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MEP Engineering Basics
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Don’t be confused by our NY-Engineers.Com is the top choice if you are looking for Full Service Heating and Air Conditioning (HVAC) Engineering Firm in Chicago Illinois. We are not only an HVAC Chicago but also a leading provider of Architectural Engineering Engineering services throughout Clearing West Chicago. Call 312 767.6877

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Lately A lot of people have been stopping by our site in search of HVAC Engineering in Chicago. This is due primarily due to the reputation we have develop in this types of projects. With that said, many builders from Golf to Romeoville, Illinois, do not know that New York Engineers is also the ideal choice for anyone searching for HVAC Chicago, Illinois.

The quest for power efficient buildings involves energy efficient HVAC system design. This may include systems for HVAC, lighting, architectural enclosure, domestic water heating, and vertical transportation. The loads for your HVAC systems can come primarily from 5 different places including lighting (cooling), the building envelope (cooling and heating), ventilation (cooling and heating), equipment for program use (cooling) and occupancy (cooling).
The ventilation load will be a purpose of either the mechanisms required in an attempt to introduce it in a space and control contaminant concentration or the amount of individuals which will occupy the area. In virtually all climates within the southwestern and eastern areas of the US, to reduce outside air-flow can save energy whenever the outer air is either humid and warm or very cold.
Controlling the ventilation rate will be based on occupancy which is known as a type of demand control ventilation. It is a everyday sort of energy conservation strategy that is utilized for buildings with occasional or heavy occupancy. Having cooling and heating loads dropped as low as possible can be accomplished by making use of a very high performance building envelope, occupancy sensors, and high performance lighting that employs daylight response of lighting controls.

Chicago HVAC Engineering services vs HVAC Techs

When you have ever discussed the difference between a HVAC Technician vs HVAC Engineers, then keep reading:

HVAC engineers would be the individuals who run the installation of air-con systems both for commercial and residential buildings. They spend plenty of their day in offices doing more impressive range organization and planning of installations nevertheless they do also visit job sites every so often.

In comparison, HVAC technicians in Chicago have a tendency to do a lot of the hands-on work with repair and maintenance. A HVAC tech may work with or for an engineer to complete a number of the installation work, particularly for smaller jobs. Generally speaking HVAC technicians do far more travel and might spend a lot of time identifying leaks, changing filters, doing recharges or decommissioning old and outdated systems that use old refrigerants.

HVAC engineers may have a chance to make more decisions about systems that are used, and they will be the people who would offer advice about probably the most sensible refrigerants and which systems would work best with a much bigger building. In the industry, there exists some challenge between ‘the suits’ and ‘the ones which get their hands dirty’, but the two jobs do require a great familiarity with how air conditioner really works. Lately huge crowds have been visiting the NY Engineers site looking for things like HVAC Cleaning Chicago. Nevertheless, the focus of our firm is to become the to go to company for those searching for a HVAC Companies near Chicago and or any of our other services including Protection Engineering services. Furthermore anyone looking for additional information about our Heating & Air Conditioning (HVAC) Engineering Firm in Chicago Illinois visits at our blog…

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Financial Analysis: Your Next Mechanical Engineering Project

Construction Engineering Degree

Basics of Financial Analysis for Engineering Projects

Mechanical engineering decisions have a significant impact on the total cost of owning a building: they influence the cost of new constructions and renovations, as well as operation and maintenance expenses in existing facilities. The most challenging decisions are normally those that raise some costs while reducing others; for example, using LED fixtures instead of fluorescent tubes raises the upfront cost of the lighting system, but drastically reduces energy and maintenance expenses in the long run.

If you are involved in engineering design or consulting, financial analysis is one of the most powerful complementary skills you can master. Financial analysis grants engineers and firms some distinctive advantages over competitors who only focus on technical aspects:

  • Ability to “speak the same language” as business executives, bankers and investors.
  • Adding an extra dimension to engineering analysis: After proposing a technical solution, it can be complemented with an analysis of different purchasing options – upfront payment, financing the project with a loan, leasing equipment, etc.

The benefits offered by an engineering project are strongly determined by the performance characteristics of the proposed system, but the way in which the project is financed also plays an important role.

First Step in Mechanical Engineering Projects: Creating a Cash Flow Projection

A cash flow projection is the basis of financial analysis, and it answers the following questions:

  • What is the upfront cost of the project?
  • What are the net yearly savings?
  • Will a loan be used to cover the upfront cost? If so, what are the terms?
  • What is the service life of the project?

The approach is slightly different for new constructions and major renovations, compared with existing buildings.

  • In the case of new constructions and major renovations there is already a baseline cost to assume, which can’t be avoided. Therefore, any proposed project must be assessed compared to how much it raises or reduces the baseline cost.
  • The baseline cost has already been assumed in existing buildings. Therefore, the full project cost is considered in this scenario.

To illustrate this, assume a heat pump with a cost of $1500 is being considered as an alternative to a $900 resistance heater. In a new project the resistance heater represents a baseline cost, so the real upgrade cost is only the price difference of $600. On the other hand, in an existing building the cost of the resistance heater has already been assumed, and the upgrade must be assessed based on the full price of $1500.

In simple terms: you should consider the cost difference for installations that haven’t been built, and the full upgrade cost for existing installations before beginning your mechanical engineering project. This is the reason why energy efficiency and renewable energy measures offer a higher return per dollar spent in new projects.

For yearly savings and expenses, the approach is the same in both scenarios: they are compared with the expected baseline cost in new projects, and with the current operating cost in existing buildings.

Return on Investment (ROI)

The return on investment, or ROI, can also by defined best though a question: What percentage of the initial investment does the project yield each year?

ROI(%)= (Net Yearly Savings (USD/year))/(Initial Investment (USD)) x 100%

Return on Equity (ROE) – Alternate Analysis when Debt Financing is Involved

Assume the HVAC systems in the example above was purchased with $500,000 from the client’s capital and with a $1,000,000 loan at a yearly interest rate of 4%. In this case, there is an interest payment of $40,000 for the first year, reducing net savings to $210,000. The ROE would be:

ROE(%)=(Net Savings After Interest (USD/year))/(Client’s Equity in Project (USD))=($210,000/year)/$500,000 x100%=42%

Internal Rate of Return (IRR)

The internal rate of return (IRR) can best be described as the interest rate the project would yield if it was a stock portfolio or bank account. Therefore, a project with an IRR of 10% would perform better than an investment yielding 8% interest per year, but would be surpassed by another option yielding 12% per year.

Like the NPV, the IRR is not limited by variable cash flows and loan payments, and can be calculated directly with Microsoft Excel with the following formula:

=IRR (Select all yearly cash flows, including the upfront cost)

Concluding Remarks

Financial analysis can add considerable value to engineering design and consulting services, since the client can rest assured that the proposed solutions make sense from both the technical and financial standpoint. For contractors, it can also be a powerful marketing tool – a client is more likely to carry out a mechanical engineering project if the numbers can prove it is a good business decision.

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