Value of a building : Information and life cycle. Frank Hovorka mrics REHVA fellow

Transcription

1 Value of a building : Information and life cycle Frank Hovorka mrics REHVA fellow

2 Summary Introduction : The structure of building stock in France I. New issues to consider to build green buildings A. Taking the 4 energy consumption categories into account B. Assessing and monitoring a real efficiency of green buildings II. Green value of buildings A. Definition B. Mechanisms leading to green value creation C. Theorizing green value 2

3 Introduction: Structure of the building stock in France Housing Stock (2010) 32,6 million of residences (2.4 billion square meters) 15,5 million individual houses 12 million of collective housing 3.2 million of secondary residence 1.9 million of vacant buildings Non residential buildings 904 million square meters 64,5% Sector Surface Area Heated (Mm 2 ) Ratio Outlets % Offices % Schools % Health 104; % Sport % Hotels -restaurants ,9 % Collective buildings % Transportation % TOTAL % 3

4 I. New issues to consider to build green buildings

5 A.Energy in the building : the impact of mobility and of grey energy Order of magnitude of the energy expenditure categories in BBC buildings kwh/ sqr meter/year Lighting Water Heating Equipement Mobility Grey energy Operational energy Average Optimized Specific energy Car PC Mobility Average Optimized Grey energy (répartie sur 50 ans) Amortized on 50 years 5 Département Etudes, Planification Stratégique et Développement Durable

6 A.Energy in the buildings: 4 energy expenditure categories to consider Operational Energy Thermal wreck Existing stock Consuption 2005 Consumption 2015 RT 2005: 130 to 250 kwh pe /m²/an RT : 40 à 65 kwh pe /m²/an kwhpe/sqr meter/year ~20 million housing before 1975 Lighting and auxiliaries Warm water Heating 6 Source: CSTB Towards positive energy builgings Département Etudes, Planification Stratégique et Développement Durable

7 Specific electricity A.Energy in the buildings: 4 energy expenditure categories to consider Housing: 20 à 70 kwh pe /m²/year (Ademe) 60 à 80 kwh pe /m²/year (Enertech study 2008) Specific electricity Baking Hot water Heating Total Tertiairy buildings: 30 à 300 kwh pe /m²/year (Ademe) 104 kwh pe /m²/year (Enertech study 2005 on 50 offices ) 75 kwh pe /m²/year (comparison BDD Gécina 478 /IPD 553) 7 Evolution of the energy consuption (Housing) Source: Bâtiments Chiffre clés 2010 Ademe Département Etudes, Planification Stratégique et Développement Durable

8 Grey Energy A.Energy in the buildings: 4 energy expenditure categories to consider Order of magnitude : MI BBC : 1500 à 2000 kwh pe /m² On average 36 kwh pe /m²/year (on 50 years) Fluctuation of grey energy depending on the forecasted life duration But it depends much on The life duration of the building The construction processes Grey energy 100 years Grey energy 100 years Grey energy 100 years 8 27 Département Etudes, Planification Stratégique et Développement Durable

9 Energy in the buildings : Greenhouse gas emissions for the whole life-cycle When the chosen scope is appropriate, the assessment of greenhouse gas emission covers all the energy categories previously described and even more (refrigerant fluids, decarbonation for the cement ) Contribution of the construction 9 Département Etudes, Planification Stratégique et Développement Durable

10 A.Energy in the buildings: 4 energy expenditure categories to consider Mobility Impact of the localisation of the building on: Commuting Average of 16 km per day (source : INSEE) Work related travel Average consuption for a work related travel :156 KWh ep (Genesis, 2007) Variation of the consumption linked to mobility depending on the transportation type Hypothèse d occupation: 20m²/pers (IPD 2010) 10 Département Etudes, Planification Stratégique et Développement Durable

