Retroficiency, provider of the on-demand Building Efficiency Intelligence (BEI) platform, has surpassed the 100 million s/f mark in total building space evaluated. In October, Retroficiency announced its 25 million s/f evaluated milestone, which took approximately six months to reach. Only six months later, the company quadrupled its total s/f in building space, spurred by new customer wins and greater penetration amongst its existing base.
Retroficiency allows energy service companies (ESCOs), utilities, facilities managers and building owners and investors to prioritize high potential buildings and evaluate thousands of efficiency measures in minutes. Retroficiency's Virtual Energy Assessment (VEA) solution can determine savings opportunities across a large portfolio without ever going on-site, while its Automated Energy Audit (AEA) streamlines the traditional energy audit process by up to 80%.
"In the past year, we have seen a strong market need for solutions that can bring scale to building energy efficiency by evaluating opportunities more quickly and inexpensively," said Bennett Fisher, CEO of Retroficiency.
"Right now, we're focused on adding new customers and bringing in new talent to further develop our offerings. I'm really proud of our team, and I'm looking forward to what's ahead."
With an estimated potential building retrofit market of more than $400 billion, and one-third of all buildings ripe for a major green retrofit, Retroficiency is well positioned to capitalize on the opportunity. According to Pike Research, energy efficiency projects could save more than $40 billion in annual commercial building energy spending each year. Additionally, a recent study from Deutsche Bank estimates green retrofits could save buildings $1 trillion in energy spending.