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Photo by Avi Richards on Unsplash
February 3, 2022

This is how digital metering systems can secure the future of your properties

Overall, there is a lot of value to be gained in digital metering systems. First and foremost, it provides data that can be used to reduce electricity and heat consumption in buildings, while reducing CO2 emissions. In addition, there is the clear economic saving in that a reduced consumption leads to lower costs. The tenant must thus pay lower monthly consumption costs, and since the landlord can thus ensure both a cheaper rent and a lower CO2 footprint, the leases can become more attractive.

Based on a large EU-funded study from 2019 and the EU Electricity Directive , I will here review the potential in a roll-out of Smart Metering Systems for electricity meters in the existing property stock.

Overall, there is a lot of value to be gained in digital metering systems

Benefits for property owners and administrators

Digital meters make your properties much more attractive. There are many indications that future investments are moving towards green and sustainable products that mitigate climate impacts and their potential effect on the value and longevity of investments. If you, as a property owner or administrator, want to take action early on against the accompanying transition risks that may arise in this shift in investment preferences, high-quality meter data can give you an indication of where your properties are in terms of achieving green investment status. In addition, you get the opportunity to observe the real effect of efficiency measures on consumption, which can be transformed into an overview of the buildings' CO2 emissions.

The benefits of digital meters can therefore be calculated in direct savings benefits for your tenants, which will significantly increase your competitive advantages and also contribute to the retention of the tenants. At the same time, the data can help you into the 'green age', as you can use the data to transform your investments and make them more attractive. If you can document that your property portfolio's CO2 emissions differ significantly from similar properties, you can also market the investment as being green and thereby strengthen its value and obtain benefits such as green loans and insurance.

Benefits for renters

A key item for most businesses is the cost of the office. It will therefore be relevant for most people to be able to monitor their energy consumption on an ongoing basis so that they can act on the data, make changes and assess the effect of these changes on energy consumption and thus reduce costs.

If you are part of a large company that must legally report the company's CO2 emissions or a smaller company that wants to be at the forefront of regulatory requirements and the green transition, data on the company's CO2 emissions is absolutely essential. If your company needs or wants to disclose your product or company's CO2 emissions, it requires that you can also clarify the actual emissions from your office facilities and other buildings associated with your company. In that case, accurate information about the buildings' energy consumption is absolutely central when consumption data is to be converted into CO2 data - data that can be used as evidence for green marketing and lead to increased value creation.

With detailed real-time metering systems, you will be able to manage your various properties and premises meticulously as a 'digital janitor'

Can it pay off?

The short answer is YES! Replacing the metering units for an entire building stock can be costly - but fortunately there are subsidy schemes to pick up, as investments in digital meters are considered 'green', and at the same time you make sure to future-proof and make your properties competitive.

There is also a lot of value to be gained in installing digital meters. The EU's major report, which has analyzed all EU countries' cost-benefit analyzes, indicates that there is an average expenditure of € 172 and a saving of € 253 per year. measuring unit. The total energy saving is resp. 5.42% for meters that provide data on a daily basis and 7.58% for meters that provide live data.

This means that you will have an average saving of 63 € per. meter unit! At the same time, your buildings will have an ongoing energy saving, which of course will automatically be reflected in the overall CO2 accounts. With detailed real-time metering systems, you will be able to manage your various properties and premises in a very meticulous manner like a 'digital janitor' and put in place where there are developments in consumption.

Consumption data can be converted to CO2 data! Digital meters are therefore an easy and inexpensive tool for creating great value
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It’s already happening!

The vast majority of EU Member States are already far along with the roll-out of electricity meters and several countries have in fact finished their roll-out. In fact, several of these countries are already in the process of planning the roll-out of next-generation meters. Already in 2019, Denmark had reached an 80% coverage of digital electricity meters in buildings. So it's just about riding the wave and securing your properties for the future. But installing digital meters is unfortunately not enough. It is absolutely essential that the meter can deliver real-time and is of high quality. At the same time, the data must be actively converted into value, as consumption and CO2 data in itself do not create a saving - it is only when you shop at the information they deliver that you can actively achieve savings.

4 initiatives that can help you create value and reduce costs

  1. Green investments! If you as a property owner want to increase the value of your property by installing digital meters or upgrading the quality of your existing meters, this conversion can actually be categorized as a green investment. Thorough investments in measuring instruments that can make buildings more efficient energy performance contributes to the green transition, as according to the EU Taxonomy (Read also: Can my buildings be assessed as "green investments"? ) Makes a substantial contribution to mitigating climate change.
  2. Consumption data can be converted to CO2 data! Digital meters are therefore an easy and cheap tool to create great value, as you can thereby set precise benchmarks and save a lot of money on hiring expensive consultants to make your CO2 accounts.
  3. Require digital meters! Tenants can demand that the landlord install digital meters if they pay the costs, cf. the Energy Information Order . In this way, you as tenants can also push to reduce your costs and get control of your CO2 accounts.
  4. Benchmarking! Benchmarks can also be used to assess whether and on which buildings a renovation project can achieve a large enough emission saving that these can be assessed as green investments. The fact is that if you can reduce a property's CO2 emissions by 30%, then according to the Taxonomy it can be categorized as a green investment - with the benefits this entails. Digital meters can easily and free of charge help you to demonstrate whether your renovated buildings emit at least 30% less after the renovation.