HVAC Engineering Woodlawn Chicago, IL2018-10-26T07:28:03+00:00

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

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When you’re looking for a dependable HVAC Engineering in Chicago? Your best bet is to reach out to is New York Engineers. Not only for HVAC Chicago but also Mechanical Engineering and Sprinkler System Engineering throughout Woodlawn Chicago. Call us at (+1) 312 767.6877

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Since 2011 a great number of property owners throughout Ronkonkoma, New York already know that NY Engineers is the engineering firm to contact if you’re ooking for Fire Protection Engineering in NY. What many local real estate investors have not realized is the NY Engineers is also your best choice if you’re searching for HVAC Engineering services in Woodlawn Chicago, IL. Those who need more information on what Woodlawn Chicago HVAC design engineers do? This can be an exclusive profession that come with an extensive set of responsibilities. An HVAC design contractor will be asked to work through a variety of problems to resolve the core issue. This task calls for special expertise, proficieny, and the cabability to handle time cleverly.

After an HVAC personel is licensed to function, they will be hired by an engineering company and begin to functions on many heating, cooling, and refrigeration systems. Their function is usually to design new and alternative options based upon their customer’s requirements. Every client will have an exclusive set of wishes whether or not it has to do with building codes or individual performance anticipations. Using all of this material, the engineer sets off on a journey towards creating something that’s eco-friendly, energy-efficient and perfect for the setting it is going to be placed in – (residential/commercial/industrial). They are generally responsible for the initial drafts and overseeing the specific installation.

On the whole, an HVAC design engineer in Woodlawn Chicago is going to be seen working in a design company or perhaps in a consulting firm based on their years of skill. Most engineers transition right into a consulting job while they grow older and acquire a better knowledge of what is required of them.

Comparison: HVAC Engineer Versus HVAC Technician

HVAC Engineer and HVAC Technician are often mistaken for the other. Yet, they may have different job functions when it comes to working with HVAC systems. It is crucial that you are aware of the dis-similarity both as being a client and as an expert

An HVAC technician in Woodlawn Chicago has a more practical job, which suggests they are often seen visiting a customer’s building to inspect their existing system. They frequently keep up with the installations, repairs, and over-all maintenance that’s needed from time to time. The majority of their job is done together with the customer, which implies they should realize how to connect with people in the correct manner.

Having an HVAC engineer, they are accountable for creating a fresh HVAC system and ensuring that it meets what a client needs. It needs to fit exactly what the home owner wants whether it involves their setup, property, or everything else of new system. They are also brought in to talk on HVAC creations to make certain things are all in step with the latest standards. This is why they can wind up spending some time in consulting assignments or at neighborhood engineering firms. This is the distinction between those two vocation choices; HVAC Technician vs HVAC Engineer. Even with all of this information you would like additional information on the HVAC Engineering services in Woodlawn Chicago, Illinois by NY Engineers you should stop by at our blog.

New Woodlawn Chicago HVAC Engineering Related Blog Post

Financial Analysis: Your Next Mechanical Engineering Project

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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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