*This post was originally published on October 25th, 2021 These are challenging times for building...
Across the country, the price of municipally-provided steam has been increasing and is now a significant financial challenge for property managers and building owners. New York City provider, Con Edison, recently announced a 39% increase in steam prices set to roll out over the next three years. This has intensified the need to control heating costs and building owners and managers are looking for solutions.
We recently held a live event addressing the issue and offering some easy, low-cost tips for reducing the impact on your budget. Here's a summary of what you'll get in more detail in the recording of the event above:
Embracing Technology for Efficiency
A key strategy highlighted in the discussion is the adoption of smart control systems in buildings that rely on city steam. These systems can reduce energy consumption by 10% to 30%, with the average savings hovering around 22%. In the face of steep price increases, the implementation of these types of controls is not just beneficial but essential for energy efficiency and cost management.
Attention to Detail: Simple Steps, Significant Savings
It's emphasized that while technology plays a crucial role, attention to seemingly minor details can also lead to substantial energy savings. Simple measures like ensuring windows are fully closed, installing covers for window AC units, and checking radiator valves can collectively lead to significant energy conservation. Particularly in city steam buildings, these small actions can contribute to offsetting the hefty steam price increases.
The Bigger Picture: Beyond Immediate Fixes
The discussion also touched upon the broader implications of these cost increases. For smaller buildings, transitioning away from city steam to alternatives like boilers or heat pumps might be a viable long-term solution. While this requires an initial investment, the payoff period could be favorable given the steep trajectory of city steam pricing.
Conclusion: Proactive Measures Are Key
The presentation underscores the importance of proactive measures in managing the rising costs of city steam. From embracing smart technology to attending to routine maintenance and considering long-term alternatives, there are multiple avenues to mitigate the financial impact of these increases. As city steam prices continue to climb, these strategies become not just options but necessities for efficient and cost-effective building management.
