Building Owners Research Articles

Theorising member state lobbying on European Union policy on energy efficiency

This paper explores and explains Member State (MS) lobbying on European Union (EU) policy on energy efficiency, with particular focus on legislation on individual metering and billing of heating, cooling and domestic hot water (IMB) in multi-apartment buildings. This legislation has been heavily debated and was amended in 2018 following successful lobbying by the opponents of IMB. The lobbying strategy of Sweden, a small MS of the EU, and its allies in the lobbying coalition opposing IMB is examined, as are different factors explaining the success of their lobbying. A pro-active approach was taken and a broad normative coalition for lobbying was formed, including MSs and interest groups representing building owners and tenants at national and EU level. Lobbying was successful and the IMB provisions were amended. The success of the lobbying was influenced by several factors, i.a. favourable resources, high salience and high complexity of the issue.

Critical Review on Economic Effect of Renovation Works for Sustainable Office Building Based on Opinions of Real-Estate Appraisers

Despite increased renovation work for office buildings to improve energy performance, studies on the appraisal of renovated office buildings (ROB) are scarce. Thus, this study analyzed the perceptions of appraisers regarding renovation work and the effect of renovation work on the economic value of office buildings. Following a reliability evaluation, research results were derived using various methodologies, such as descriptive statistics, Chi-square analysis, analytic hierarchical process, and structural equation modeling, based on the survey results of 118 appraisers. The renovation work was found to positively increase an office building’s value, although the existing appraisal methods have low applicability considering the appraisal of ROB. On evaluating the importance of each factor considered in the ROB appraisal process, the factors related to the “location” of ROB were deemed more important than the attributes directly changed as a result of renovation work. Moreover, factors whose attributes were changed (e.g., working environment, green space, lease area, gross area of floors, number of floors, and number of parking spaces) were found to be critical factors affecting ROB value. The results of this study are expected to provide improvement directions for ROB appraisal methods and significantly aid building owners.

Birds and the ‘Post Tower’ in Bonn: a case study of light pollution

During six consecutive autumn seasons we registered birds that were attracted to an illuminated 41-storey building in Bonn, Germany, the so-called ‘Post Tower’. Casualties on the ground were disoriented by the light and in most cases collided with the building. All-night observations with numbers of casualties, effective light sources, moon, and weather parameters registered hourly allowed for analyses of the role of these factors for the attraction and disorientation of numerous migratory birds. As expected, the conspicuous façade illumination was responsible for many casualties (fatal or non-fatal). Additionally, the illuminated roof logos and even faint light sources like the emergency lights were attractive and led to casualties. Moon and rain were negatively correlated with casualties, but there was no clear correlation with other weather parameters. Turning off lights was key, but effects of other ex post mitigation measures were limited: shutters were not originally intended for the attenuation of light emissions, control technology was insufficient, and there was a lack of willingness of the building owner to reduce light emissions consistently, even during core bird migration periods. Conservation recommendations are derived from this case study.

Shaking table testing of two storey As-Built and retrofitted scaled URM buildings

In November 2016 a Mw 7.8 earthquake struck the upper South Island in New Zealand causing landslides and significant damage to buildings and transportation infrastructures. The earthquake was followed by numerous large aftershocks leading the Ministry for Business, Innovation and Employment to rapidly release a policy that required securing of street-facing parapets and façade of unreinforced masonry buildings with a particular focus on heritage precincts with high pedestrian traffic. While implementation of the policy was ongoing, the experimental campaign described herein aimed to provide building owners and practicing engineers with a better understanding of the performance of different levels of building strengthening and also to propose simple and cost-effective retrofit solutions. The earthquake behaviour of scaled two-storey unreinforced clay-brick masonry buildings was realistically replicated using a shake-table. Two different levels of strengthening were investigated: (i) the use of commonly adopted wall-to-diaphragm connections was used as benchmark, (ii) the addition of vertical strong-backs installed on the upper storey wall and moment-resisting frames placed at the ground floor. Building construction details and material characteristics as well as the obtained results during the shaking-table tests in terms of response of the structure, damage mechanisms and performance achieved are reported herein.