11 A.Energy in the buildings: 4 energy expenditure categories to consider Operational energy RT 2005: 130 to 250 kwh pe /m²/year BBC «all uses» : 40 to 65 kwh pe /m²/year Specific electricity Housing: 10 to 50 kwh pe /m²/year Tertiairy buildings: 30 to 300 kwh pe /m²/year Grey energy RT : 1200 to 2000 kwh ep /m² To kwh/m² : IGH BBC conventionnel: 800 to 1600 kwh ep /m² Mobility Distance between work and home: 16km AR (average) 20 km return : car : 6450 kwh ep /an bus: 630 kwh ep /an 11 Département Etudes, Planification Stratégique et Développement Durable

12 B. A real efficiency of green buildings : What performance?

13 B. A real efficiency of green buildings: Evaluation of the energy consuption Mandatory Energy Performance Certificate (EPC) X kwh/m 2 Building design and energy simulation using dynamic software Y kwh/m 2 Display Energy Certificate (DEC) Z kwh/m 2 National rules to calculate energy consumption based on standardized use and system performance. Commissioning of a building and its mechanical systems. Facility management, maintenance and user behavior. 13

14 B. A real efficiency of green buildings: Importance of the conception phase Respecting the regulations and/or performant? 400 LIAISON EF -CALCUL RT IndB + STD 350 Consommation énergie primaire - kwhep/m²shon ECL; 17,46 AUX; 139,62 FR; 59,77 ECL; 148,0 AUX; 165,4 ECL AUX FR CH 50 0 CH; 37,6 Calcul RT Projet FR; 10,2 CH; 21,2 STD Projet 14 14

15 B. A real efficiency of green buildings : A garantee of energy performance? 15

16 B. A real efficiency of green buildings : The comfort of the occupant This is a zero energy home! 1616

17 B. A real efficiency of green buildings: The norm EN

18 B. A real efficiency of green buildings: Key indicators Use of raw materials Indoor environnement quality Building emissions Primary energy CO2 Emissions Grey energy Thermal Confort Indoor Air Quality Waste Production 18

19 B. A real efficiency of green buildings : Impact of use The individual management of indoor atmosphere: better confort and lower consuption 19 Rik Maaijen TU Eindhoven

20 B. A real efficiency of green buildings: The occupant first 20 [Parys et al., 2011]

21 B. A real efficiency of green buildings Energy : What for? The perimeter of atmosphere 21

22 B. A real efficiency of green buildings Indoor air quality Background noise Chats of other people Luminosity Light reflexion Light spots Fibers Velocity of the air Particulate matter Temperatures of the air and of the surfaces of the room Emissions dues to traffic Humidity Mold spores Emissions dues to materials 22

23 B. A real efficiency of green buildings Emission and elimination of pollutants 23

24 B. A real efficiency of green buildings Indoor atmosphere quality Thermal confort is considered good if the percentage of unsatisfied is lower than 6% (EN15251). In reality, the percentage of unsatisfied occupants can reach 30 %. 100 % 90 % 80 % 70 % Dissatisfied (%) 60 % 50 % 40 % 30 % 20 % 10 % 0 % Case buildings (29) Thermal comfort Indoor Air Quality Acoustic Privacy 24 Results of a case study of perceived indoor environment quality in 29 office buildings in Finland. Source: Perceived IEQ Conditions: Why the actual percentage of dissatisfied persons is higher than standards indicate? Kosonen et. al. Indoor Air 2008

25 B. A real efficiency of green buildings Multiple impacts of HVAC Health Comfort Productivity Fire safety Indoor environment quality Length of life time Life cycle cost Maintenance Environmental risks Hazardous substances Energy use CO 2 -emissions Life cycle costs HVAC Durability, Serviceability Flexibility, Adaptability Refurbishment schedule Churn costs Interruptions in use Future use 25

26 B. A real efficiency of green buildings The energy and the life cycle ENERGY CONSUMPTION Grey energy Transportation Specific energy «5 uses» Replacement energies TIME Year 1 Year 2 Year n 26

27 B. A real efficiency of green buildings A proposal 27

28 B. A real efficiency of green buildings Toward a zero Carbone building A balance of the emission equal to 0 at the end of the life cycle. emissions 0 Carbon emission for the whole life cycle Grey Energy + Consumption Production 0 Manufacturing + renewal + end of life 28

