The Value-Added Benefits of Commercial Retrofit
There are approximately 10,000 commercial buildings in Ireland that need to be retrofitted to a higher energy efficiency standard. Just 4% of these have been completed thus far. With a variety of energy efficiency upgrades available, and grant funding from SEAI (Sustainable Energy Authority of Ireland), there is huge potential for businesses to not only save financially, but to positively impact other areas of the business.
The value added benefits of commercial energy upgrades:
Employees: Employees are your most valuable resource, accounting for almost 90% of your operational costs. Retrofitting your building with measures such as heating upgrades, ventilation, lighting and more, will help you create a healthy indoor environment that will increase employee health and wellbeing, increase productivity, decrease absenteeism and help you retain top talent. A 1% increase in productivity has major impacts on the bottom line, as well as overall competitiveness of the company.
101% Increase
In cognitive scores for workers in a green, well ventilated office.
6% Decrease
In staff performance when offices are too hot.
4% Decrease
In staff performance when offices are too cold.
Environment: Ireland’s climate action plan 2019 aims for decarbonisation by 2050, with ⅓ of all commercial buildings to be retrofitted to low energy standards by 2030. Heating and cooling emit the highest amount of carbon emissions, with the burning of fossil fuels such as coal, oil and gas contributing to the accumulation of greenhouse gases in the atmosphere, leading to increased heat on the earth's surface, and the global warming we now experience worldwide. Retrofitting will help Ireland eliminate fossil fuels with the use of renewable energy technologies such as solar PV, and air-to-water heat pumps, generation of our own electricity by solar power and reduced energy consumption with a fabric-first approach to buildings.
Competitiveness: Retrofitting your business differentiates you from competitors, promoting sustainability to your employees, and wider community. 73% of consumers are motivated to purchase from companies committed to making the world a better place, this includes fighting climate change, and workplace wellbeing for their employees.
Retaining good talent is another differentiating factor for companies, with 70% of said employees saying they won’t work for a business without a strong purpose (climate change) and 90% of employees who do work at companies with a strong sense of purpose say they’re more inspired, motivated and loyal.
“We upgraded the insulation, heating and ventilation in our offices, and now the employees experience a consistent temperature around the building, with fresh indoor air quality and year-round comfort. We have seen an increase in employees wellness, and decreased sickness, especially during the colder winter months”
Make a difference to your business in 2022
70% of businesses in Ireland report that corporate social responsibility is a priority for them, with community and environmental commitment ranking in seniority. With extensive support and grants available for businesses, now is the time to upgrade and reap the value added benefits of commercial retrofit. Check out our website to see how you can apply for 2022.