Banyan Water, the leading provider of data-driven water conservation software for the built environment, today released its 2022 Banyan Water Analysis Trends and Emerging Risk (W.A.T.E.R.) Report.
Banyan’s report analyzes 2021 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 du jour. 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—hundreds of leaks, preventing more than 58 million gallons of water waste and cost.
- Landscaping inefficiencies lead to unnecessary water waste: Changing from turf to xeriscape can result in 50% to 100% reduction in water consumption.
- Rising regional water rates drive property expenses: Banyan reported an increase in water rates across the U.S.—many cities are experiencing triple digit rate increases due to drought and infrastructure upgrades.
- Unpredictable water flow rates lead to unforeseen costs: Water rates are highly variable making it difficult to anticipate water related expenses throughout a property’s lifetime.