Condo Complex Projected to Save Over $40K With Tankless Water Heaters.
A 612-room condo complex in Ontario, Canada is projected to save $42,947.34 per year with commercial tankless water heaters.
A 612-room condo complex in Ontario, Canada is projected to save $42,947.34 per year with one simple change: swapping out their tank-type water heating system with tankless units.
There are three simple explanations behind these unbelievable savings that every multi-family property manager should be aware of.
Most property managers assume that large quantities of hot water are needed at the same time.
One of the most common questions we get on-field sounds something like this: “Will this tankless unit be able to deliver hot water when all 612 condos start their showers in the morning at the same time?”
We now have data that proves how hot water use in most commercial applications is sporadic. Using our vast database of commercial properties’ hot water consumption patterns, we found the following insights for properties similar to this condo complex:
- Hot water is consumed in low draws 71% of the time.
- Hot water is consumed in medium draws 23% of the time.
- Hot water is consumed in high draws only 6% of the time.
- Hot water is consumed in peak draws only 1% of the time.
Based on this analysis, we predicted that the condo complex will consume 40,000 gallons of hot water daily.
Clarifying this faulty assumption is important because properties tend to oversize their facilities, installing and operating water heating systems with more heating output than necessary. This results in higher upfront and operational costs.
There's a huge difference between thermal efficiency and operational efficiency when it comes to $ savings.
Most property managers compare energy efficiencies between two systems by comparing thermal efficiency. In reality, that paints a very incomplete picture. For this condo example, the Intellihot system and the competing tank-type system have thermal efficiencies of 94%. Here is what a thermal efficiency of 94% indicates for boilers:
For every dollar you spend on gas bills:
- 94 cents worth of heat is available for water heating at the unit after thermal efficiency losses.
- 33 cents worth of heat is wasted to recover a boiler’s purging and standby losses.
- Only the remaining 61 cents worth of heat is transferred to hot water at the fixtures.
For the above example, operational efficiency (also called conversion efficiency) for a boiler would be 61% even though thermal efficiency is 94%. Watch this video to further understand the difference.
Carbon emissions and gas bills go hand-in-hand.
Sustainability IS dollar savings. You don't need to compromise.
Even the most environmentally conscious property manager gets wary of sustainable built environment products. That’s understandable: greenwashing is real.
However, at its core, sustainability is about doing more with less. A truly sustainable product is better for the environment because it can do the same task by using lessers resources (natural gas/propane, in this case).
Lesser natural gas/propane combusted = lower gas bills + lower carbon emissions.
Sustainability is good for the planet. And your wallet too.