Hello, October! As many dive head first into chili, pumpkin spice, and Halloween decorating, October is also National Energy Awareness Month. In 1991, this month was designated to bring awareness to the importance of energy efficiency and sustainable energy. As homeowners we take extra precautions to reduce our energy use (kids, turn the lights off!), so as building owners/managers, we must also consider the financial and environmental impact of our energy consumption.
HVAC units are often the main cause of wasted energy. Why? There is a natural decline in efficiency as the system ages. Also, as seasons transition from a temperate fall to frigid winter, you will notice that your HVAC is working overtime to keep up. If your HVAC unit is damaged or at the end of its useful life, here are four reasons why you should upgrade today:
· Lower Your Operating and Maintenance Costs: The energy savings you will experience by replacing your outdated HVAC unit will ultimately pay for the new unit itself. Gone are the increasing energy costs and repair bills.
· Increase Air Quality and Comfort: To minimize the risk of COVID-19, installing new sensors and air filters will help prevent the airborne spread. Updating your system will also allow you to up your outside air intake while maintaining a consistent temperature throughout the building.
· You’re Already Renovating: If you're remodeling or adding on, add your HVAC to the list of retrofit projects. The average lifespan of most heating and cooling equipment is 15 years. If your system is less than 15 years old, the ductwork should still be evaluated to best serve the new space.
· Your System is Too Old: Review your HVAC maintenance records; an increasing number of service calls could mean the system is close to failing. Additionally, newer HVAC systems have more high-tech features like remote access and programmable thermostats which will greatly increase your control of the system.
If any of the above reasons hit close to home, it’s time to look at alternatives! It’s necessary to consider things like performance, location, efficiency, and cost when choosing your commercial HVAC unit. However, when it comes to cost, building owners have financing options.
Aside from the traditional methods of paying cash up front or taking out a loan to complete facility upgrades, consider if you are eligible to utilize Commercial Property Assessed Clean Energy (C-PACE) financing. C-PACE is a state-enabled program that allows building owners to finance building improvements through a special county tax assessment lasting up to 30 years. C-PACE offers long term, low fixed rate, non-recourse, potentially off-balance sheet financing with no upfront capital outlay for energy improvement projects, like HVAC upgrades.
Upgrading your HVAC system will save you time and money, and it will improve the indoor air quality and comfort for your occupants. Reach out to a professional today to qualify your project so you can cash in on C-PACE and lower your operation and maintenance costs before the winter weather hits!
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