Thanks Jason for hopping in here!
I have to question these numbers.... How did 80w become $2800 per year?
80w = 700Kw*hr = $70-100 per year.
How many servers are they using to get $2800?
The Novec system is to remove heat from the system... not the heat from the server room (unless you have closed loop that leads outside). The HVAC costs come in removing heat from the room.
In this example though we're comparing current modern server rack configurations against the concept of a closed container submerged server array. Think along the lines of an insulated chest style deep freezer with a rubber seal, containing many (50+) naked board level servers in VERY close proximity, all submerged in the fluid bath.
In this scenario, one is condensing the resulting Novec vapor using a common / traditional radiator cooling system. Closed loop on the radiator, to the atmosphere outside the facility. The fluid in this example would have a higher boiling point, say 49C or 61C so it more easily condenses in outside atmosphere without the need for high energy use compressors, TE coolers, etc. After all, why would one just move the heat to a different area inside of the facility where it has to be dealt with again?
(It would be even better if there were a cooling pond built nearby the facility, or a geothermal setup that the cooling system could run through to really get the heat out)
Now, for cooling, you are only paying the energy to run a pump and radiator fan. All the server fans, along with their dirt, noise, and energy usage are all eliminated, as are the need for oversized HVAC systems to take away all the extra heat generated by the servers. Additionally, any area of the board that becomes hot beyond the liquid boiling point is naturally actively cooled, so you don't have to worry about proper air flow, hot spots, hot swapping failed fans, etc. etc.
(You will of course still have to deal with hard drive heat / noise, and basic comfort climate control needs)