We received comments from both our tenants and management staff. Thank you very much for a job well done!
Based on heating cost savings of 10%, the typical payback by installing Novitherm Heat Reflectors is from 1 – 5 years. By preventing heat loss through the exterior wall, improving heat circulation in your apartment building, and improving the efficiency of your water radiator, the room heats up quicker.
Average Heating Cost:
Based on an average 112 unit apartment building with an average heating cost of $45,318.51 per year (197,037m³ @ $0.23/m³)
Cost for product and installation of Novitherm Heat Reflectors:
$16,341.28 (installed by Novitherm Canada Inc.)
Calculated heating cost saving of 10% per year: $4,532
$4,532 saved per year = 3.7 year payback (27% ROI)
Greenhouse gases saved per year: 37.24 tonnes
A 10% savings on heating consumption (197,037m³) equals a reduction of 19,703 m³. At today’s gas rates, the value of savings at $ .23/m³ = $ 4,532 per year (27% ROI)
In this example, energy savings produce an increased building value of $74,299 www.towerwise.ca/calculators
Invest your energy Savings – Increase your building value
Use your savings from current lower gas rates to invest in the Novitherm™ energy saving initiative.
Based on an average 112 unit apartment building
Four years ago, the cost of gas @ $ .46 per m³ was $90,637
During 2011/12, the cost of gas @ $ .23 per m³ is $45,318
Difference (current savings)
Maintaining Optimum Revenue:
Novitherm Canada works with you to assist with the proper setting of your heating controls after the installation of heat reflectors. You can usually reduce your boiler water temperature by 10°F or more. To maintain optimum savings, it is essential for you to regularly re-commission the heating system.
Comfortable energy efficient buildings are more appealing to perspective tenants and will help to retain occupants longer than an uncomfortable building would. Increasing the appeal and value of your property makes your building worth more to a future tenant or buyer.
Energy efficiency upgrades are most cost effective when done in conjunction with other renovations.