Effectiveness of unreinforced masonry seismic retrofit programmes: review of policies in New Zealand and the United States

Implementing seismic risk mitigation programmes for earthquake-prone unreinforced masonry buildings (URM) is critical to ensure public safety and community resilience in regions of moderate and high seismicity. In New Zealand, it is a mandatory requirement to strengthen earthquake-prone buildings within a prescribed timeframe. However, the rate of compliance has been slow. Building owners delay or hesitate to undertake seismic strengthening, mainly due to uncertainties involved in cost (Egbelakin et al., 2014) [1]. While cost is the pivot of the owner's decision-making process, an effective design of government-led programmes is essential to engage the owners and increase the rate of compliance. This paper compared similar mandatory URM programmes in the United States and New Zealand to identify critical contributors to the success of each programme. In addition, this paper implements a regression analysis using actual remediation cost data gathered from a recent mandatory strengthening programme in New Zealand to identify significant cost factors in seismic strengthening. From the comparison, six key contributors to programme success were recognised, including 1) efficient and flexible financial options; 2) alternative retrofit design solutions; 3) fair penalties and enforcement tools; 4) a clearly laid out action plan and time limits for compliance; 5) dedicated local council staff and case managers; 6) consultation with building owners. The cost model suggested that building characteristics, location, and heritage status are significant in seismic strengthening costs. The findings contribute to the fine-tuning of future programme designs and the understanding of financial impediments building owners face in seismic strengthening. Significant cost factors identified in this study indicate where the allocation of government funding is required the most to maximise the incentivising of owners for early adoption of compliance measures.

Evolutionary Game Analysis of Green Loans Program to Achieve the National Carbon Emissions Reduction Target in South Korea

The green loans program has continued to attract attention as an effective measure for promoting green retrofit to reduce energy consumption in old buildings. Various external factors negatively affect the decision-making process for the government and building owners. In particular, it is unclear how incentives and penalties take effect and to what extent they can influence the green loans program. Therefore, this study identified the influence of political factors, such as loan support and carbon taxation, on the strategic choices of the government and building owners. The results of this study showed that (1) as the supporting interest rate increases, both government and building owners are more likely to select a positive strategy; (2) as the carbon tax rate increases, both government and building owners are more likely to select a positive strategy; and (3) if the maximum supporting interest rate of 4.45% is applied, the greenhouse gas (GHG) emission reduction effect can be increased by about 3–5 times from the current level. It is not easy to achieve the national carbon emission reduction target for 2030 and 2050 only through green retrofitting of old buildings under the green loans program. Therefore, the government should develop an additional research and development budget and encourage developers to enhance the efficiency of green technologies.

Integrative economic framework incorporating the Emission Trading Scheme (ETS) for U.S. Residential energy systems

• The use of renewable sources, such as geothermal (GSHP) and solar energy (PV-integrated systems), turned out to be highly beneficial in reducing building energy demand, operation cost, and GHG emissions. • However, these renewable systems do not guarantee short payback periods. The payback period of ground-source heat pump (GSHP) is relatively long (8.08 to 19.75 years) compared to its high energy efficiency. • For most of the HVAC systems covered in this study, the payback period reduction is between 1.50 and 2.00 years when applying the current ETS policy (California cap and trade). • ‘Emission Trading Scheme (ETS) can shorten the payback periods for all HVAC systems covered in this study. Meanwhile, ‘solar tax credit’ can only reduce the payback periods for PV-integrated systems. • The growing demand for ‘Emission Trading Scheme (ETS)’ will reduce the payback periods for many residential HVAC systems, especially by encouraging the greater use of renewable energy sources. Throughout the past few decades, the residential building sector has been responsible for an increasingly large share of primary energy demand (21.2%) in the United States (EIA, 2020). Such high building energy demand from the residential sector will eventually cause both economic and environmental problems. Therefore, this study provides an integrative framework for evaluating the economic value of multiple HVAC systems in the U.S. residential sector. Specifically, this study calculates the payback period for a number of building energy systems by applying two environmental policies, the ‘solar tax credit’ and the ‘Emission Trading Scheme (ETS)’. A two-story single residential building in Detroit, MI was examined using the TRNSYS software tool. The building systems were subdivided into passive (insulation level) and active (HVAC type) systems. The insulation levels were classified into three scenarios depending on their respective U-values (low, medium, and high). Similarly, the HVAC systems were classified into twelve different types: (1) furnace and window cooling unit (benchmark), (2) air-source heat pump and air-conditioner (ASHP + AC), (3) ground-source heat pump (GSHP), (4) variable refrigerant flow (VRF), (5) VRF integrated with PV (PV + VRF), and (6) VRF integrated with PV and battery (PV + ESS + VRF). Each system can be operated with or without a heat recovery system. The results clearly show that the ground-source heat pump (GSHP) and PV-integrated systems (PV + VRF) are far more efficient than other conventional systems in reducing building energy demand, operation cost and GHG emissions. However, in contrast to these findings, the study also shows that both renewable energy systems have relatively long payback periods (8.08 to 20.50 years) along with their high system efficiencies. This clearly demonstrates that evaluating the overall efficiencies of building energy systems without performing additional economic analysis can mislead the public about the notion of ‘building energy optimization’. This could lead to suboptimal decision-making, whereas using the proposed framework would enable economically and environmentally preferable choices. In addition, this study presents support for the widespread application of ETS to the U.S. residential buildings. The growing demand for ETS will reduce the payback periods for many residential HVAC systems, especially by encouraging the greater use of renewable energy sources. In conclusion, since the economic incentive provided by ETS rewards taking an integrative approach to reduce building energy demand, operation cost and GHG emissions, adopting this policy actively at the national level will guarantee not only economic benefits for individual building owners, but also positive environmental impacts for the entire society.

