Utilities can account for 40% to 60% of a condo corporation’s annual operating budget.
The cost of utilities is expected to continue increasing along with overall use. This is the result of an aging infrastructure and increased demands of more appliances and in-suite conveniences.
There are ways for a condo corporation to help keep these costs down.
Sub metering of electricity and water can yield significant savings. This can reduce monthly condo fees. Utility use can also be reduced by making those who use more utilities pay for that use.
Hydro (electricity) can be further reduced by considering various upgrades of which energy-efficient lighting and ballasts, combined with motion sensor lighting, are likely to yield the greatest savings.
Implementing better measurement technology can also help reduce water bills. One such technology is the “H2minusO” cost-saving water technology. This technology reduces the cost of water by managing the amount of air measured as water by meters.
Many engineering firms can conduct an energy audit to help identify the most practical energy saving initiatives for your condo building.