It’s no secret that the last five years have been especially tough on businesses. The economic crash has left many on the brink of bankruptcy. The cost of living has risen dramatically while wages have stagnated. That has meant a real hit on businesses. On top of this, companies have faced rising energy costs and are forced to make strict budget cuts. It’s a difficult time and the last thing a business needs is a huge energy bill.
Although many costs are spiralling out of control, the energy bill is one thing you can get a handle on. Businesses can save a significant amount of money by reassessing their energy consumption. Energy forms a massive part of a company’s overheads and many overlook the cost. It is seen as an accepted cost of doing business. However, there is thousands to be shaved off if you know where to look.
Do regular meeting readings
This a very simple, quick thing that all businesses can do. It’s an easy check to see if you’re paying too much for your electricity. Many energy deals will be struck with an estimated usage in mind. You can agree a price and this will stick in place for years. Are you checking whether that price is an accurate reflection of usage?
All businesses can be a little tighter on energy consumption. Make sure employees are switching off computer monitors overnight. Ensure that someone is responsible for turning off lights and installing low watt bulbs. Tracking all the little things can make a big difference in a large building. With technology at an advanced level, let people work from home every now and then too. They’ll enjoy the home comforts and they won’t suck the company’s energy.
Our gut instinct always tells us to stay loyal to energy companies. We assume that this will lead to rewards and lower prices. Unfortunately this couldn’t be further from the truth. Energy suppliers are always looking for new customers and will offer incentives to new clients. Businesses may be able to switch electricity providers and save a fortune in doing so. It can be a slightly more complicated process than switching at home. But, it will be worth the hassle.
Invest in green energy
Although this requires a little startup cost, it will save a lot of money in the future. You will you save a fortune on energy bills by using your own renewable energy. It’s not just for the home. In many countries you will also be entitled to a tax break as an incentive for going green. You will also be entitled to more carbon credits which can be used to power your business elsewhere. In some cases, grants are available for green startup costs too. Do some research and see if your business could benefit.
Cutting business energy costs is all about finding the little areas that you can make savings. In a business, the small costs add up to big difference. When you take into consideration multiple workers and a large office, you can save a lot of money.