How to attract funding and optimize costs for implementing building management systems?

Smart building
Building Management Systems (BMS) are an important tool that helps companies optimize and manage various aspects of building engineering systems such as heating, ventilation, air conditioning, lighting and security systems. BMS building management enables centralized control and monitoring of these system components, providing real-time data and analytics essential to improving energy efficiency, energy efficiency and reducing operating costs.

Thanks to the implementation of BMS, companies can significantly reduce energy consumption by optimizing the operation of systems and preventing energy losses. This reduces the company's costs and contributes to environmental sustainability by reducing carbon dioxide emissions. By improving the operational efficiency of buildings, BMS also increases employee comfort and productivity by providing optimal working conditions.

Challenges of implementing BMS systems

Despite the benefits of BMS technology, one of the biggest challenges facing companies is the high cost of implementing and installing this system. Initial costs include the purchase of the system and significant expenses for installation, configuration and maintenance. In addition to this, training of employees is also required so that they can effectively use the new system.

This significant upfront investment can be a barrier, especially for smaller companies or those operating in industries with lower profit margins. In addition, additional expenses are often required to integrate BMS technologies with existing building systems and make necessary upgrades. Because of these factors, companies may hesitate to implement BMS building management, despite its potential to improve efficiency and sustainability.

How to identify and use available resources?

Effective management of resources in companies is essential for sustainable development and competitiveness in the market. While implementing BMS building management can significantly improve resource utilization and reduce costs, there are several steps companies can take to optimize resource utilization even without this technology.

1. Resource assessment and analysis

The first step towards efficient use of resources is the assessment of existing resources. This includes analyzing energy consumption, evaluating equipment and systems, and studying employee behavior.

2. Integration of modern technologies

Even without a full-fledged BMS system, various technologies can be used to optimize the use of resources:

  • Energy monitoring systems: Using sensors and smart meters, energy consumption can be monitored in real time.
  • Automation solutions: Simple automation solutions, such as lighting and heating control with timers or sensors, can significantly reduce energy consumption.
  • Equipment modernization: Replacing older, inefficient equipment with modern and energy-efficient equipment can significantly reduce costs.

3. Energy audit

Energy audit is a building survey and evaluation process, during which the energy flow in the system is studied, as well as energy saving opportunities are found and evaluated. After evaluation, an energy audit report will be issued to the specific building - a document that calculates how many MWh of heat the building would save after warming, what savings each of the energy efficiency measures will give. There are several companies in Latvia that deal with energy audits to prepare such a report for companies.

Although implementing a BMS requires an initial investment, it can significantly improve energy efficiency and reduce long-term costs. BMS technology provides real-time control over building systems, allowing to optimize energy consumption and improving building performance. Funding for BMS can come from a variety of sources, including government support programs, loans, and private investors willing to invest in smart buildings.

How to attract funding for BMS implementation?

Companies have several financing options available to promote energy efficiency and sustainable investments. One such source is Altum's "Energy efficiency loan with capital discount". Under this program, companies can receive up to 30% of the project costs, excluding VAT, for repayment of the principal amount of the loan. The maximum capital discount is 1.5 million. EUR for a group of related persons. Applications for the 7th selection round are accepted from June 11, 2024, at 12.00 until July 9 at 12.00. Available support is determined at the time of application and can be received after the project is completed and the goals are met.

Supported areas: increasing energy efficiency in buildings (construction work in non-residential buildings, renovation or creation of engineering systems, installation of energy-efficient lighting, reconstruction of heating networks and cooling systems), increasing energy efficiency in equipment (purchase and installation of new, more energy-efficient equipment, recovery of secondary energy resources from technological processes), renewable energy technology implementation (purchase and installation of solar or wind energy technologies, purchase and installation of biogas and biofuel producing technologies, purchase of energy accumulation or storage equipment) and purchase of electric cars.

In addition to the Altum program, companies can also attract the EU Modernization Fund. The Modernization Fund mainly supports investments in six priority areas: production and use of energy from renewable sources, heating from renewable sources, improvement of energy efficiency by reducing total energy consumption, energy storage and modernization of networks, support for households with land income and a just transition from carbon dependent regions.

Echoo Group – assistant in BMS implementation

Echoo Group is an experienced company in building management systems (BMS) implementation and optimization. We offer a full range of solutions, from initial consultation and planning to system installation and employee training. Our specialists perform a detailed analysis of the company's existing engineering systems and identify areas where improvements are needed. Echoo Group also ensures that BMS systems are integrated with existing building technologies to maximize energy efficiency and reduce costs. In addition, we offer maintenance and services that ensure the continuous operation and long-term efficiency of the system.
Although implementing a BMS requires an initial investment, building management can significantly improve energy efficiency and reduce long-term operating costs. To attract the necessary financing and optimize costs, companies can apply for various state support programs, such as Altum. By carefully preparing project applications and cooperating with experienced partners such as Echoo Group, companies can successfully implement BMS systems that will contribute to sustainable development and competitiveness in the market.
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