” one expert told Canary Media.
The big picture: High efficiency translates into big savings for building owners and operators. Government agencies and utilities that fund energy efficiency upgrades and dole out rebates typically use an average estimate to determine impact, rather than real-time data. Tracking and reporting with better data could lead to even more savings as these estimates are usually on the conservative side.
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STORIES WE READ THIS WEEK
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Fifth Wall
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This post is presented for informational purposes only, is not intended to recommend any investment, and is not an offer to sell or the solicitation of an offer to purchase an interest in any current or future investment vehicle managed or sponsored by Fifth Wall Ventures Management, LLC or its affiliates (collectively, “Fifth Wall”; any such investment vehicle, a “Fund”). Any such solicitation of an offer to purchase an interest will be made by a definitive private placement memorandum or other offering document.
Forward-looking statements and opinions as to carbon reduction initiatives and real estate markets or any other matters, as expressed in this presentation, are those of the individual presenters, but are not necessarily the views of Fifth Wall as a firm, and cannot constitute a guarantee of future success or profitable results. As a result, investors should not rely on such forward-looking statements and/or opinions, or on anything else contained in this post, in making their investment decisions. Moreover, certain information contained herein may have been obtained from published and non-published sources prepared by other parties and may not have been updated through the date hereof. While such information is believed to be reliable for the purposes for which it is used herein, Fifth Wall does not assume any responsibility for the accuracy or completeness of such information, and such information has not been independently verified by Fifth Wall. This post speaks as of its publication date, and Fifth Wall undertakes no obligation to update any of the information herein.
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No assurances can be given that any of the carbon reduction initiatives or other initiatives described in this post will be implemented or, if implemented, will be successful in effecting carbon reductions or any other initiatives. Investors should consult their own financial, tax, legal and other advisors in connection with any potential investment. |
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