Today we’re excited to announce a new partnership with The Shidler Group, one of the nation’s most innovative commercial real estate investment organizations, to launch a two-month pilot focused on identifying energy efficiency opportunities at the historic Waterfront Plaza in downtown Honolulu.
Shidler is laser-focused on finding fresh ways to improve tenant experience and advance environmental sustainability, and this pilot is an opportunity to advance both through value-driven carbon elimination. We expect to uncover significant Efficiency Reserves — the hidden and scattered energy inefficiencies found throughout commercial real estate properties — to increase the value of the property, improve tenant comfort and significantly cut carbon.
Shidler joins a growing group of organizations, including Elemental Excelerator, Ulupono Initiative and other local real estate investors, which have been working with Carbon Lighthouse since 2016 to build a stronger and more sustainable Hawaii through profit-driven carbon elimination.
Waterfront Plaza is a mixed-use property located on Ala Moana Boulevard, covering nearly 535,000 square feet. It is comprised of seven, five-story office buildings and Restaurant Row, which includes a variety of upscale restaurants, small specialty eateries, retail shops, financial institutions and healthcare tenants. The Carbon Lighthouse analytics process is expected to begin in fall 2018.
Using our proprietary CLUES® software platform, Carbon Lighthouse engineers will deploy hundreds of sensors throughout Waterfront Plaza to collect several new and distinct types of building data on top of leveraging existing building management system data. Using this vast original data, we’ll model hundreds of energy scenarios optimizing existing equipment to arrive at the most financially beneficial solution for each building. This includes on-site renewable energy opportunities when possible.
All of this reduces the risk for building owners because measures that significantly improve asset value can be implemented without upfront costs or disruptive construction. We guarantee the real dollar value of estimated energy savings by continuing to stay engaged with the property and its onsite teams to ensure the energy efficiency measures persist long-term. The result is sustained building financial value, increased tenant comfort and reduced carbon emissions. Not too shabby, if you ask us.
Hawaii’s continued climate leadership inspires us each day — it was the first state to adopt a 100 percent renewable energy requirement for electricity generation by 2045. And we’re energized by our growing momentum in the islands, which the Shidler partnership propels even further. We look forward to completing the pilot and providing more value to Shidler’s portfolio of commercial real estate assets.
Here at Carbon Lighthouse, we’re all about the impact — helping our customers profit from carbon elimination. Because when they do, everyone does.