Ways to Save Your Business Money on Energy Bills
All companies cost money to run and some business expenses are unavoidable. That being said, there are various ways to lower your operational costs and save more each month. The average medium-sized business spends over £6,500 a year on gas and electricity, but many with high electricity usage productions and facilities will spend considerably more. Fortunately, there are several ways to reduce your energy consumption, lower your carbon footprint, and cut the cost of your electricity. With this in mind, here are some of the top ways to save your business money on energy bills:
Switch to your own solar power system
Switching to renewable energy is one of the easiest ways to cut your energy costs and minimise environmental harm. Renewable energy needn’t cost more either with Solar PV actually saving you around 65% on electricity bills. Solar power is one of the most popular forms of renewable energy in the UK and many businesses have switched to solar in recent years. The solar industry has evolved rapidly over the years and modern solar panels are designed to be low-maintenance and provide 25 years of warranted hassle-free green energy but their lifespan actually goes way beyond this time.
When you have solar panels installed on your commercial property, you are essentially securing a future energy supply for your business. This means you won’t have to worry about energy prices increasing and affecting your cash flow. This is a huge advantage considering that energy prices have almost tripled in the past 10 years.
Along with being a cost-effective alternative to traditional fossil fuels, renewable energy will play a vital role in the fight against global warming. Switching to solar will instantly reduce your company’s carbon footprint and help you create a greener, healthier working environment. Climate change is a hot topic and many consumers want to support eco-conscious organisations. In fact, a recent survey found that 61% of millennials are willing to pay more for eco-friendly products. Installing solar panels on your commercial premises is a visible way of demonstrating your support for sustainability. This should help you boost your brand image and attract new customers, thus increasing sales and revenue potential.
Encourage eco-friendly habits
Another simple way to reduce your energy bills is by adopting eco-friendly habits in the workplace. Educate your staff on the importance of sustainability and encourage them to be conservative when it comes to their energy usage. You can easily save energy at work by ensuring that all work equipment is in the most eco-friendly mode i.e. have computer monitors set to automatically go on standby if they are not in use for five minutes or more. You should also make sure that electronics are switched off from the wall whenever they are not in use. Even simple changes to your habits can make a big difference in the amount of energy used in the workplace. You can encourage your team to be more eco-friendly by offering incentives and rewarding employees for their green efforts. For instance, you can use an energy monitoring device to track electricity usage in your business, then reward all staff with a free lunch once your electricity usage drops by an agreed percentage.
Upgrade to energy-efficient office equipment
Upgrading to eco-friendly office equipment should instantly lower your energy usage and cut your monthly utility bills. Purchasing new office equipment may seem like a large expense, but it should pay for itself over time through the cost-saving benefits, especially if your current equipment is old or outdated. Another energy-saving tip is to replace any incandescent light bulbs with energy-efficient versions such as LEDs. These use far less energy and also need replacing less often. Upgrading your office lightbulbs is a quick and affordable way to save money on your energy bills and make your workplace more energy-efficient.
As a business owner, you should evaluate your spending regularly and look for ways to cut costs. Energy is a large monthly expense for companies, but there are various ways to reduce your energy consumption and save money on your utility bills. Switching to renewable energy and encouraging green habits in the workplace will lower your carbon footprint, improve your overall brand image, and save you money each month. This additional revenue can then be invested in developing core areas of your company that will drive growth and profits. Use the above suggestions to start saving money on your energy bills today.