29 B. A real efficiency of green buildings : Comparing BEPOS/Zero Carbon in LCA BEPOS : Production Consumption 0,25 m² PV / m²shon P V Grey energy 50 kwhpe/m².a 2,5 kgco2/m² -2,5 kgco2/m².a Consumption =Energy production Zero Carbon 2,1 m² PV /m²shon!!! PV PV Grey Energy Carbon emissions for the whole life cycle 50 kwhpe/m².a 2,5 kgco2/m² kgco2/m².a Renewal of the panels (life duration of 25 years) Consumption Production 50 years

30 B. A real efficiency of green buildings Necessity to think at a neighborhood scale to get to «Bepos» 30

31 II. Green value of buildings

32 A. Definition Definition: The green value of a building is the net additional value that it is possible to reach on the market for efficient ( resources, energy, but also indoor quality and confort) Example of impacts on the financial performance For the Landlord For the tenant Strengths Constraints Strengths Constraints Premium on market value Big investment expense Service charges economies Financial contribution to the project Premium on the rental value Better liquidity Reduction of the litigation risk Risks of area loss Negociation with the tenant to forcast Coûts de mesures, de certifications,.. Productivity gains Better image Less dependant to a rise of the energy prices Augmentation of the expenses linked to confort Eventual obligations to limitate the consumption of rented premises Eventual obligation of monitoring and communication 32

33 B. The mechanisms Building life cycle and value creation Certification TOOLS: STD BIM IN-USE List of the components Environnemental Indicators: Technic Functionnal Social Economic Environmental (EN 15978, ) DEMOLITION 33 33

34 BUILDING ASSESMENT INFORMATION BUILDING LIFE CYCLE INFORMATION PRODUCT STAGE CONSTRUCTION STAGE USE STAGE END OF LIFE Raw material supply Transport Manufacturing Transport Construction and installation processes Use Maintenance Repair Replacement Refurbishment De-construction and demolition Transport Waste processing Disposal Re-use, recovery, recycling potential B. The mechanisms The cycle of value creation Operational energy use Operational water use 34 SUPPLEMENTARY BEYOND LIFE

35 35 B. The mechanisms The cycle of value creation Better indoor and outdoor environment SUSTAINABLE BUILDING Lower environmental impact: Healthy; Comfortable; Beautiful; Energy efficient; Low carbon; Resource efficient; Non-polluting; Adaptable for future. More investments TENANT More business: Health and comfort of employees, longer careers; Productivity of workers; Better brand; Can employ better people; Lower churn costs Lower energy consumption Less maintenance and repairs Less CO 2 -emissions DEVELOPER More profitable sales: Increased value Lower risk Easier to get financing Easier to sell Higher rent Longer contracts OWNER Higher value: Lower risk Lower life cycle costs Easier to rent Continuous income Part of corporate responsibility Lower taxation in the future? Increased demand Higher price

36 B. The mechanisms The cycle of value creation Building Information (BIM) Database Components Performance Routings Material use Work load Commissioning Energy use BUILDING LIFE TIME PROCESSES Design Construction Use and maintenance Demolish 36 PERFORMANCE INDICATORS: e.g. Embodied carbon of building (kgco 2 /m 2 ) Carbon emission of energy use (kgco 2 /m 2 ) Carbon emission of travelling (kgco 2 /person) Primary energy consumption (kwh/m 2 ) Energy use (MJ) Water use (m 3 /person) Landfill waste (kg/person) Indoor air temperature deviation (%) Particculates matter (µg/m 3 ) CO 2 -level of indoor air (ppm) Maintenance cost ( /m 2 ) Energy costs( /m 2 ) Rent income ( /m 2 ) Design Design management Water use Waste Costs Income Cost analysis Sustainability assessment Tendering process Construction management Start-up of systems Life time commissioning Facility management Risk analysis Portfolio analysis Responsibility reporting Property valuation Due diligence

