Electricity bills constitute a significant portion of costs for all business owners. For most companies, these are among the top three expenses. In the USA, small businesses alone spend a collective $60 billion on energy yearly. The exponentially rising energy charges over the last few years have considerably increased business expenses. Moreover, the recent lockdown situation has led to the digitalization of those businesses that managed to stay afloat. From Zoom meetings with employees to virtual marketing through the internet, many business operations rely on electricity provision. Optimizing your business electricity consumption is, therefore, a necessity in these stressful times.
You can utilize electricity efficiently by negotiating the best deals with reliable suppliers, minimizing wastage in offices, and selecting the equipment thoughtfully. Here are some other practical tips to help your business.
- Choose Your Suppliers Thoughtfully
Your energy suppliers are primarily responsible for the contrast and deals you avail. You cannot terminate a commercial electricity contract halfway through, and it lasts for years. To avoid wasting too much on electricity bills, make a thoughtful choice by comparing the quotes of different suppliers beforehand.
Additionally, you should research variable-tariff plans and consider the credit ratings of the suppliers. Their customer service quality and availability alongside technology offering and any additional services also factor in, besides the charges. It is significant because you can develop a healthy relationship with the suppliers over time and negotiate better deals.
- Consider Renewable Energy Sources
Renewable energy provision for businesses is a relatively new trend, but it can be a great option. It can help you build an environmentally sustainable business model by reducing your carbon footprint. Based on your location, the renewable energy options can entail solar thermal energy, wind power, and hydroelectric power.
Although they require the installation of new technology, it can be a great way of reducing your regular electricity bills. The UK-based business can especially benefit from wave generation. These can also become one of the selling points of your business, besides stabilizing the soaring electricity expenses.
- Monitor Electricity Consumption Better
If your bills are inexplicably high, the solution may lie in better monitoring of electricity distribution. Conducting an energy audit can help you get an insight into the situation and set achievable energy-saving goals. You can now utilize data analytics technology to pinpoint electricity wastage. Using cutting-edge technology can also help you eliminate inefficiencies.
- Prioritize Energy Saving through HVAC System
You can tailor your heating, ventilation, and airconditioning (HVAC) system to optimize electricity usage. Overseeing proper system boundaries and regularly maintaining thermostat points can improve the efficiency of the system. You can also install automatic controls to regulate airflow. Cleaning the system filters and seasonally adjusting them can be of great help.
Organic ways of reducing over-reliance on the HVAC systems can be planting trees outside your business premises. In summers, solar eating and vegetation can facilitate a cool temperature.
- Asses the Electricity Usage of Equipment
From refrigerators in the kitchen to computers in offices, businesses install a lot of electricity-dependant equipment. You can devise guidelines to unplug the appliances when not required. Setting electricity-saving as a team goal can help your business effectively reduce its hefty bills.