How a Green Building Will Save You Money This Summer
Going green is a concept that the whole world is talking about and trying to adopt. Several countries are setting targets to help in ending global warming. The US signed an agreement that it would reduce its emissions by 50-52% by 2030, compared to 2005 levels, and achieve net zero emissions, no later than 2050. Similarly, Canada adopted the net zero emissions accountability act, making Canada’s 2050 net zero target official.
Studies show that improving building efficiencies provides impactful ROI’s for businesses
Building Green Communities For a Greener Environment
We all want to breathe clean, fresh air. Looking at the current climate crisis, we all must play our part to help decarbonize the planet. By doing this, we ensure the world will be liveable for future generations. If you are a building owner or manager of an existing building, read on to find out how you can transform your current property into a green building this summer while saving the environment and money.
What is a Green Building?
A green building is part of a unified system that has positive or more eco-friendly impacts on the natural environment due to its construction, design, and/or functionality. A green building also eliminates or reduces the harmful ecological effects on the surrounding climate and people living within it. Moreover, it also minimizes energy and water consumption, as well as reduces waste.
What is a Green Building Rating Tool/Certification?
Retrofitting existing buildings to make them green is just as, if not more, important than developing green buildings from scratch. Going the extra mile and getting a Green building certification improves the CAP Rate of your building and also increases your renting potential.
According to this study, on average, certified buildings have a higher occupancy rate than non-certified buildings: + 4% for LEED-certified buildings, or + 9.5% for office buildings. Energy-Star certified (American energy efficiency label) buildings are also better rented than those without certification.
The Green Building Rating Tools or Certifications help assess and recognize buildings that fulfill the standards set up by Green Building Councils globally. View the list of Green building certificates administered by the World Green Building Council. In Canada? You can click here to learn about the Canadian Green Building standards and other Certification Programs. In the United States? Learn about the U.S. Green Building Council here.
Retrofitting Your Existing Building to Turn it Into a Green Building
A great way to help save the natural environment is to find more sustainable ways for buildings to function. The more early on you can incorporate these changes, the better. However, it's never too late to get started. “Around 97% of green builders report using energy efficiency practices on more than 61% of their projects”.
According to Canada Green Building Council (CAGBC), retrofitting all large buildings can slash energy use by more than 70% and Canada can decarbonize existing large buildings by 2050 if we start today.
Ways that can help retrofit existing buildings:
There are many ways to retrofit your existing building to make it green. The following are just a few basic steps that can help you cool your buildings this summer.
Use of low to zero-carbon technologies for producing energy, water, and other resources
Use of renewable energy, such as solar panels and windmills
Minimizing pollution and waste, and reusing and recycling wherever possible
Using large glass windows will allow more sunlight inside the buildings
Opening up windows during the daytime in the summer will allow natural ventilation and increase airflow
Using energy-saving electrical sockets throughout your building
Replacement of dark-colored roofs and exterior walls with lighter colors (dark surfaces absorb heat, therefore requiring more energy to cool)
Replacing an air conditioner and gas furnace with a Heat Pump system
How a Green Building Will Save You Money
There is a myth that green buildings cost more than those running on traditional HVAC systems. Learn about the many potential savings of green buildings and heat pumps below, and read our last blog stating the other benefits of Heat Pump Technology here.
Save on your Energy Bills
Installing heat pumps in your building can significantly help lower your energy bills. Heat Pumps work differently than other traditional Heating and Cooling systems as they do not generate energy and instead absorb it through other sources and release it indoors. Heat Pumps are three to four times more energy efficient than other HVAC systems and are the most cost-effective method of heating and cooling.
Lower Maintenance Costs
Heat Pumps not only reduce the temperature in your units during the summer months but also function as heaters for your units during winter. One piece of equipment with a dual function helping you save on maintenance costs year over year, instead of having to pay for and maintain separate heating and cooling systems. As a matter of fact, heat pumps are low maintenance by nature.
Reduce your Carbon Tax
Switching from fossil fuels to other systems and lowering the Greenhouse Gas emissions from buildings is a great way to create a greener future. This switch will help reduce your potential carbon taxes on energy bills for years to come. Imagine the amount of money you can save by shifting to electric heat pump systems!
Get rebates from the Government
Governments in different countries are working toward helping people and companies invest in Heat Pumps to achieve a zero-carbon emission goal by 2050.
Incentives or rebates are typically offered at government, federal, or state levels and differ from country to country.
According to this article, Vancouver Homeowners can save up to $17,000 on Heat Pumps with these rebates. Refer to your local government website to learn about what incentives are available in your region.
In the United States? Learn about state-by-state incentives by clicking this link.
The more efficient your Heat Pump is the lower your building's energy consumption will be, resulting in great savings on your energy bills. Find out which of our Heat Pumps is best suited for your building(s) by contacting our team of experts today.
Stay tuned for upcoming blogs for more on incentives.
REFERENCES
NDC Registry. (n.d.). Retrieved from https://unfccc.int/NDCREG
12 43rd parliament, 2nd session September 23, 2020, to August 15, 2021. C. (n.d.). Retrieved July 28, 2022, from https://www.parl.ca/LegisInfo/en/bill/43-2/C-12
Gonçalves, A. (2020, February 10). Green buildings are more ecological and cost-effective. Youmatter. Retrieved July 28, 2022, from https://youmatter.world/en/green-buildings-are-more-ecological-and-cost-effective/
https://www.worldgbc.org/member-directory/us-green-building-council
Kuadli, J. (2022, April 13). 19 green building statistics [2022]. SeedScientific. Retrieved July 28, 2022, from https://seedscientific.com/green-building-statistics/#:~:text=In%202019%2C%20the%20global%20non,at%20a%20CAGR%20of%209.3%25.
Decarbonizing Canada's large buildings. Canada Green Building Council (CAGBC). (2022, July 20). Retrieved July 28, 2022, from https://www.cagbc.org/news-resources/research-and-reports/decarbonizing-canadas-large-buildings/
604 Now. (2022, February 2). Vancouver homeowners can save up to $17,000 on heat pumps with these rebates. 604 Now. Retrieved July 28, 2022, from https://604now.com/vancouver-heat-pumps-rebate/
Database of state incentives for renewables & efficiency®. DSIRE. (2022, April 28). Retrieved July 28, 2022, from https://www.dsireusa.org/
