Smart building owners are engaging us to deliver prop-tech strategy that de-risks investment by providing best-in-class engineering and modelling. This need, over time, evolved into a sophisticated software driven modelling tool that enables unlimited engineering and financial options for input, simulates operation with data science algorithms and binds the output with financial calculations. The tool generates 50-year forecasts, cash-flows BCR and NPV for analysis. From its output, our clients can understand the value of smart building projects and plan for rollout with confidence and reduced risk.
Reduce cap-ex – by appropriately sizing and evaluating the effectivenes of equipment to achieve objective functions
Improve the occupant experience – simulate building performance under different conditions and schedule optimal HVAC operation to improve indoor environment quality
Reduce op-ex – evaluate diffferent control strategies for energy efficiency in smart buildings, such as, managing peak demand, model predictive controls, wholesale market participation, amongst many others.
This data science driven approach increases flexibility, improves accuracy and significantly reduces report times compared to traditional spreadsheet based modelling.
Case study ROI
The modelling tool was commissioned in the i-Hub Data Clearing House (DCH6.1) project to evaluate the benefit of battery storage and HVAC control equipment across multiple sites. The complexity of engineering and financial model inputs required +100 000 calculations per electricity meter per annum – not possible to achieve with a traditional desktop/spreadsheet model.
The modelling tool demonstrated that HVAC controls without battery consistently returned the best benefit-cost ratio (BCR) across all sites in DCH 6.1, of above 2x BCR. By comparison, the modelled business case for battery storage systems for the purpose of energy arbitrage yielded a lower financial return, although this was improved by utilising batteries within the FCAS market on a wholesale spot pricing (WSP) contract. The scenario with larger solar PV, without batteries or controls on a standard retail energy contract, was also notable. The results indicated that where batteries were introduced into the mix of technologies, the BCR and NPV was significantly reduced.
The largest site with optimal solar PV sizing, using smart HVAC control logic on a WSP electricity contract, produced the best results:
15 year BCR – saving $1.19m with a spend of $0.47m.
The solution demonstrated the benefits of smart controls to optimise thermal comfort, reduce emissions and generate cost savings for owners and occupants of smart buildings.
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Discover a class-leading technology strategy that reduces costs and delivers maximum benefits from smart building projects. Plan to meet net-zero commitments and the transformation of the energy sector.
Contact a BE consultant to request a demo of our modelling tool or check out our case studies for practical examples of our work or check out our case studies for practical examples of our work.