Reconditioned Low-Voltage Circuit Breakers: Considering Electrical Safety for Applications in Industry

For many years, manufacturing plants in process industries, along with hospitals, schools, and commercial building owners, have installed used circuit breakers in panelboards, switchboards, switchgear, and motor control centers. Often, due to the vintage of existing electrical equipment, reconditioned circuit breaker replacements are the only available option. Is this practice safe? Some recognized industry standards, such as the Professional Electrical Apparatus Reconditioning League (PEARL)/ANSI <i>Accredited Electrical Equipment Reconditioning Standard</i> (<i>EERS</i>) say yes. For molded-case circuit breakers (MCCBs), the recently published U.S. National Electric Code, National Fire Protection Association NFPA 70-2020, says no.

Differences Between Supplier and Customer Experiences of Marketing Mix in the Construction Industry

Suppliers often contend they “know” best when it comes to what the customer wants. Yet, despite using advanced models, such as the 7P (product, place, price, promotion, people, process, and physical evidence) marketing mix, companies can fail to meet their service objectives because customers perceive services from their own perspective. This difference in perspective presents a knowledge gap that requires it to be filled in an objective way. This research study elucidates how differences between supplier perception and customer perception of delivery are objectively identified. In this study, the target population consisted of the managers of the construction companies in Kuwait and their customers as individual property owners of residential, commercial, and industrial buildings. Discrete questionnaires consisting of the 7P marketing mix constructs were created specifically for the supplier and customer. Using a five-point Likert scale, data from 210 supplier staff and 210 customers were collected from the construction industry. The structural equation modeling (SEM) established the beta coefficients of latent variables reflecting the perceptions of both the supplier and customer. Both models were tested for internal consistency reliability using Cronbach’s alpha, and convergent validity was established based on the standardized factor loading and average variance extracted (AVE). In addition, discriminant validity was established using AVE and correlations. The differences between the standardized coefficients of supplier and customer coefficients were then tested against their pooled variance. The results show that suppliers tend to have a higher perception of their delivery on some constructs, while customers maintained a higher perspective on other constructs, that is, suppliers perceived that their product, place, price, and process were adequate, while customer data indicated otherwise. However, it was promising that the constructs of promotion, physical evidence, and people were more favorable among customer perceptions than supplier expectations. Interestingly, customers perceived that the people factor behind the construction industry was excellent. The findings recommend that suppliers scale their perceptions to be closer to the reality perceived by the customers. The study concludes that this approach of evaluating supplier–customer perceptions is highly beneficial to the supplier.

On the factors affecting the restoration of balconies of residential buildings of different periods of construction

The features of the repair of facades of buildings that are not related to objects of cultural heritage, but create the architectural attractiveness of city districts, are considered. The problems faced by the owners of apartment buildings, where there are decorative elements under the balcony slabs, are listed. The tasks that need to be solved to bring the facades of apartment buildings in line with the original architectural design of the building or to make a decision on the development of a reconstruction project with a change in the design of the facade have been established.

