Hi again,
You'll be controlling air flow rate to maintain space temperature (modulating the VAV damper).
You can add reset to control supply air temperature if desired (modulating the chilled water valve at the air handler). This may be done to conserve energy, raising supply air temperature during low-load times and lowering it for higher load times. Or, it may be done for better humidity control, lowering supply air temperature for more dehumidification and raising it for less.
You'll be controlling water pressure to maintain a minimimum needed by your worst-case coil. As the two-way valves close with decreasing load, your pump will slow to save energy.
You may add reset to control water supply temperature if desired (modulating the chiller or boiler setpoint). This may be done to conserve energy or as a complement to supply air temperature reset for humidity control.
Each loop adds some cost, but in general the payback is very good for each (depending on location, electric/fuel costs, etc...).
Most non-residential jobs I encounter include at least the VAV, variable-water-flow, and hot water supply temperature reset controls (I think the hot water reset is mandated in the 90.1 energy code by ASHRAE, as noted above). The supply air temperature reset is a bit less common -- more often, it's employed for humidity control rather than energy savings. But both advantages are available.
Since each loop is handled independently, complexity isn't as serious as you'd think. It may seem daunting, but building automation contractors nowadays do this stuff in their sleep.
Good on ya,
Goober Dave
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