Can Your Business Reduce Its Energy Expenses?
Energy bills are a significant expense for many businesses, and with energy prices at record levels, reducing energy consumption has become more important than ever. However, the benefits of energy efficiency go beyond cost savings. Adopting energy-saving measures can improve environmental sustainability, regulatory compliance, reputation and branding, and resilience and risk management. In this article, we will explore six practical ways that businesses can reduce their energy bills and the benefits of doing so. By implementing these energy-saving measures, businesses can improve their bottom line while also contributing to a more sustainable future.
Why the Need to Reduce Energy Bills?
As a business owner, reducing energy bills is always a priority. With rising energy prices and the economic challenges of recent times, it's essential to find ways to lower your energy usage and save money.
Businesses should prioritise reducing their energy bills for several reasons, including cost savings, environmental sustainability, regulatory compliance, reputation and branding, and resilience and risk management. By implementing energy-saving measures, businesses can reduce their environmental impact, comply with regulations, enhance their reputation, and become more resilient to fluctuations in energy prices.
Take Control of Your Business Bills
Despite rising costs, it is possible to take control and help you reduce your bills and improve your environmental impact. Here are six energy-saving tips that can help you achieve this goal:
- Improve insulation: One of the most effective ways to reduce energy consumption is by installing insulation in your business premises. Insulating walls, floors, and roofs with a material like fibreglass insulation helps to retain warmth and reduce the need for central heating.
- Upgrade to energy-efficient appliances: Using energy-efficient appliances is critical in driving down energy use. In recent years, laws have been passed to ensure that all new boilers are "condensing" models, which reuse heat in flue gases and are up to 90% energy efficient. Upgrading to such models can save up to 40%-50% of energy compared to non-condensing models.
- Use a programmable thermostat: Programmable thermostats allow you to adjust the temperature of your business premises when nobody is around. By lowering your thermostat by just one degree Celsius, you could save up to 10% on your heating bill, according to the Energy Saving Trust.
- Get a professional energy audit: Conducting an energy audit of your business premises can help you identify areas where energy is being wasted. An energy auditor will examine your heating and cooling systems, insulation, lighting, and appliances, among other things, and provide you with a report outlining ways to save energy and reduce costs. Alternatively, a smart meter can help you understand your energy usage patterns.
- Be aware of peak demand hours: During peak demand hours, electricity rates are higher because of greater demand from power plants. By avoiding using electricity during these times, you can significantly lower your electricity bills—up to 10% by some estimates. Try to schedule high-energy activities during off-peak hours to minimise costs.
- Educate staff: Raising awareness about energy efficiency and the impact of energy consumption can go a long way in reducing energy usage. Providing information on energy-saving practices, such as turning off lights and equipment when not in use, using natural light instead of artificial lighting, and adjusting the thermostat to a comfortable but energy-efficient temperature, can help to change habits and reduce energy consumption across the organisation. Encouraging staff to be mindful of their energy usage can also create a culture of sustainability that extends beyond the business building.
By implementing these six energy-saving measures, you can lower your business's energy bills without sacrificing comfort or drastically changing your work environment. So why not start saving money today?