An Energy Performance Contract Optimization Approach to Meet the Competing Stakeholder Expectations under Uncertainty: A Canadian Case Study

Energy performance contracts (EPC) can address economic sustainability challenges associated with residential energy retrofitting projects, including funding limitations, poor quality of project delivery, and landlord-tenant dilemma. Literature has overlooked the impact of weighted average cost of capital (WACC) and funding sources in EPC planning. However, the WACC, stakeholder priorities, and uncertainties can alter the project outcomes. This study proposes a Monte-Carlo simulation based non-linear multi-objective optimization approach to address the aforementioned challenges. A case study conducted in British Columbia indicated that the maximum overall project profitability can vary between $18,035 and $20,626 with decision priorities. The overall project profitability can vary over 9% due to uncertainties. The project profits can change over $3000 due to changes in the WACC. These observations confirmed the criticality of accounting for WACC, stakeholder priorities, and uncertainties in EPC planning. The risk of compensating for the performance compromises and profits increases simultaneously for the energy services company with the increasing contract periods, while it is inverse for the owners. Therefore, the contract period must be decided considering the profit expectations and risk tolerance of the stakeholders. Extended contract periods allow lower capital contributions from the building owners, potentially solving the principal-agent disputes in rental buildings.

Juridical Study in Implementing A System on Licensing for Establishing Buildings in Banjarmasin City

A building permit is a permit granted by a regional head to a building owner to construct a new structure, expand an existing structure, maintain existing facilities, and reduce the size of existing structures while adhering to all applicable technical and administrative standards. The requirements to apply a building permit had been governed in Article 7 of Banjarmasin City Regulation Number 15 of 2012 concerning Building Permits. The Investment and Integrated One-Stop Services Agency/DPMPTSP Banjarmasin City was the subject of this study. The research aimed to discover and examine the mechanisms for issuing a building permit and the roadblocks during the application process. This study employed empirical juridical research methods. The data gathered were then analyzed using descriptive qualitative methods, i.e., describing and interpreting data about societal conditions, attitudes, viewpoints, disputes between two or more situations, factual differences, and their impact on a position. The development of a planned and systematic method of granting building licenses in Banjarmasin had gone smoothly. However, there were impediments to the procedure and its implementation, making the process of granting building licenses difficult.

Estimating the Potential of Building Integration and Regional Synergies to Improve the Environmental Performance of Urban Vertical Farming

Vertical farms have expanded rapidly in urban areas to support food system resilience. However, many of these systems source a substantial share of their material and energy requirements outside their urban environments. As urban areas produce significant shares of residual material and energy streams, there is considerable potential to explore the utilization of these streams for urban agriculture in addition to the possibility of employing underutilized urban spaces in residential and commercial buildings. This study aims to explore and assess the potential for developing more circular vertical farming systems which integrate with buildings and utilize residual material and energy streams. We focus on the symbiotic development of a hypothetical urban farm located in the basement of a residential building in Stockholm. Life cycle assessment is used to quantify the environmental performance of synergies related to energy integration and circular material use. Energy-related scenarios include the integration of the farm's waste heat with the host building's heating system and the utilization of solar PV. Circular material synergies include growing media and fertilizers based on residual materials from a local brewery and biogas plant. Finally, a local pick-up system is studied to reduce transportation. The results point to large benefits from integrating the urban farm with the building energy system, reducing the vertical farm's GHG emissions up to 40%. Synergies with the brewery also result in GHG emissions reductions of roughly 20%. No significant change in the environmental impacts was found from the use of solar energy, while the local pick-up system reduces environmental impacts from logistics, although this does not substantially lower the overall environmental impacts. However, there are some trade-offs where scenarios with added infrastructure can also increase material and water resource depletion. The results from the synergies reviewed suggest that proximity and host-building synergies can improve the material and energy efficiency of urban vertical farms. The results provide insights to residential building owners on the benefits of employing residual space for urban food provisioning and knowledge to expand the use of vertical farming and circular economy principles in an urban context.

