Smart Building Services, Are They Worth It?

Thanks to smart building services, today’s structures are practically alive! Modern technology allows for automated processes for things that traditionally have been left dormant. While many older buildings have the capability to become smart buildings, owners and executives often overlook the perks of automation. Taking advantage of a smart building will not only make your day-to-day operations easier but can even lead to financial gain!

Smart Building Benefits

Smart building systems can improve building operations, sustainability, and decision-making. There are several ways these increasingly less expensive systems can help save money by optimizing operations and increasing efficiency.

Increased Productivity

Smart buildings make the occupants more productive. Air quality, physical comfort, security, sanitation, lighting, and even space availability can be delivered at an optimum level to enable employees to perform at their best.

Going Green

Reducing energy consumption is a great way to become greener and help reduce climate change. Smart buildings take out the guesswork, allowing for better decision-making by knowing data on how your building is performing.

Accurate Utilities for Landlords

Invoice tenants accurately for their utility use. This increases tenant appeal with improved comfort and sustainability.

Operational Savings

Improved monitoring means fewer operationing costs associated with the maintenance of your equipment.  Smart buildings can identify underutilized resources and potential growth in unused spaces.

Data Protection

Another benefit is data protection, such as thermal sensors that measure data without using identifiable images of staff or the public.

What About Cost?

Advancements in sensor and controls technology enable cost-effective and quick-to-install products. The average cost of a comprehensive smart building system can range from $2.50 to $7.00 per square foot.

In most cases, savings will offset any upfront costs associated with smart building systems. Focusing on HVAC, lighting, and some electrical loads, it is reasonable to expect savings from 10% to 25% when implementing proactive energy management programs in a mid-sized building. In most cases, they can even provide a return on your investment!

Potential Savings

A combination of lower costs of entry and increased savings – and therefore favorable return on investment – makes implementing a smart building as tempting as ever. For a 75,000 square foot building with energy bills averaging $2.32 per square foot per year, potential savings are $15,000 to $50,000 a year.

MGM Resorts International acquired several hotels with various types of building automation systems, all of which saved hundreds of thousands of dollars with efficient energy systems.
“When you pay in excess of $1 million monthly for energy, even 5% savings is a huge amount of money,” said John Leslie, Manager of Energy and Building Automation at MGM Resorts.

Smart building systems can yield soft savings as well. More and more, efforts to reduce energy waste lead to tax breaks and/or incentives for companies. Investing now sets you and your business up to reap any future benefits!

Ready to make the leap into the world of smart building automation? Contact us today and learn how Livewire can help tailor a unique system to fit your businesses’ needs.