The 132 series balancing valve accurately sets the flow rate of heating and cooling transfer fluid supplied to fan coils and terminal units or where flow balancing is required in solar thermal systems. Proper hydronic system balancing ensures that the system operates according to design specifications, providing satisfactory thermal comfort with low energy consumption. The flow meter is housed in a bypass circuit on the valve body and can be shut off during normal operation. The flow meter permits fast and easy circuit balancing without added differential pressure gauges and reference charts. The balancing valve is furnished with a preformed insulation shell to optimize thermal performance for both hot and cold water systems.