The Determinants Factors for Solar Photovoltaic Implementation in Existing Building

Renewable energy contributes to the building sector's current global transition towards a sustainable energy system. Several renewable energy sources and solar photovoltaic have sparked great interest in reducing the dependency on fossil fuels and greenhouse gas emissions and mitigating global warming by harnessing the sun to power the energy. However, the exploitation of solar photovoltaic in an existing building requires various considerations with high uncertainty from the building owner. Thus, this study focuses on investigating determinant factors and their influence on the decision of solar photovoltaic implementation to ensure its success and efficiency. For this purpose, an extensive literature review conducted for the establishment of criteria. Then, a questionnaire survey was designed; and with the help of various stakeholders, consists of green building certified professionals to support the process in choosing the determinant factors. The outcome of the analysis from Exploratory Analysis of Principal Component Analysis with Varimax Rotation reveals that solar photovoltaic implementation is affected by economic, management, environmental, and technical factors. Optimizing the factors discussed in this paper provides insight into adopting renewable sources effectively. This paper also contributed to building knowledge to facilitate more research on factors in implementing solar photovoltaic projects in the future.

Ergonomics in the Contemporary Balinese Building: the Integration between Architectural and Structural Aspects

Ergonomic requirements in a building must be reliable. They must meet the safety, health, comfort and convenience requirements specified in the building rules, including the ergonomic safety requirements in a traditional Balinese building. Traditionally, the Balinese utilized their body size to gauge their building's size. However, changes in technology and people's lifestyles have already influenced building techniques. To what extent are ergonomic aspects still used in novel Balinese architecture and building structures? This article examined recent buildings in Bali, integrating architecture, construction, advanced technology and traditional building components. This article analyzed the proper building design and structural system that addresses the ergonomics of the house, the indigenous knowledge of the people, and the advancement of technologies through fieldwork, literature study, interviews and structural analysis using SAP 2000. This study discovered that, traditionally, Balinese people utilized their bodies to determine the scale of their buildings, both in terms of space and structural components. As living standards and technology improved, they have begun to forsake the usage of body parts in measuring buildings. Nowadays, buildings have been designed using meter basis measurement, removing the ability to identify the building's owner using the owner's body as the basic standard for measurement. They also abandoned conventional structural techniques in favor of reinforced concrete systems, especially for non-religious buildings, because reinforced concrete frame structures supported by brick walls are more secure than wooden frame structures. However, the integration during the planning process between architecture and structural design process has still been performed.

Application of Game Theory to Decision Making in Green Energy Promotion

With the promotion and use of intelligent decision systems, intelligent green energy choice decision systems are also maturing. This paper uses the game theory approach of cost- benefit analysis basic local social and energy environment characteristics to analyse how to balance energy efficiency and economic benefits when choosing green energy by guiding and motivating building owners’ decisions to achieve the best environmental energy economic benefits. This paper uses green roof technology as a case study. Because it not only protects the natural environment and improves human living standards, but also creates economic benefits in many ways, it is important to incorporate such a decision theory into an intelligent decision-making system to improve the efficiency and intelligence of the decision and to provide a realistic proposal for the government to choose subsidies for environmental, economic and social benefits.

Contribution of Society and Owners of Buildings in Conservation of Architectural Heritage in the Arab World. (Case Study: “Rawdat Sudair, Saudi Arabia”)

This research aims to study the experience of local people in conserving architectural heritage and to benefit from that in preserving other historical sites. The need for this study is important because: Conservation of cultural and architectural heritage is not merely a government responsibility. The participation of local people in architectural conservation has many benefits. Motivating people to preserve architectural heritage is the responsibility of cultural and educational bodies. The study discusses historical architectural sites in Saudi Arabia. It concentrates on the inhabitants' and owners' role in the conservation of architectural heritage, since, nowadays most of the historical sites were taken care of by the governments. The tools of this research are better than the previous working methods, because, previous models neglect the inhabitants' and owners' role in the conservation of architectural heritage, Methods of this study include literature review, site visits, and interviews with inhabitants and visitors of the Case Study. It also includes site visits to similar historical sites, lectures highlighting the importance of architectural heritage to improve public awareness and to motivate people to take part in the conservation of architectural heritage. The study found conserving, preserving, or rehabilitating traditional buildings cannot be the duty of the owner only or the responsibility of the governments alone.

소규모 공동주택관리의 현황 및 개선방안

Small-sized multi-family housing under the Act on Ownership & Management of Condominium Buildings has no sufficient maintenance and operation management systems. The purpose of this study was to suggest improvement measures for the management of small-sized multi-family housing based on a survey of management status and recognition of the managers in charge. The survey included 10 apartment complexes with more than 50 households and fewer than 150 households in Cheongju city. It was conducted from March 13, 2020, to April 18, 2020. The survey had two methods, a field survey to understand the physical condition of the apartments and interviews with semi-structured questionnaires for the managers. This study analysed the data by the size of the apartment complex households. The results were as follows. (1) Managers of non-obligatory management multi-family housing applied the Multi-family Housing Management Act rather than the Act On Ownership and Management of Condominium Buildings. (2) Managers reported that insufficient maintenance cost and long-term repair allowances made it difficult to increase the number of maintenance personnel and reinforce facility safety. (3) Seven out of 10 apartment complex managers did not want to switch to the obligatory management multi-family housing due to stronger legal sanctions, increased management fees and work intensity, and resident objections.

