In 2014, The Rocky Mountain Institute, an authority on energy efficiency, developed a Deep Retrofit Valuation Guide that broke down the evaluation criteria for investing in retrofits into 9 elements. We took a look at how well COOLNOMIX® stacks up.
1. Retrofit development costs.
This element is the balance of initial capital required against the future cost savings expected. COOLNOMIX® is a low cost product that requires very little capital for organizations to start saving and is easily scalable. The future cost savings for cooling systems with COOLNOMIX® has been shown to be an average of 30%, which is the highest among similar retrofit products.
2. Non-energy property operating costs.
This element is about how the retrofit product can improve property with regard to maintenance or insurance. By reducing the overall compressor runtime with efficiency technology, COOLNOMIX® decreases damaging wear and tear on cooling systems, which reduces irregular maintenance. For refrigeration systems, the device prevents ice build-up on the evaporator coil. This prevents possible damage to the equipment or unplanned service calls. The COOLNOMIX® device itself requires no maintenance and effortlessly saves your organization energy for years.
3. Retrofit risk mitigation.
Whenever a new retrofit product is added, there can be an increased risk since there are more variables can to watch. For example, COOLNOMIX® is low cost, has no moving parts, and lasts for decades. Already a relatively low-risk product, right? Risk mitigation is so important to energy efficiency and retrofit buyers that CoolGreenPower offers a 3 year product warranty. That duration of coverage means that the majority of devices will have likely already paid for themselves in savings before the warranty runs out. Lower the product risk and buyers will feel more secure in their savings.
4. Health costs & 5. Employee engagement
This element focuses on the productivity effect that the retrofit product may have on the space and employees. COOLNOMIX® has dual sensors and software that reduces temperature fluctuations resulting in space that is more comfortable. With one less thing to think about, employees can focus to doing their best work in a comfortable space.
6. Marketing costs & 7. Sales
From a marketing perspective, investing in retrofits can provide content to drive a brand message of sustainability. COOLNOMIX® has been recognized as a commercially ready product by the Massachusetts Clean Energy Center and has been developing a reputation as an energy efficient green product around the world. Brands and companies that care about their carbon impact are more likely to generate higher sales volume with their sustainable approach as consumers become increasingly environmentally conscious.
8. Property-derived revenues.
This element relates to subleasing or selling retrofitted spaces to generate revenue. While COOLNOMIX® doesn’t generate revenue, by lowering building operating costs, a dollar saved is a dollar earned.
9. Enterprise risk management.
The last component suggests that performance should be measured in part by the health and productivity of individual occupants instead of just by space flexibility. In essence, happier occupants lead to lower enterprise risk. With increased comfort and less temperature fluctuation the workplace is improved which in turn leads to happier and more productive employees.
By looking at these 9 elements, organizations can get a full picture of the full ROI value of retrofit products beyond a simple payback. With minimal investment, COOLNOMIX® increases comfort, reduces operating costs, fosters branding efforts, and allows your organization to reduce its total risk.