MULTI-RESIDENTIAL ENERGY MANAGEMENT
Energy represents 35-50% of annual operating expenses for condo and multi-residential rental buildings. Reducing energy use is an attractive and effective way for owners to save money on operating costs, but there is often limited desire or ability to cover upfront costs.
Parity is a proptech startup focused on reducing the carbon emissions of condos and multi-tenant buildings using AI, helping buildings save 25-35% on heating and cooling bills ($50K to >$100K in annual gross savings) with no upfront costs or dependency on peak management.
Parity’s cloud platform applies AI and machine learning to HVAC operations, collecting and analyzing data to help the systems run more efficiently. It uses predictive weather control to control heat latency and incorporate pre-heating and cooling, reducing the cost of energy bills. Effectively, the company puts a smart thermostat on a building’s entire HVAC system while integrating across all OEM equipment.
[BetaKit] Former Enercare CEO John Macdonald joins Parity as chair of the board (Jul 19, 2019)
[Financial Post] AI revolution brewing in property business promises to make buildings greener and cheaper to operate: Building owners and developers are flocking to property technology systems and tools to try and make their buildings more energy efficient (Jul 17, 2019)
[Financial Post] Condo owners and managers save on hefty utility bills with help of AI: Software-based offerings monitor mechanical equipment in buildings to prevent waste and costs (May 29, 2018)