젠트리피케이션의 개선 정책에 관한 고찰

It is a very natural phenomenon in the capitalist economic system for the tenant to move to another area because the commercial building owner, the lender, imposed a rent increase. However, if such occurrence causes the movements of tenants in the area to greatly accelerate or the existing commercial area to experience a decline, it will eventually bring negative consequences to the local community, or even the whole country.<BR> The study on the phenomenon of gentrification began while taking into consideration the residential move. As the movement of commercial areas gradually increased, commercial gentrification has recently become a significant issue that the central government or local governments have to resolve.<BR> The phenomenon of gentrification found in the past in Western society is also currently occurring in Korea. Whether it be the central region or local regions, the commercial areas of the regions are displaying the pattern of remaining stagnant for a while with the increase of rent, and then rapidly declining.<BR> To find a solution, the central government tried to protect tenants by inducing the easing of rent increases by making amendments to the Residential Building Lease Protection Act and enacting the Act on Win-Win Growth and Revitalization of Local Commercial Areas. Local governments are also enacting various bylaws to promote cooperation between the parties involved in local economic activities.<BR> However, institutional measures with high degrees of completion against gentrification are yet to be prepared. Gentrification is a phenomenon that always appears as the global concentration of wealth becomes more severe. This is because it is an issue that can be resolved only under the premise that there is a mindset of understanding and concession among the competing agents of economic activity.<BR> The central government and the local governments need to make the following efforts in order to establish reliable measures against gentrification.<BR> First, indicators must be prepared in order to effectively understand the current status of gentrification. Second, based on the information from the indicators, a measure must be prepared in order to induce the lenders and tenants to enter into a win-win agreement and carry it out. Third, detailed goals or standards should be incorporated in order to prevent institutional flaws or conflicts between parties from occurring during the process of creating and managing the so-called win-win cooperation mall established by each of the local governments.<BR> However, the countermeasures against gentrification should never impose sacrifice or concession to only one side of the interested parties. Also, providing severe one-sided benefits through the implementation of the countermeasures should never be accepted. One should always avoid attempting to find a solution to the gentrification phenomenon only within the scope of the relationship between the lender and the tenant. This is because it creates a vicious cycle in which only short-term, short-sighted solutions are pursued.

An analytical method for identifying synergies between behind-the-meter battery and thermal energy storage

Electric utilities build generation capacity to meet the highest demand period, and they often pass on the costs associated with these peaking generators to building owners through demand charges. Building owners can minimize these demand charges by shifting energy use away from peak periods with behind-the-meter storage. This storage can include batteries, which can directly shift the metered load, or thermal energy storage, which can shift thermal-driven electric loads like air conditioning. However, there is a lack of research on how best to combine battery and thermal energy storage. In this study, we develop an analytical sizing method to calculate the potential demand reduction and annualized cost savings for different combinations of thermal and battery energy storage sizes. We show that adding batteries to a thermal energy storage system can increase the total system's load shaving potential. This is particularly true when the building has onsite photovoltaic generation or electric vehicle charging, which add significant variability to the load shape. We also show that for a given total storage size, selecting a higher fraction of thermal energy storage can significantly lower the cycling of the battery, and therefore extend the battery life. This, combined with the expected lower first cost of thermal energy storage materials compared to batteries, shows that hybrid energy storage systems can outperform a standalone battery or standalone thermal storage system. Assuming the thermal storage has a capital cost 6x lower than the battery, our analysis shows that the optimal system is 71% thermal energy storage and 29% battery energy storage for a scenario with electric vehicle charging. The annualized cost savings for this system are $48.6 k/yr, whereas an equivalently sized standalone thermal energy storage system would provide annualized cost savings of $28.5 k/yr and a standalone battery would lead to savings of $8.72 k/yr. The hybrid system also reduces battery cycling by 52% compared to a standalone battery, extending battery lifetime.