Honeywell partnering with Energy-as-a-Service provider, Redaptive
March 29, 2023 | By HPAC Magazine
The San Francisco-based company helps private-sector building owners accelerate and scale efforts to reduce energy waste, optimize cost, increase resiliency and meet sustainability goals.
Honeywell has announced a strategic investment in Redaptive, a San Francisco-based developer of a Data-as-a-Service metering platform that captures real-time energy use data in buildings. The company also operates as an Energy-as-a-Service business, helping building owners accelerate and scale efforts to reduce energy waste, optimize cost, increase resiliency, and meet sustainability goals. By performing audits of existing building systems, including HVAC and electrical, the company then recommends and oversees the cost and installation of efficient technologies, measures the effectiveness and funds the capital investment through the energy savings being realized.
Honeywell’s investment in the company will help with the deployment of technologies designed to reduce carbon emissions across a large portfolio of buildings. The collaboration combines Honeywell’s energy savings performance contracting (ESPC) and building controls capabilities with Redaptive’s platform.
The Energy-as-a-Service model is well-developed in the public sector/institutional markets, but there remains significant opportunity with private-sector commercial building owners and operators who have traditionally made the full investment in energy audits and upgrades, potentially impeding the opportunity to fully capture energy savings.
The companies suggest that this collaboration will create the opportunity for private sector customers to generate energy savings in a capital efficient manner.
“The time to reduce the energy use and carbon impact of buildings is now,” said Del Misenheimer, president of Honeywell Building Solutions. “We must find ways to bring much-needed technologies and capabilities to many more buildings. Our work with Redaptive will enable us to help more commercial buildings deploy energy conservation projects with innovative capital deployment models and efficiently deliver asset-level analytical insights.”
