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Adopting Geothermal Technology at The Hotel McGibbon
SilverCreek is uniquely introducing geothermal technology at The Hotel McGibbon, greening the building with real benefits residents will feel every day. This is not some greenwashing campaign. Now you might be wondering, what is geothermal technology and how does it work in a condominium.
Geothermal technology is a system for heating and cooling, replacing the conventional HVAC. It has no need for fossil fuels, thus eliminating the use of natural gas. We are working with Diverso Energy to install in-ground piping with heat pumps in each suite and common areas.
So how does it work? In the cooler months heat pumps compressed heat and converts it to usable warm air, while in the warmer months this process is reversed – heat is transferred into the ground. You control the temperature in your home as you normally would. Individual metering also ensures you only pay for what you use.
What about pricing? Because the building doesn’t rely on the fluctuating price of natural gas, building costs remains consistent, month to month, over 30 years. This system not only costs residents less monthly, as a collective. Which is to say, the cost is fixed. The building saves over $1 million over 30 years, and that savings is, of course, transferred to residents. Your individual costs will also be less month to month because you’re using much less energy.
Safety is also a priority for us. This renewable energy source is directly below the building and can’t be interrupted by any event, including weather events. If the power goes out, generators will keep the system going no matter what. The system is incredibly durable and reliable.
It’s good for your wallet, comfort, and the environment.
Other Major Benefits:
- Quiet living – No noisy HVAC or ugly tanks to look at
- Reduced emissions – Take 43 cars permanently off the road, equivalent to 175 tons of CO2
- 30 to 40 percent reduction in energy use
- Save 4 million litres of fresh water per year, just for cooling, also eliminating any need to dispose of harmful chemicals used
- Save $1 million on the building’s energy bills over 30 years, translating to savings on your bills
- Increased real estate value by 5 to 15 percent
*Renderings and illustrations are artist’s concept.