Selecting and installing a building management system is a critical process. Without preparation, it can also be costly. Learn how to find your ideal building management system price.
Smart building technologies are constantly evolving—a system installed five years ago can be outmoded by year seven. However, there is a constant: Building automation systems can drastically cut energy and operating costs alike. The question on the mind of building operators everywhere, however, is just how much will a building management system (BMS) cost you? The answer is complicated, but they can range anywhere from $5,000 to $250,000.
BMS system pricing varies depending on what you’re looking for. Factors such as building type and system application can affect the value of an installation. Frazier Service Company can scale a solution up or down according to your price range and what you want in a BMS. In fact, we’ve even invented a few ways you can keep costs low with strategic energy management programs.
To properly determine the costs involved with BMS installation, you need to understand whether you’d prefer a BMS solution rooted in traditional or IoT technology. Knowing the difference between these building control options can save you both money and a headache.
The average cost of building management systems using traditional applications and strategies is at least $2.50 per square foot, with prices reaching as high as $7.00 per square foot. For a 100,000 square-foot building, that means a cost of around $250,000.
The specter of low ROI keeps many building operators from taking a risk on the implementation of any BMS. Even when a BMS is purchased, the technology is often only installed for use in those areas of a building that receive the most traffic. Low-traffic locations like warehouses, storerooms, and garages are ignored.
Around 90 percent of all building stock in the United States offer no smart building functionality. Energy consumption by the U.S. is represented primarily by the residential and commercial sectors, with each sector making up a combined 40% of total U.S. energy consumption. When only 10 percent of U.S. buildings make up that high-traffic, BMS-prone population, that’s a lot of energy that isn’t monitored and controlled, leading to waste and exorbitant energy costs.
Traditional BMS solutions offer a great advantage for a difficult price. Building operators in charge of small or medium-sized businesses are right to be wary. Lucky for them, however, there’s another option.
Building automation systems (BAS) have traditionally utilized wired connections. Only recently have wireless solutions gained popularity and been deployed to monitor and control end-use devices. Cloud-based control systems offer both the basic functions of a traditional BAS as well as more contemporary strategies.
Compared to older BMSs, an existing building can be easily retrofitted with a wireless solution. Many buildings—especially new ones—are treated with hybrid systems that feature both wired and wireless connections. These systems, powered by a new generation of IoT connected devices, are a cost-effective and scalable way to overcome the challenges presented by the traditional BMS.
BMS system prices are no longer prohibitive. Frazier Service Company offers options that are well suited to businesses of all sizes; small or medium-sized organizations shouldn’t feel they can’t participate in the ongoing BAS boom.
Because smart building technologies are relatively new, it can be difficult to predict their price trajectory. At the moment, introducing cloud-based systems to your new or existing buildings can range anywhere from $5,000 to $50,000. It’s possible, however, that in the near future the average cost of building management systems will become as low as $0.75 per square foot, five times less expensive than a standard BMS system implementation.
Investing in a BMS doesn’t need to be a cause for stress. The invention of newer, tech-forward solutions means outfitting your building with control systems is more affordable than ever. If you’re looking to install a fresh HVAC system or cutting-edge lighting technology, you can expect savings of around 10 to 25 percent for medium-sized commercial buildings.
IoT Building Management Systems are:
- Cheaper than traditional BMSs, with the potential for even more affordable strategies as the technology matures
- Easy to introduce to existing buildings
- Capable of reconciling a mixture of both wired and wireless connections