Energy Direction

By on Jul 13, 2018 in Energy, News, People

Matt Eggers, vice president of Yardi Energy, has joined the board of directors for the Institute for Market Transformation (IMT), a nonprofit that collaborates with building owners, tenants, governments and others to create research, programs, and policies that promote energy efficiency in buildings. Prior to Yardi, Eggers held management positions with Tesla Motors, Sunrun Inc., Bloom Energy and Genentech.

“I’m honored to work with this group of distinguished public and private sector experts,” said Eggers. “I am excited to collaborate with IMT because Yardi shares its goal of helping building owners save money and reduce their impact on the environment. I look forward to working with IMT and its partners to identify and apply smart technology investments that support this mission.”

“We are pleased that Matt accepted the Board’s invitation to join our remarkable group of leaders. Matt brings invaluable expertise in identifying private-sector trends and innovations around energy efficiency in real estate. Matt and Yardi have been close partners and advisors to IMT for several years, focusing on landlord and tenant collaborations in making cost-effective and energy-efficient spaces. We look forward to building on that relationship,” said Cliff Majersik, executive director of IMT.

Eggers heads the Yardi division responsible for developing innovative software and services for energy management and the Internet of Things (IoT). Yardi offers real estate businesses the Yardi Smart Energy Suite to help manage costs, consumption and efficiency with an energy program that fits each company’s sustainability goals and streamlines processes.

The Balance Sheet asked Eggers to elaborate on IMT and his role on the board:

Q: Can you talk a bit about IMT, its purpose and how it works?

Eggers: IMT understands that Americans spend more than $400 billion annually to heat, cool and power the places where they live and work. The organization and its industry partners aim to incorporate efficient energy consumption practices for everybody’s benefit—owners, occupants, governments, utility providers and anybody who wants a healthier environment.

I’ll quote from its website: “IMT envisions a world in which buildings are efficiently and positively transforming our physical, social and economic well-being. Our work establishes global best practices and focuses on solutions that can be replicated in localities of various sizes and geographies to deliver big efficiency gains.” IMT aims to turn sustainability initiatives into standard business practices by harnessing such market drivers as building energy codes, building performance policies and programs, and getting all stakeholders involved.

Q: Has Yardi previously crossed paths with IMT initiatives?

Eggers: Yes. As one example, IMT developed and collaborates with the U.S. Department of Energy on Green Lease Leaders, a program that encourages real estate practitioners to invest in such technology as high-efficiency rooftop air handling units, lighting retrofits, water irrigation upgrades and solar panels. Several Yardi Energy clients, including Kilroy Realty Corporation, participate in Green Lease Leaders.

Q: What’s the connection between the Yardi Smart Energy Suite and IMT’s mission?

Eggers: Our energy management products are tightly focused on promoting efficiency and sustainability for properties, just as IMT is. For example, Yardi Pulse solutions can reduce heating, ventilation and air conditioning energy consumption by 30% and total energy consumption by up to 15%. One client, SL Green, which is Manhattan’s largest office landlord, achieved annualized estimated savings of 7% of its HVAC spend and increased its ENERGY STAR score by 58% where Yardi Pulse Active EE was implemented. Conifer Realty LLC, another client, documented thousands of dollars of savings per property with Yardi Utility Expense Management. Another client reduced late fees and payment delinquencies by 90% each, just from more efficient processing.

In addition several Yardi staff members have earned Certified Energy Manager designation from the Association of Energy Engineers, the leading credentialing body for energy managers.

So our energy management team and product line are fully aligned with IMT’s objectives. That’s why I’m excited to join the board, and I think I’ll bring a lot to the table on behalf of Yardi. I look forward to getting to work on it.

The Balance Sheet will publish regular updates on Eggers’ work on the IMT board. To learn more about the Yardi Smart Energy Suite, visit Yardi.com/SmartEnergy.