What Is Measurement and Verification of Energy Equipment?
Measurement and verification (M&V) is the process for quantifying the savings your energy equipment will achieve. It generally takes place early on in projects, to make sure that owners know what they’re signing up for. M&V procedures include documenting and confirming that the estimated money savings are realized by the new equipment or the operational changes that have been implemented. M&V methods will vary depending on the type of equipment or adjustments that have been made. Some common M&V strategies include: one-time end use measurements, engineering calculations, sub-metering, utility bill analyses, and computer simulation, to name a few. While all of these approaches are different, they have one thing in common—they all ensure the savings performance of the newly installed project.
It’s true that M&V procedures can save you money, but its important to note that your energy costs will always vary depending on factors like weather, tenant activity, and scheduling issues.
How Can It Save You Money?
The measurement and verification of your energy equipment has the potential to save you a ton on energy costs, especially when you look at long-term expenses. By measuring and verifying your energy saving, you’ll be able to conserve more energy, and effectively cut back on energy costs.
Your organization or partner should choose an M&V method that you both feel can accurately verify all energy saving measures in order to get the best results possible. It can be hard to concretely identify true energy savings, since most of them can’t be measured directly—it must be assessed by comparing your energy use before and after the new equipment is installed, or changes are made. Making this comparison effectively can be a challenge, since factors unrelated to your project have the potential to interfere with your site’s energy consumption. In the end, measured energy savings is only valuable and of use if the final value is larger than the possible variants.
How Much Does M&V Cost?
The appropriate level of M&V for each project varies, and so does the price. The typical range for M&V costs is usually between 3-10% of your overall project’s value. If your project requires more vigorous M&V services that entails greater details or the development of more sophisticated savings models, the price may be higher.
Turn to PL Energy Services for M&V
PL Energy Services is one of the leading energy management firms in the GTA. We’ve helped a wide array of Ontario properties reach their potential when it comes to energy efficiency, so let us help you do the same. From ASHRAE analyses, HVAC design, project management, and energy modelling in Toronto, we do it all. Contact us today to learn more about our services and how we can help you work towards your energy saving goals in Toronto.