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.
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 sub metering implementation and subscription costs for a period of 5 years, following the chart below.
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.
Reducing the cost of installation can be thought of as speeding up the payback period by the same margin. A project with an estimated payback period of one year will be cut down to eight and a half months with a 30% reduction to the installation costs.
*Fun fact: Enertiv was the very first RTEM approved vendor.