Reserve Bank saves $60,000 a year through sharp interest in energy use

The Reserve Bank is saving at least $60,000 pa because of new energy efficiency solutions introduced at its Wellington office.

 

The Reserve Bank’s property manager, Chris Ward, said the majority of the Bank’s latest energy efficiency savings have been achieved with little to no capital investment.

 

“We have taken some reasonably simple and straight forward steps that have paid quite handsome dividends in terms of additional energy and financial savings.”

 

Mr Ward said the Bank has changed the set points on its cooling and heating systems and has focused much more on using fresh air as opposed to air conditioning.

 

“Allowing a greater margin of movement between the heating and cooling set points, two degrees as opposed to half a degree, meant the air conditioning and heating system wasn’t turning on as frequently to adjust the temperature.”

 

“If the temperature outside the bank is below 14 degrees, the chillers are locked down. At that temperature the outside air fraction has reduced from 100% at around 19°C to approximately 40%. This stops excessive heating loads and is much more energy efficient for the Bank,” Mr Ward said.

 

“Enhancing our energy efficiency is an ongoing process and these latest savings come as a result of new initiatives we have put in place recently.

 

“We’re constantly making new developments and finding smarter ways of using energy more efficiently as part of our ongoing drive to make savings.”

 

The Reserve Bank has implemented energy efficiency measures since the early 1990s.

 

It commissioned an energy audit in 2008 using Energy Solutions Limited consultant, Robert Bishop, who introduced further efficiency solutions that led to these latest savings.

 

The executive officer, of the Energy Management Association of New Zealand (EMANZ), Ewan Gebbie, says there are hundreds of millions of dollars of savings to be made in the commercial building sector from energy efficiency improvements.

 

These savings will accrue to both landlords and tenants and also help reduce NZ’s greenhouse gas emissions, he said.

 

“Significantly, these measures can also make buildings more comfortable for the occupants. For example, the Reserve Bank has had a reduction in complaints about the air conditioning since this project began.”

 

“An important factor in all of this is the potential air quality improvements in buildings to reduce health issues and improve conditions for staff,” Mr Gebbie said.

 

One of EMANZ’s goals is to make commercial landlords more aware of the benefits to them of improved energy use.

 

Energy efficient buildings are becoming more attractive to tenants, which means landlords can command rent premiums irrespective of economic conditions.

 

The cost benefit analysis of energy efficiency in commercial buildings shows enormous scope for improvement.

 

“It’s been an area that has been largely marginalised in the past. EMANZ is keen to work with government and other interested parties to focus on making some big improvements in this area,” Mr Gebbie said.

 

Energy efficiency developments at the Reserve Bank are included in the current floor refurbishments due for completion by Christmas.