When it comes to aging buildings, there are multiple reasons as to why you would want to modernize them. Modern building meet energy efficiency targets, attract higher value tenants and help in creating a sustainable environment.
Here we will take a look at some of the important reasons in detail.
- Energy Efficiency
Most old buildings built before 2010 have ancient HVACs and lighting systems that consume vast amounts of energy. 50% to 70% of energy consumption can be saved if these systems are replaced. So, there is a huge need to spread awareness about our energy consumption.
- Improving the thermal performance
As mentioned, HVAC systems constitute the largest percentage of energy consumption, most old buildings lose energy due to the interiors and the unconditioned exterior. Retrofitting older buildings to improve their thermal performance can help with a significant reduction in energy needed to heat or cool the building. (Using Insulation of walls, floors, windows, etc.)
- Lighting in old buildings
The main problem today is that people are not aware of the drastic technological improvements in lighting over the last decade. The initial investment to buy an incandescent bulb might be half the cost of an LED bulb, but they consume around seven times more electricity while in operation. This adds up over time, increasing your electricity bill and energy consumption making aging buildings are energy-guzzlers. The older generations incandescent lighting is an inefficient way of creating light as 90% of the electricity used is turned into heat and only 10% is turned into light.
- Older buildings are not sustainable
Buildings consume 35% of the total energy in the world, being responsible for over one-thirds of the carbon emission. If older buildings are not modernized, it is estimated that by 2050 the energy demand of buildings will be more than 60%, detrimental towards preventing global warming.
- Competitive Edge
Modern buildings tend to have more character and unusual characteristics, which can be particularly attractive in populated areas. An aging building stands out like a sore thumb. Modernizing your building will meet the tenants goals and not only increase the value of your property but also improve tenant retention and satisfaction.
- Reduce operational expenses and maintenance costs
Modern buildings have lower operational expense and usually run on a sophisticated energy management system. It helps you reduce the operations and maintenance expenses by implementing solutions such as detecting failed components in HVAC units before it causes a huge energy efficiency loss. These systems also prevent false alarms by providing real-time monitoring information. They provide a personalised system with the ability to set options that are not default and can be controlled entirely remotely.
- Energy Management Systems
With the advent of smart technology and the Internet of Things, automated control systems can be built to monitor and operate your building with precision and efficiency. By using this integrated building technology, an energy management system gives you critical knowledge about the buildings energy utilization at a granular level.
Minionlabs' Minion is a plug & play solution that collects the data and sends it to the cloud. The algorithms in the cloud then detect the appliances, and provide valuable insights which help the users save electricity costs.