Record-Breaking Sustainability Metrics Demonstrate an Increased Commitment to Energy Efficiency and Demand Flexibility Among Commercial Businesses
New GridPoint metrics analyzing 2022 customer impact total $149 million in energy cost savings, more than 1.9 billion pounds of carbon emissions avoided and substantial increases in demand response participation.
RESTON, Va., April 12, 2023 /PRNewswire-PRWeb/ -- GridPoint, a leader in energy management and optimization technology that decarbonizes commercial buildings, today announced a record-breaking year in terms of advances in sustainability impact. Over the course of 2022, GridPoint saved customers more than $149 million in energy costs – a nearly 50% increase when compared to total energy savings in 2021 – avoided over 1.9 billion pounds of CO2e, and expanded to more sites than any prior year in company history.
"The combination of corporations eager to mitigate rising energy costs, paired with GridPoint's subscription model that removes financial barriers and accelerates the timeline to realize energy savings, proved to be a powerful duo in 2022," said Mark Danzenbaker, CEO of GridPoint. "The major growth GridPoint accomplished is not only a testament to our talented team but an indication that there is increased awareness of the relationship between reducing costs and improving sustainability. It definitely pays to go green."
A recent GridPoint survey found that rising energy costs are likely accelerating energy efficiency plans by decision-makers for their organizations' energy efficiency, facility management or sustainability efforts. According to more than 800 professionals surveyed in the U.S. and Canada, rising energy costs are a top-of-mind issue across the board with 99% of respondents expressing at least some level of concern for rising electricity bills. In terms of realized energy cost increases, 79% of respondents experienced energy cost increases in the last 12 to 24 months with 27% categorizing the increases as "significant."
A $75 million strategic investment in March of 2022 helped fuel GridPoint's historic year of growth, leading to the biggest increase of energy cost reductions and avoided CO2e emissions in company history. Since its inception in 2003, GridPoint has helped customers save more than $873 million in total energy costs and avoided more than 11.9 billion pounds of CO2e. In 2023, GridPoint expects to reach the milestone of $1 billion in cumulative energy cost savings for its customer base.
Another area of significant growth for GridPoint in 2022 was through engaging customers in demand response, a concept where changes in electricity usage by consumers are incentivized by utilities to decrease demand and maintain grid reliability during high-use periods. A combination of rising energy costs, increased power interruptions and a growing commitment to sustainability sparked a 150% increase in demand response site participation among GridPoint customers in 2022. GridPoint supported growing interest in demand response by enrolling new sites in addition to expanding demand response programs available at already active sites. GridPoint anticipates even larger increases in both demand response revenue and participation in 2023.
"The increase we're seeing in demand response participation is especially heartening because we're enabling this underserved sector of small to mid-size buildings to participate and we're doing it in a way that doesn't impact day-to-day business operations," said Danzenbaker. "Because of our automated demand response capabilities, we're also able to provide unprecedented reliability in curtailment against nominations. Our customers are more motivated than ever to be a part of the solution and take meaningful action to stabilize the grid during times of excessive strain on capacity."
In recent months, GridPoint received a number of noteworthy awards and industry recognition including a spot on the Inc. 5000 Regionals Mid-Atlantic fastest growing companies list, for the third consecutive year Inc. has identified GridPoint as a high-growth company. GridPoint also received recognition by the IOT Magazine Platform Leadership Award, the Northern Virginia Technology Council's Tech 100 list, Business Intelligence Group's Sustainability Award, and Frost & Sullivan's Global Customer Value Leadership Award, among others.
About GridPoint
GridPoint is a leader in building energy management and optimization technology that decarbonizes commercial buildings and accelerates a more sustainable future. GridPoint's data-driven platform connects energy grids with the built environment and behind-the-meter distributed energy resources, enabling the ability to optimize energy and sustainability goals for businesses and the grid at the same time. GridPoint's technology platform is deployed in 17,000+ commercial buildings across multiple industries. Leveraging data analytics, intelligent automation and machine learning to deliver unprecedented visibility into complex building operations, GridPoint reduces energy costs, maximizes decarbonization, provides actionable facility insights and strengthens resiliency – building by building. Networked together, buildings with GridPoint Intelligence™ aggregate the reliable, precise and instantaneous capacity that energy grids increasingly require. GridPoint's intelligent energy network of buildings is driving grid modernization and accelerating the transition to a sustainable energy future. For more information, visit https://www.gridpoint.com/.
Media Contact
Elizabeth Buccianti, Gabriel Marketing Group (for GridPoint), 407-463-8865, [email protected]
SOURCE GridPoint
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