IoT-based water conservation software leader, Banyan Water, today released its 2021 Water Analysis Trends and Emerging Risk (W.A.T.E.R.) Report on the heels of announcing it has saved 4 billion gallons of water for enterprises.
Banyan’s report analyzes 2020 data from its portfolio of properties, identifying major enterprise-level water risks jeopardizing large-scale conservation amidst historic droughts. The report also identifies the millions of dollars in hidden costs properties face due to water mismanagement coupled with rising regional water rates.
“Severe droughts threatening water reserves are not just an issue. We’re combating a full crisis,” said Gillan Taddune, CEO of Banyan.
“Corporations can no longer put water management on the back burner. Insights from our report underscores the importance of Banyan’s data-first water management system that eliminates costly risks for U.S. enterprises.”
The report explores market data on water usage and climate in the U.S. to reveal:
Water leaks critically impact enterprise-level risk: Banyan identified—and stopped—more than 505 leaks, preventing more than 5.1 million gallons of water waste.
Regional rainfall amounts vary, posing challenges: Fluctuations in average daily rainfall resulted in unpredictable water supply and demand, complicating property management and increasing the risk of loss.
Rising regional water rates drive property expenses: Banyan reported an increase in yearly water rates across several regions of the U.S.—as much as a 7.6 percent increase in rates year-over-year—and highlighted significant rate increases in Houston.
Unpredictable water flow rates lead to unforeseen costs: Existing buildings and local infrastructure are not standardized across the United States, making it difficult to anticipate water-related expenses throughout a property’s lifetime.