Ontario apartment buildings install SmartGates for voltage management
April 5, 2019 – Vancouver-based Legend Power Systems is supplying three of its SmartGate on-site voltage management systems for apartment buildings in London and Kitchener, Ont.
An unnamed investment company that owns the non-sub-metered multi-family residential buildings—which include two in London and one in Kitchener—purchased the systems for a total of $389,974. One of the London buildings comprises 458 units and consumes 3.3 million kWh per year, while the other has 283 units consuming 2.4 million kWh per year. The Kitchener building has 247 units consuming 1.7 million kWh per year.
The company’s portfolio includes more than 80 high-rise towers across Southern Ontario, with more than 8,900 units. Of these, more than 7,000 units have already been retrofitted for greater energy efficiency. Ontario’s government provides incentives for landlords to invest capital in energy-conserving technology, as they can then apply to increase rents.
“When a well-established multi-property business sees a strong financial case, we know our value proposition is resonating,” says Randy Buchamer, Legend’s CEO. “With an estimated total available market for SmartGate in North American multi-family rental buildings of US$750 million, we expect it to become a very productive vertical.”