Working out your return on investment is crucial. By breaking down your current costs of servicing & maintenance and taking into account the cost of potential failure or downtime, you are soon able to see the financial benefits of installing Tan Delta oil condition monitoring equipment.
The summary below from an existing client, gives a detailed breakdown of their project, the cost savings, and the return on investment.
EQUIPMENT MODEL | 785D Mining Truck |
APPLICATION | Oil Sands Mine |
LOCATION | Canada |
TYPE OF OIL | Castrol Tection Extra 15W-40 |
OIL CAPACITY | 291 Litres |
OIL COST PER CHANGE ($2.32 / Litre) | $675.12 |
OIL CHANGE SERVICE INTERVAL | 500 Hrs |
COST OF DOWNTIME | $300 / Hr |
ENGINE COST | $391,000 |
COST OF FAILURE (excluding engine repair / replacement) | $18,000 |
To increase the oil service intervals, reduce number of oil changes and wastage, whilst maintaining integrity of equipment and preventing failure. Data from the sensors is transmitted wirelessly to the control centre where it can be viewed live and logged for trend analysis. Warning and alarms are set to alert the operators when the oil has reached a critical state.
OIL QUALITY SENSOR (OQSxG2) | $840 |
GATEWAY (OQTg) | $1,200 |
GATEWAY SENSOR CABLE | $170 |
GATEWAY POWER CABLE | $130 |
TOTAL | $2,340 |
Current | Projected | |
---|---|---|
OIL CHANGE INTERVAL (DAYS) | 21 | 42 |
OIL CHANGE INTERVAL (HOURS) | 500 | 1000 |
NO. OF ANNUAL OIL CHANGES | 18 | 9 |
ANNUAL OIL COST | $12,152 | $6,076 |
MONTHLY OIL COST | $1,013 | $506 |
Monthly Oil Cost Savings: $506
Annual Oil Cost Savings: $6,076
Payback Period: 4.62 months
ROI in Y1: 160%