37 Simple quantification C. Theorizing green value Economic balance and green value Financial calculation Complex quantification 37 Energy economies Economies of routine maintenance Commissioning economies Obsolescence limitation Reduction of the insurance cost Better productivity of the occupants Appreciation of the building s value Appreciation of the image Rentability and/or strategy? Calculation hypothesis used to justify the economic interest of the energetical performance on a project. Arguments used to systematize the integration of the energetic performance integration in the projects. Strategy

38 C. Theorizing green value Value equation Performance Bâtiment Exploitation = x x Intrinsic Monitoring Quality Maintenance Usage Env. Qual of practices 38

39 C. Theorizing green value Applying DCF method Source T. LUTZKENDORF

40 C. Theorizing green value Definition Analyse of a building life-cycle and its HVAC system : Analyse of the life-cycle cost: Investment cost of HVAC systems and other systems Energy consumption Maintenance Replacement cycle Performance indicators: Energy consuption Water consumption Greenhouse gas emissions Waste Indoor air temperature Indoor air quality Costs linked to life cycle Performance analysis: Energy simulation Simulation of indoor conditions Simulation of the lighting Building information modelisation (BIM) => quantities Life cycle assessment (LCA) => Environmental impacts Discounted cash flow: Market Value Better indoor environement Net operating income (rent operating costs) = Capitalization rate (riskless rate + premium growth + depréciation) Energy costs Maintenance costs Replacement costs System flexibility HVAC Longer life duration of HVAC and of the other components 40

41 C. Theorizing green value Information and reporting 41

42 C. Theorizing green value An example of green value evaluation Traditional Building Low energy building (-25%) Sustainable Building Rent /m 2,a Maintenance /m 2,a Energy /m 2,a Net rent income /m 2,a Renting process rental months Free rent period rental months Churn rental months Total months rental months Rental period years Net operating income /m 2,a Capitalization rate % Value /m Change % + 2,3 % % 42

43 Impact of a rise of the indicator on the value Definition Office Supply Determinants Short term Middle Term Vacant office stock Start of construction Rate Exogenous Indicators Evolution of financial markets and impact on liquiditty GDP Office demand determinants Usage cost of goods Evolutin of tertiary employment Evolution of financial markets and impact on liquiditty Cost of land Proximity and diversity of mobility elements Localisation Connectivity Proximity with the tenant clients Attractive lanscape and view Endogenous indicators Qualty of the good Beauty Non Physical Capital (status, historic capital, ecoresponsability) Volumetry and distribution Thermal quality (respect of the current thermal regulation) Duration of life / obsolescence Usage cost (water, energy) Occupant confort (Indoor air quality, luminosity, noise, temperatures) Differenciation of the cost of capex 43 Resistance to climate change (flooding, damages to materials and technical equipement)

44 C. Theorizing green value Current market evaluation Study Certifications Overvaluation (certified vs non certified) 44 Miller & al. (2008) LEED Market value: +10% Kok & al. (2008) Fuerst & al. (2009) Pivo & Fischer (2009) Kok & al. (2010) Wiley et al. (2010) Energy Star Market value : + 5,8% Energy Star LEED LEED ou Energy Star Energy Star (bâtiments localisés dans des zones en redéveloppement) Energy Star LEED LEED ou Energy Star Market value : +16% Rental value: +3 à 6% Results are not significant Rental value : +5 à 6% Market value : +31 à 35% Occupation rate : +3 à 8% Operating results: +2,7 à 8,2% Rental value : +4,8 à 5,2% Market value : + 6,7 à 10,6% Occupation rate : +0,2 à 1,3% Market value : +13% Rental value : +6,6% Market value : +11,1% Rental value : +5,9% Rental value : + 7 à 17% Occupation rate : + 10 à 18%

45 HVAC in Sustainable Office Buildings - A bridge between owners and engineers Task Force: Maija Virta, Fin Frank Hovorka, Fra Andrei Litiu, Rom Jarek Kurnitski, Est Risto Kosonen, Fin Lars Nielsen, Den Available on : 45