RETROFITTING MECHANICAL ASSETS
According to Forbes, 40% of global carbon emissions come from the real estate sector. If logic prevails, as more buildings are upgraded, we should see a reduction in the Colorado carbon footprint. Some investors and operators say they cannot justify the costs associated with mechanical retrofits, which would make the building in line with the new Colorado building standards. What will happen to some of these antiquated buildings?
CONTINUATION OF RETROFITTING MECHANICAL ASSETS
Smart buildings are trending Some buildings will be left behind, and hopefully over time be repurposed. The extreme in terms of carbon reduction is the proposed creation of Neom in Saudi Arabia, a future smart city. Smart buildings are trending, but Saudi Prince claims that Neom will be a Smart city producing zero-carbon, zero cars, and miles of solar panels. First round of construction is $500 billion. This is an ambitious and prohibitively expensive project, and not yet proven, so for the rest of us, a simpler and more economical solution is to retrofit existing buildings.
Decrease in utility bills Retrofitting is the process of improving, upgrading, or renovating existing infrastructure, and adding new equipment or expanding capacities to meet the changing demands and technologies. In general, retrofitting requires capital investments upfront, but leads to a reduction in emissions, less strain on mechanical equipment, and decrease in utility bills.
Preventative maintenance to predictive Mechanical assets refer to HVAC systems, lighting systems and some other mechanical equipment found in buildings. Retrofitting is replacing or upgrading with more energy-efficient technologies. Building automation systems can also be installed to optimize energy consumption. BAS and BMS use sensors and controls to monitor and adjust the building’s energy use based on factors such as occupancy, weather conditions, and the time of day. This can ensure that energy is not wasted on empty rooms. BAS and BMS coupled with property technologies (Proptech) transforms building’s performance from preventative maintenance to predictive.
Solid return on investment In addition to reducing energy consumption and costs, retrofitting mechanical assets improves indoor air quality, increases occupant comfort, and can be a solid return on the investment. Contact your Haynes representative on how your building may benefit from a mechanical retrofit.