Affordable Energy Solutions for SMBs: Tips for Managing Costs
Your small or medium-sized business’s success is important, so it’s possible that you won’t give your energy costs much thought. However, monitoring your energy efficiency and making the necessary adjustments given the rise in energy prices is essential.
A significant amount of money can be saved by reducing your company’s energy consumption, freeing up funds that can be used to expand. A few small changes can significantly lower costs for energy mitigation for your company and increase sustainability.
Conduct An Energy Audit
An energy audit should be the first step to managing your business energy costs. Energy audits examine your business’s energy consumption. It will help you understand how much energy you consume, where you can reduce consumption, and pinpoint where energy is wasted. Additionally, energy audits can identify any safety issues related to ventilation, the electrical systems, and the property’s wiring.
You might be surprised to learn what small businesses pay for energy. Sixty-five percent of SMBs allocate twenty percent of their total business costs to energy consumption. The energy audit allows you to determine areas to improve consumption waste, maximixing potential cost savings.
Install Energy-efficient Lighting
Improving your energy efficiency is as easy as changing a lightbulb! Switching to LED lightbulbs significantly impacts your energy costs and your carbon footprint. LED bulbs can reduce your electricity costs by up to ten times.
LED light bulbs don’t contain any harmful or toxic materials like mercury. Because of this, you can dispose of a broken light without worrying about mercury leaking into the environment. LED lightbulbs have an exceptional life expectancy and are 100 percent recyclable.
Switch Off and Unplug
Did you know that electronic devices or equipment use electricity while plugged in or in standby mode, which accounts for over 10 percent of your energy bill? The Energy Saving Trust says that switching off and unplugging unused devices and equipment could save up to £65 a year.
For example, continuously leaving a computer and monitor can cost as much as £45 per year. Multiply this amount by the number of computers your SME runs daily to get the overall cost. Any equipment that isn’t in use should be unplugged. Alternatively, investing in smart plugs can help reduce consumption and are designed to prevent draining phantom energy.
Consider Smart Technology
Adding smart technology like a smart meter or thermostat and using smart plugs increase convenience and save your energy bill money.
Installing a smart meter may not actually save you money, but it can help keep tabs on how much energy you’re using. The meter shows you when you use the most electricity and how much it costs. Having all those details right there on the display lets you see where you might be wasting energy so you can cut back and lower your bills.
Smart thermostats are great for monitoring how much gas and electricity your business goes through. You can even control the heating with your smartphone or tablet. These thermostats come pre-programmed with settings that are easy to customize, and over time, they learn your routines and adjust the temperature automatically, so you don’t have to do anything. Using them is an incredible way to maximize energy savings and reduce your business expenses.
Smart plugs are outlets or power strips that connect to WiFi. You plug devices into them to control and track energy use from an app. Some great things about smart plugs are seeing how much juice your gadgets are sucking up and being able to turn off standby power sinks you’re not using. Just tap your phone and stop wasting electricity.
Switch Energy Suppliers
Reducing costs is a top priority for a company’s financial planning. It must be carefully watched, regularly bargained and accounted for like any other overhead. Part of financial planning is keeping your operational costs low; switching energy suppliers can lower your bill.
Switching energy providers, you can benefit from incentives like lower energy costs, alternative energy plans, access to renewable energy plans, or alternative rate structures. Use a comparison website or an energy broker to find an energy supplier that meets the needs and budget of your SME and gets you the best possible deal.
Reducing your energy consumption and making small but cost-effective changes is the easiest way to save on your energy bill. Government agencies, energy providers, and charities offer programs and grants to help businesses with rising energy costs. Contact your municipality and your energy supplier to find out what is available. For the latest company news and advice, visit https://techdayhq.com.