Title:
Energy Management at Georgia Tech: A Guide and Cost-Benefit Analysis of the ISO 50001 Standard
Energy Management at Georgia Tech: A Guide and Cost-Benefit Analysis of the ISO 50001 Standard
Author(s)
Sinharoy, Sinan
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Abstract
The goal of this paper is to provide a roadmap and cost justification for Georgia Tech to create an Energy Management System (EnMS) and become certified for the ISO 50001 (2011) Energy Management Standard. The Standard provides guidance for organizations to integrate energy efficiency into their management practices, which would enable the Institute to establish the systems and processes necessary to continuously improve energy performance, thus increasing efficiency and reducing costs in a transparent and sustainable fashion. The paper is broken down into four main chapters: Chapter 1 includes an introduction that provides a background analysis and explains the ISO 50001 standard. Chapter 2 is primarily focused on case studies and has a brief list of organizations that have adopted the standard with their experiences and results. Many organizations that have implemented the standard have seen energy performance improvements of 15- 20%. Chapter 3 provides a road map that has step by step suggestions and recommendations for the Georgia Tech community to move forward with the process of implementing the standard. Chapter 4 includes a cost-benefit analysis for ISO implementation. The costs and benefits to the Institute from increased personnel time devoted to ISO administrative duties, capital expenditures for energy efficiency projects, and annual energy cost savings are estimated from 2013 to 2020. The net present values of costs and benefits are calculated for three different social discount rates, and benefit-cost ratios are presented to aid in the decision making process. The benefit-cost ratio for ISO 50001 implementation is over 2.7 for all discount rates, which means the present value of the benefits outweighs that of the costs.
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Date Issued
2013-05
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Text
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Masters Project
Applied Research Paper
Applied Research Paper