AI-driven energy storage provides LBA Realty with 1.3 MW of battery capacity to use for energy cost savings and local grid support. By automating energy savings, the Stem project supports LBA’s goals of continued excellence in every aspect of property operation. The Stem system has lowered monthly peak demand charges by as much as 13 percent, saving more than $100,000 in 2017. And while LBA Realty has made impressive efforts to reduce its own carbon footprint at Park Place, it is now also able to serve the broader Irvine community by contributing to a more reliable and sustainable grid. Within the last year, Park Place helped keep the lights on by delivering between 600kw to 1300kW of clean, reliable electricity supply during multiple heatwaves. Working with Stem to socialize the solution and its benefits to LBA property managers, existing tenants and potential clients helps LBA demonstrate its sustainability leadership and commitment to minimizing tenants’ costs, which in turn are helping them with tenant retention and new tenant acquisition. LBA Realty received the 2018 Smart Energy Decisions Innovation Award for its work with Stem at Park Place.
