The Utility Budget Tracking chart shows your utility spend against your monthly budget.
Yearly View
See which months you came under or over budget with red and green indicators. In the table below, weather and occupancy are displayed along with your blended rate, total charge, and total budget for deeper analysis.
You can change the year and measure using the drop-downs in the top right. Go into a specific month by clicking into one on the chart, or change the 'Show Data For' dropdown.
Monthly View
The monthly view displays your current and projected spend for the month, highlighting where you are relative to your budget. Hovering over each day in the month will show you how much was spent or is projected to be spent on utilities.
Your building's spend up until the current day is calculated by multiplying the current monitored consumption (taken from real-time energy readings and/or bill consumption data) by the blended rate calculated from your most recent utility bill(s). The calculated rate is displayed immediately below the graph. You can change this rate by updating it in the field below the graph to see different, potential scenarios. If we do not have any bills in our platform, we will default to $0.12 per kWh. To learn more about syncing utility bills click here
Your building’s projected spend from the current day through the end of the month is calculated by factoring in your building’s past usage, the impact of weather, and lease hours. This projection can be used to inform accrued expense estimates and predict if you will meet your budget. If you are projected to exceed your budget, you can take corrective action before the end of the month. More details on how our projection is calculated are below.
Note if you are new to Aquicore, you will need at least 5 weeks of historical daily consumption and weather for our month-end projection to activate.
The table below outlines your charges, temperature, and energy notes captured within the current month. This can help with variance budget reporting by shedding light on hard-to-pinpoint variances.
If you do not have your budget set up click here.
How Our Month-End Projections Are Calculated
Our month-end projections use increasingly more accurate approaches as more data becomes available in the Aquicore platform.
Each day, we calculate a new projection by using up to one year of historical building consumption data to create a predictive model for daily building consumption and spending. The projection model factors in weather, working days, and non-working days (non-working days include weekends and federal holidays).
We then use a 7-day weather forecast to predict consumption or resort to NOAA-provided climate normals for days outside of the available forecasts.
The projection is recalculated every day and will continue to get more accurate as each day progresses in the given month.
Note that if you are first starting to use Aquicore and do not have a lot of historical daily data, it may take up to 5 weeks to make a projection.
About Weather Normalization
In the chart below, energy consumption is plotted against temperature. As you can see, there is often a relationship between weather and consumption which can be identified for a given asset. Linear regressions are a common approach to help predict the expected usage for a given temperature.
If you need to know more about weather normalization, additional resources can be found here.
Data Sources for this functionality:
Blended Rate: Utility company provided bills & tariffs
Daily Consumption: remotely monitored utility meters
Daily Weather Forecasts: https://darksky.net/about
The table below outlines your charges, temperature, and energy notes captured within the current month. This can help with variance budget reporting by shedding light on hard-to-pinpoint variances.
If you do not have your budget set up click here.