Traditional building automation systems have been both costly and complex for the majority of commercial building owners and property managers, accounting for the fact that less than 15% of buildings have a BAS. Misconceptions about cost often prevent the adoption of smart and sustainable buildings.
When budgeting for a building automation system, it's important to consider both the capital expense (CapEx) or Total Cost of Acquisition (TCA) - the initial cost for hardware, software and installation/services - as well as the Total Cost of Ownership (TCO), which is the ongoing cost to use, upgrade and operate and maintain (O+M) the system.
Newer technologies, like IoT sensors, wireless controls, and cloud computing, are helping lower the cost of building automation systems and making them more affordable and accessible to the majority of buildings that lack smart technology. Still, we know the allocating the upfront capital budget can be a challenge. Luckily, there are a variety of incentive programs on both federal and state levels, plus those from utilities and energy program partners, to make it easier on your wallet to go green.
In this post, we focus on TCA and related incentives that you might be able to leverage to lower your costs to install a smart building automation system. Here, we give you the low-down.
Could your office building be described as… average? Maybe it doesn’t have a fountain in the lobby, or a view of the ocean – but you have four solid walls, a non-leaking roof, and only a few drafty cubicles. Have you ever tried to make your building work with an HVAC hack? Maybe you even taped a piece of cardboard over the vent to manage the airflow. That would be pretty clever of you, MacGyver.
So, if your office building is around 10-20 years old, has some wear and tear, but is generally in good shape, you probably have a Class B building. This is good news. Investors tend to target these buildings since, with a few upgrades, they can easily become Class B+ and compete readily with Class A properties. One of those upgrades is making your Class B smart – and it’s probably easier than you think.
Firstsource Solutions Ltd. (FSL) is a leading outsourcing partner for the world’s leading brands and is a company known for delivering excellence in customer experience. As their employees are their key strength, the company aims to provide a world class working environment that keeps their employees comfortable and productive. However, a year ago, the Facility Management team at FSL’s Paradigm office in Malad, Mumbai often received complaints of employees feeling too hot or too cold and the temperature differences in many parts of the building was compromising employee comfort and productivity.
Daikin & 75F Share Story of Accelerated Innovation via Corporate-Startup Partnership at Twin Cities Startup Week
Daikin is the largest global HVAC equipment manufacturer. Daikin Applied Americas, headquartered in Plymouth, MN, is taking creative measures to accelerate innovation and growth for the brand in the U.S. One key step is partnering with MN-based 75F to leverage the company's cloud-based building automation solutions, as the companies shared in a Twin Cities Startup Week (#TCSW18 ) panel on Friday.
Vacancies hurt. They cut into operating costs to maintain. Meanwhile, you're spending on market listings to attract prospective tenants – all without a lease revenue stream. According to JLL Research's U.S. Office Outlook, total vacancy increased for the third consecutive quarter in almost all asset classes.
To save money, cost-conscious tenants are are looking toward older buildings that have been remodeled with tenant improvements in mind. It’s no wonder, then, that renovations to older buildings are on the rise. New generations of tenants prefer modern workspaces with minimal costs, with an emphasis on sustainability and cutting edge technology.