Water harvesting is currently being sought after by industrial property owners and users, according to Travis Erridge, cofounder and director of TM Insight, due to an increased emphasis on sustainability initiatives.
“Five years ago, water harvesting was limited to tier-one builders and developers, but it is now ubiquitous for any new facility over 10,000 sq metres,” Erridge said to Commercial Real Estate . “Demand is growing due to the commercial benefits for tenants and also the ability to reduce their environmental footprint, which is an important issue for many companies from a corporate governance and corporate social responsibility lens.”
Water harvesting mostly is used for landscaping irrigation and toilets, in regular industrial sites, according to Commercial Real Estate . However, for refrigerated industrial facilities, water harvesting has become an important tool to be resourceful with water consumption and also create operational savings.
“In a refrigerated environment, water is used across the condensers to create cool air,” Erridge said. “During hot days, a large amount of water is needed to keep the environment cool. Tenants are using harvested water to generate the large amount of water required, which is saving a huge amount of main water and also water costs.”
He also noted the benefits and savings of water harvesting can be maximized when used with solar power, according to Commercial Real Estate.
An average water tank is priced at about $200,000. However, Erridge said the system could pay itself back within one year, “but only if the landlord rentalizes the cost of the system with the base building.” Cost then is rentalized at 6% to cover the charges, which is paid off by water cost savings.
According to Commercial Real Estate, the cost “only applies if the water harvesting system is considered in the design phase of a building and is rentalized from the developer.”