As business owners, keeping operating expenses under control is essential to ensure your bottom line is not impacted. Some operating expenses, like your monthly utility bills, are unfortunately unavoidable. One area where significant cost savings can be achieved is with your business utility bill.
Implementing practical, measurable steps can reduce your overall consumption, which lowers your monthly costs, and ultimately saves your business money. You do not have to make drastic changes that impact your daily operations. A few smart and practical steps can get you started right away. Here are four ways to begin.
Compare and Switch Energy Suppliers
Switching energy suppliers can be a smart financial move for businesses looking to reduce costs. As soon as your energy contract ends, your current supplier automatically switches you to their standard energy tariff. With variable energy tariffs, your unit rate and standing charges might change if the costs of wholesale energy change. In contrast, a fixed-rate tariff provides stability when the energy market fluctuates, which does not impact your energy bill in any way.
Making the switch can save on business utilities when you compare providers online, find an energy plan that fits your business budget, and help determine whether it is more feasible to have a single supplier for gas and electricity rather than two.
Know Where You Are Wasting and How Much You Are Using
Performing an energy audit can help you reduce your costs. Energy audits determine how much energy your business consumes and how much is wasted. An energy audit can also offer suggestions for reducing consumption and lowering operating costs. Energy audits can be performed telephonically, onsite, or internally. Most energy suppliers provide the service for free; however, contacting them is worth ensuring.
Consider Hybrid Energy Solutions
Hybrid energy systems combine one or more renewable energy sources, such as solar power, with fossil fuels. A hybrid energy system helps businesses reduce costs and risks as well as the opportunity to make an extra income selling excess energy back to the National Grid. It protects your business from price hikes and power outages by not relying solely on the grid.
Invest in Smart Technology
Smart devices are becoming increasingly common and the norm. Not only do you have convenience at your fingertips when installing smart technology, but it effectively reduces energy waste. It’s a great way to become more eco-friendly and sustainable as a business.
Smart Plugs and Power Strips
If office appliances, equipment, or electronic devices are still plugged into a wall socket after being turned off, it continues using energy. Smart plugs and power strips can assist in reducing wasteful energy use.
For instance, the smart plug or strip will turn off power to that outlet once your employees turn off their desktop computers at the end of the day, saving money and much-needed energy. A smart plug or power strip will automatically plug and unplug your energy-draining devices for you rather than you having to do it.
Heating unoccupied spaces in your office is a waste of money and energy. However, a smart thermostat can assist you in setting up heating zones that set the temperatures in occupied rooms. You can program different temperatures for each room, use the timer to specify when the thermostat is operational or switch off the device using a smartphone. Smart thermostats provide real-time data on your energy usage so you can reduce your consumption when needed.
Smart meters allow you to precisely measure your gas and electricity usage and send the readings to your energy provider remotely. A benefit of installing a smart metre is that you can easily track how much energy your business uses and how much you are spending. This feature gives you accurate readings, allowing you to calculate how much money you have spent.
Perform Regular Maintenance Checks
Regular maintenance checks are essential for HVAC, heating, and boilers to run effectively and efficiently. Not only does it prevent costly expenses from untimely breakdowns, but it also avoids potential energy waste and fire hazards.
The lifespan of your boiler, HVAC and heating system can be increased with proper maintenance, resulting in fewer costly repairs or replacements. As a result, significant energy savings can be gained, leading to lower utility bills and a safer and more comfortable office environment.
Implementing practical but smart measures for reducing a business’s utility bill benefits your company’s bottom line. By taking simple steps like changing your energy supplier or installing a smart thermostat, your business can significantly reduce energy consumption and save money in the long run. For additional insight, visit https://newtheory.com/