HVAC Engineering Mayfair Chicago, IL 2018-10-29T20:32:29+00:00

What Can Our HVAC Engineers in Mayfair Chicago Do For You?

Electrical Engineering Information

Since coming to market a lot of developers throughout Spring Valley, New York already know that NY Engineers is the engineering firm to call when you are ooking for MEP Engineering in NY. What a lot local building owners have not realized is the New York Engineers is also your best choice if you are looking for HVAC Engineering services in Mayfair Chicago, Illinois. Those who need to learn more about what Mayfair Chicago HVAC design engineers do? It is an exceptional task which has a detailed listing of responsibilities. An HVAC design engineer will have to go through a variety of concundrums to work out the underlying issue. This job calls for superior skill, professionalism, and the capability to handle time prudently.

Once an HVAC personel is licensed to function, they may be hired by an engineering company and begin to operate many cooling, heating and refrigeration systems. Their function is usually to design new or replacement selections in line with their client’s requests. Every client will have an exclusive set of needs whether it has to do with developing codes or personal performance anticipations. Using all of this material, the engineer sets off on a trek towards making something that’s energy-efficient, eco-friendly and perfect for the setting it’s going to be utilized in – (residential/industrial/commercial). They are often responsible for the first drafts and managing the particular installation.

Generally speaking, an HVAC design engineer in Mayfair Chicago is going to be seen working in a design business or perhaps in a consulting firm depending on their numerous years of expertise. A great deal of engineers transition in to a consulting job while they become older and achieve a better comprehension of what is expected of them.

Comparison: HVAC Technician Versus HVAC Engineer

HVAC Technician and HVAC Engineer tend to be confused with the other. Yet, they have got separate tasks in terms of managing HVAC systems. It’s vital that you understand the difference both as being a customer and as an expert

An HVAC technician in Mayfair Chicago carries a more direct job, which suggests they are usually seen visiting a owner’s building to inspect their present system. They often times handle the installations, repairs, and general keep that is required ever so often. Almost all of their jobs are done together with your client, which implies they have to discover how to connect to people in the right way.

With an HVAC engineer, they are accountable for designing a brand new HVAC system and making certain it fits exactly what a client is after. It needs to fit exactly what the house owner wants whether it involves their setup, property, or anything else associated with new system. Also, they are brought in to refer to HVAC designs to be certain everything is in line with today’s standards. That is why they could find themselves spending time in consulting tasks or at local engineering firms. That is the distinction between these vocation choices; HVAC Technician Versus HVAC Engineer. There’s only so much you can save this page if you would like additional details on the HVAC Engineering services in Mayfair Chicago, Illinois by NY Engineers you should take a look at our Mayfair Chicago Plumbing Engineering blog.

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Financial Analysis: Your Next Mechanical Engineering Project

Mechanical Engineers

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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