6 Reasons You Need HVAC Asset Management Right Now

Keeping tabs on your HVAC assets can be a real pain. With different systems, manufacturers, install dates, and repair priorities, it’s a lot of data to track. If you manage a large portfolio of facilities, this challenge gets amplified with every acquisition or sell-off of property. But not having the data, or a plan to manage it, creates real risk for an organization as mechanical systems are one of the most expensive facility assets and often the one with the biggest carbon footprint. Exactly what kind of risk are you inviting if you don’t have an HVAC asset management plan?

Here's a quick look with a deeper dive below the image.

1. Deferred Liability
   
   It’s easy to kick the can—or sometimes a rooftop unit—if it’s not working properly. But the more cans you kick, the bigger the pile is to clean up. Being in the dark about the age and condition of your mechanical systems is a surefire way to a “wait until it breaks” management style, but let’s face it—emergency repairs are expensive and so is the energy to power inefficient equipment.
   
   
2. Code Compliance
   
   There are both State and Federal mandates around refrigerants that can have financial penalties for noncompliance. Even if you’re aware of what these are for all of the buildings in your portfolio, you may not be so aware of which buildings or systems are behind code and in need of an upgrade.
   
   
3. Uncomfortable Environment
   
   Many workers have returned to the office—some reluctantly—so having a comfortable working environment is on a lot of people’s minds. You may not be thinking about which buildings have older, inefficient units, but the people in those buildings who are running space heaters at their desks sure are. 
   
   
4. Climate Inaction
   
   Climate impact disclosure requirements are upon us and they’re very real, regardless of your personal opinions about the causes of climate change. Initially, publicly-traded companies will feel the crunch of having to understand their energy sources, usage, and efficiency but, increasingly, even private corporations are committing to ESG efforts.
   
   
5. Indefensible Budgeting
   
   With the high cost of emergency repairs eating away at your budget, you may find it’s harder to get future allocations that meet your day-to-day needs. Does that long-planned replacement fall by the wayside too when funds are low? Or what about the new Sustainability Director’s ask of improving energy efficiency in your buildings?
   
   
6. Overspending on Inefficiency
   
   It’s admittedly expensive to heat and cool a building, especially in extreme clients like Phoenix or Fargo. It’s even more so when you’re running units late in their life cycle, long past peak efficiency.
   

Fortunately, an HVAC Consultant and Program Manager can get you on top of your inventory and ahead of the game in terms of budgeting, sustainability, and being prepared for future needs. A firm like Mantis can help you:

1. Know when your units and systems are approaching their engineered life expectancy, so they’re not run-to-fail
   
   
2. Understand how big your deferred liability is
   
   
3. Provide clarity to HVAC capital project priorities, knowing that your budget money is hard-fought for each year
   
   
4. Build a CapEx and OpEx plan that makes the most of your available budget
   
   
5. Understand and act on your options to
    
   1. Align your capital decisions with your organization’s sustainability goals
   2. Consider high-efficiency upgrades versus like-for-like replacements
   3. Navigate the low supply/long-lead time environment that is the current marketplace

If you’re ready to build your HVAC Asset Management Plan or put one into action, contact us right now. We’ll start by listening and getting familiar with you and your goals before we work with you to develop the plan that’s right for your business.