If you’re a building owner, you’re always looking for ways to save money and improve the value of your property. Energy efficient building retrofits can help you do both. These upgrades not only save money on energy bills, but they also reduce maintenance costs and increase the lifespan of fixtures and appliances. In this post, we’ll explore the benefits of energy efficient building retrofits for both apartment and industrial buildings.
Apartment Buildings
Energy efficient building retrofits in apartments can include installing energy-efficient lighting, sealing air leaks, upgrading insulation, installing low-flow showerheads and toilets, and upgrading windows and doors. These upgrades can significantly reduce energy bills for both the building owner and tenants. Studies have shown that energy-efficient retrofits in apartments can save up to 15% on energy costs. Additionally, energy-efficient buildings are more attractive to tenants, which can increase occupancy rates.
Industrial Buildings
Industrial buildings use a lot of energy, and energy-efficient building retrofits, in this case, can include upgrading lighting systems, improving HVAC systems, upgrading insulation, and installing automated temperature and lighting controls. These upgrades can reduce energy bills by up to 30%, which can significantly improve the bottom line for a building owner. Additionally, energy-efficient buildings are more attractive to tenants, which can increase occupancy rates and even lead to higher rents.
Save Money
One of the most significant benefits of energy-efficient building retrofits is the money-saving potential. Energy-efficient buildings use less energy, which means lower utility bills for building owners. While the upfront costs of these upgrades may seem high, the long-term savings can be significant. Additionally, there are often government and utility company incentives and rebates available to offset the cost of upgrades.
Lower Maintenance Costs
Energy-efficient building retrofits can also reduce maintenance costs. Energy-efficient lighting lasts longer than traditional lighting, which means fewer replacements. Upgraded insulation can prevent moisture and temperature fluctuations, which can reduce the need for HVAC maintenance. And, automated temperature and lighting controls can reduce wear and tear on these systems, reducing the need for repairs.
Longer Lasting Fixtures and New Appliances
Energy-efficient building retrofits can also increase the lifespan of fixtures and appliances. Upgraded lighting lasts longer and uses less energy, which means fewer replacements and less waste. Low-flow showerheads and toilets can reduce wear and tear on plumbing systems. And, upgraded HVAC systems can improve indoor air quality and reduce the risk of breakdowns.
Conclusion
Energy-efficient building retrofits offer many benefits for building owners, including cost savings on energy bills, reduced maintenance costs, and longer-lasting fixtures and appliances. Whether you own an apartment building or an industrial property, these upgrades can improve the value of your property and attract more tenants. Additionally, many government and utility company incentives are available to help offset the upfront costs of the upgrades. In conclusion, energy-efficient building retrofits are a smart investment that can pay off in both the short and long term.
How can SPM help?
At Spearhead Property Management Ltd., we partner with industry specialists in building automation, energy efficiency strategies and contractors. With routine inspections and planned capital investments, we can build you a custom strategy to become energy efficient and save money. With rebates and government incentives all going green, we help put some of that “green” into your build and into your wallet. (Yes, yes, we know. It was a lame dad joke. Sometimes you have to make someone happy. It happens.)
