As property-specific energy-saving technologies evolve, energy renovations are more profitable than ever. Planning your energy renovation well ahead can save you a lot of money and stress.
According to a study commissioned by Finland’s Property Managers’ Association, about 66% of Finnish housing companies start planning plumbing renovations when the pipes are already leaking. To make matters worse, it takes an average of 14 months from the beginning of the design to the start of the implementation phase. Thus, it takes more than a year on average from the detection of a pipe leak before proper repairs actually take place. In addition to expensive repairs, the benefits of hastily conducted renovations are mainly focused on minimizing damage, while a proactive and well-prepared housing company has the opportunity to carry out the renovation cost-effectively and with minimal effort.
Risks grow while time passes
Postponing expensive renovations may sound tempting if “everything works just fine”, but at the same time the risk of damage and rising costs increase significantly. Sometimes risk-taking is worthwhile, but most renovations should be done proactively.
Energy renovations share many of the same principles with plumbing repairs: costly-sounding renovation projects are postponed due to the fear of high costs or disturbances during renovations, for example. However, it is equally worthwhile to renovate the heating system on time and in a planned manner. It’s undeniably too late, when the property’s old substation breaks down in the middle of the coldest winter.
As Oy Leikkipolku, located in Kuusankoski, decided to install a hybrid heating system in its property while other HVAC systems were thoroughly renovated. Even the exhaust fans on the roof were the original ones from 1970’s! The renovation went as planned: annual savings are around 8 000€ per year, living comfort is improved and the system works smoothly. The people of Leikkipolku can now live without the stress of rising heating costs or old equipments malfunctioning.
Energy renovation is a profitable investment
As property-specific energy-saving technologies evolve, energy renovations are more profitable than ever. Public funds are also being directed to support private properties’ energy renovations. A housing company that postpones or refuses to renovate their energy systems are subject to multiple risks. First of all, they miss out on the potential profits gained through the savings provided by the new system. On the other hand, the risk for equipment malfunctions grows as time goes on.
With proper planning, a little effort and the help of experts, a housing company can save tens of thousands of euros per year. The money saved can be further invested in other renovation projects that increase the property’s value even more.
A smart renovator also saves on emissions
In addition to significant cost savings, reduced stress and improved living comfort, carbon footpring of housing is reduced drastically. The largest single source of emissions for Finns is housing emissions, and more specifically the heating of residential buildings. With the help of a hybrid heating system that utilizes renewable energy sources, housing emissions drop by thousands of kilos of carbon dioxide per year.
In the first year of HybridHEAT’s operation, the aforementioned As Oy Leikkipolku saved a total of 230 MWh of energy, which corresponds to approximately 38,000 kilos of carbon dioxide emissions. The same amount of emissions are generated by an average car while driving about 300,000 kilometers.
