What is RTEM?
RTEM stands for Real Time Energy Management systems, which continuously collect live and historical performance data through a cloud-based platforms. That data can be analyzed to uncover optimization opportunities for the asset. In New York, the New York State Energy Research and Development Authority (NYSERDA) has created an incentive program to help with the upfront cost of installing such a system.
Why it Matters
NYSERDA offers a 30% cost-share incentive for landlords to deploy real time energy management (RTEM) solutions from approved vendors*.
Specifically, the RTEM NYSERDA program helps support submetering solutions implementation and subscription costs for a period of 5 years.
When originally launched in 2016, the program had $30 million in funding. In 2017, Governor Cuomo announced an additional $12 million in funding. This included $5.7 million in direct incentives for RTEM projects in the industrial sector, $830,000 for multifamily RTEM projects, and $6 million for commercial RTEM projects that include cloud-based controls.
In late 2018, the total pool was raised to $42 million and the caps on the number of buildings per portfolio, allocation per vendor and building type were removed. In addition, the maximum amount per project was increased from $150,000 to $400,000 and clarifications were made on which technologies were eligible for the RTEM incentive.
To learn more about the changes and the new economics, we put together a video explanation: