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In: Accounting

the individual assignment is required to be submitted as stated in the lecture plan. Each comprising...

the individual assignment is required to be submitted as stated in the lecture plan. Each comprising of total 10%. This assignment will cover the assessment of all topics in this course. Here are the instructions: The walk-through audit can be a standalone task or one part of a standard energy audit. Typically, this type of audit is sufficient for small buildings with simple energy systems including residential buildings and low-rise commercial buildings. Write the final report after completing any energy audit type for a residential building.

Solutions

Expert Solution

In any industry, the three top operating expenses are often found to be energy (both electrical
and thermal), labour and materials. If one were to relate to the manageability of the cost or
potential cost savings in each of the above components, energy would invariably emerge as a
top ranker, and thus energy management function constitutes a strategic area for cost reduction.
Energy Audit will help to understand more about the ways energy and fuel are used in any
industry, and help in identifying the areas where waste can occur and where scope for improve-
ment exists.
The Energy Audit would give a positive orientation to the energy cost reduction, preventive
maintenance and quality control programmes which are vital for production and utility activi-
ties. Such an audit programme will help to keep focus on variations which occur in the energy
costs, availability and reliability of supply of energy, decide on appropriate energy mix, identi-
fy energy conservation technologies, retrofit for energy conservation equipment etc.
In general, Energy Audit is the translation of conservation ideas into realities, by lending
technically feasible solutions with economic and other organizational considerations within a
specified time frame.
The primary objective of Energy Audit is to determine ways to reduce energy consumption
per unit of product output or to lower operating costs. Energy Audit provides a " bench-mark"
(Reference point) for managing energy in the organization and also provides the basis for plan-
ning a more effective use of energy throughout the organization.


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