Five Ways to Cut Energy Costs in High-Rise Buildings

High energy costs can significantly affect the financial health of any high-rise, making it crucial for community associations to manage these expenses effectively. For condominium buildings that allocate 40 percent of their budget to common-area energy, even a minor increase in utility prices can severely impact their finances. A 10 percent rise, for instance, could push energy expenses to 44 percent of the total budget. Although this seems daunting, implementing energy-saving strategies can help high-rises reduce costs and better manage their annual budgets.

Imagine being able to cut energy usage in shared spaces by 20, 30, or even 40 percent. At first glance, this might appear unachievable, but similar results are being achieved by many high-rise buildings every day. Not only can these buildings save significantly on energy costs, but they can do so while maintaining—or even enhancing—the quality of life for residents.

Now Is the Time for High-Rises to Embrace Energy Management

A number of factors, such as hotter summers and increasing electricity rates, make it essential for high-rise and condominium buildings to consider upgrading their systems and equipment to lower energy costs. The process should always begin with establishing a comprehensive energy action plan. By doing so, different retrofits and upgrades can be synchronized for optimal performance and savings.

Below are five key areas to focus on when developing an energy action plan for your building:

1. Switch to LED Lighting in Common Areas

A significant energy-saving measure is transitioning from incandescent and fluorescent lights to LED lighting in common areas like garages, hallways, lobbies, and exteriors. This switch can lead to electricity savings of 10 to 20 percent. For instance, a high-rise in Tampa, Florida, completed a lighting upgrade that saves approximately 441,924 kilowatt-hours and $48,600 annually, earning recognition for their efforts.

2. Optimize Air Conditioning Efficiency

Improving your building’s air conditioning system can reduce electricity use by 5 to 10 percent, potentially saving thousands of dollars each year. This improvement can have a payback period of one to three years, making it a feasible option for immediate energy savings.

3. Utilize Temperature Setback Thermostats

Implementing programmable thermostats allows for energy conservation by adjusting heating and cooling according to usage patterns. For example, if a meeting room is unused overnight, the thermostat can be set to consume less energy, significantly impacting overall costs. The programmability ensures that settings are adjusted automatically, easing the burden on building managers.

4. Improve Cold Water Booster Pumps

Installing control devices on water pumps enables them to operate at lower speeds without compromising water pressure. This adjustment can save between one and five percent on electricity costs and typically offers a payback within five years. A Toronto high-rise that optimized its water pumps anticipates saving nearly $38,000 annually.

5. Use Cooling Tower Fan Controls

Cooling tower fans with variable frequency drives often operate more than necessary. Reducing their speed or usage can maintain preferred temperature levels while cutting energy consumption by up to 20 percent.

Deciding which energy-saving programs best suit a specific building and estimating the potential savings can be complex. Partnering with a professional property management company skilled in energy management can simplify this task, ensuring effective implementation and maximum savings.