Every dollar counts in a small co-op

• Client Name: 315 W 55th Co-Op
• Industry: Residential Property Management
• Client Representative: Nathan Lichtenstein, Co-Op Board President

Challenges Faced:
The primary challenge was to reduce energy costs in a way that was both significant and measurable, without compromising the comfort of the residents. The co-op needed a solution that was not only effective but also offered a tangible return on investment.

Solution Implemented:

Runwise provided smart controls with features that included:

• Real-time monitoring of energy savings.
• The capability to remotely monitor and control the heating system through a mobile app.
• A guarantee of savings, with a promise of a refund if the savings did not exceed the service fees.

Results Achieved:

• Substantial Energy Savings: The co-op achieved a 31.6% reduction in energy costs compared to the previous year.
• Financial Impact: The savings amounted to $5,749 annually, which translated to approximately $125 per family in the co-op.
• Return on Investment: The savings were double the amount of the service fees paid to Runwise, affirming the financial benefits of the system.
• Enhanced Operational Control: The ability to monitor and control the system remotely added a layer of convenience and efficiency.
• Environmental Benefit: Reduced fossil fuel consumption contributed to helping with climate law regulations.
• Resident Satisfaction: Shareholders appreciated the dual benefits of increased comfort in their apartments and tangible money savings.

This case study underscores the potential of smart energy management systems to make a significant impact on both the financial and environmental footprint of cooperative housing, all while enhancing the living experience of its residents.