Adding Value to Your Building

It’s no longer a secret that utility costs are rising steadily in Toronto. Let’s say that your condo association can’t effectively manage this crippling trend – what are you going to do? Most importantly, what are some meaningful things that you can do now?

One of the best ways to cut costs for your condo is to reduce the amount of power you use – but how do you account for your own usage when you’re in a multi-unit building? Historically, there’s been one master meter for the entire building which monitors total utility usage. The improved approach is to introduce sub-metering (or “smart metering”) that gives this responsibility to individual family units by dividing the number of units in the building and then fairly distributing the cost based on individual consumption. In doing so, units that use less energy are rewarded because their utility bills are lower!

Sub-metering is just one of many approaches that condo corporations can take to lower the utility consumption in their building. Wyse Meter Solution from Newmarket, Ontario, explains that when an individual gets billed based on personal consumption, the building’s consumption levels can decrease as much as 60%! By sub-metering, you can reduce utility bills and benefit the environment!

Navigant Consulting in 2012 found that implementing a large-scale metering system is equivalent to taking a medium-sized gas-fired power plant out of Ontario’s fleet of generators, which roughly translates to about 383 megawatts of generating capacity!

But moving to sub-metering might be a big change for your condo. If you’re still on the fence about presenting this change to your strata, there are many much less expensive options to reduce your energy consumption, some of which you can find in your local department store. Consider installing low energy LED lights, low flow toilets, or smart thermostats that allow you to control your heating right on your mobile device – they’re all great options that help reduce your bills.

If you’re a homeowner, property manager, or building owner looking for ideas to cut energy costs, contact us today and we can set you up with quality service providers who will provide you with a quote within 48 hours!

Sources: http://www.wysemeter.com/contact_us

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What is Sub-Metering: Infographic | O•H•Metering

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