Running a business is expensive — not only do you have to pay for the people who make it exceptional, but you have to carefully craft and work in your overhead costs. These costs account for the necessities such as rent and your energy bills. It’s often the little things we can be doing that will save us money in the end, so really navigate this question, is your business energy efficient?
At Energy Network Solutions, we are your partner in energy management for your business and save you money on your monthly energy bills with our skilled energy consultants. Read more about how your business can actively participate in practical energy savings to save you money to better grow your business.
Wasting energy costs your business a lot of money.
The Facts Behind Energy Usage
The Environmental Protection Agency (EPA) and Energy Star program have found that $60 billion is spent on energy by small businesses each year.
The National Federation of Independent Business (NFIB) has found that businesses spend more than one-third of their costs on energy and it makes the top three of the most costly business expenses.
- There are an estimated $40 to $50 billion dollars consumer money lost to energy fraud and scams.
Small businesses have the ability to reduce their energy costs by 10 to 30 percent through ways which include:
- Getting better energy rates
- Efficiency upgrades
- Behavioral adjustments
The great news is, you can always work towards better energy efficiency to lower your monthly bill.
View Energy Savings a Little Differently
There are a million lists of tips on how to save money on energy costs and they’re all good and relevant, but sometimes you have to think in a different way to get better results.
Where and who is your energy coming from?
You have to have energy utilities to run your business, so it’s important to shop around for the best rate. Not every area will have this option, but do a little research to see if yours does. There are often options available to switch from your utility to an energy supplier to guarantee prices and save you money.
It’s important to lock in energy prices if you can, because as we’re all aware, energy prices can change fast and without warning.
Switching to solar has been touted for decades and if your business can do it, it’s a wise investment. Not only is there a tax credit that has been extended through 2019 to businesses, it will greatly impact your monthly energy costs.
Look For Tax Breaks
It never hurts to investigate the federal or local tax breaks that are available to help save your business money. This can be as big as moving towards solar, or small steps such as transitioning towards Energy Star appliances.
Connect With Other Businesses
We know, you’re busy trying to run a business and don’t have the time getting together with other business owners. However, do an informal call and just ask if they have any tips or energy hacks to help save you money. Believe us when we say, people and businesses get very creative when it comes to tactics to save money!
Do an Energy Audit
Whether it’s informal or formal, it’s critical to do an audit on where energy is being wasted and where it can be saved. You can find a checklist on the EPA site or hire a company — such as us — to go through and really comb your business for the best energy solutions.
These are just a few ideas to help get your wheels turning and thinking outside the box! Education is always key, so see what’s available to you and talk with others around you to see how they’re tackling these large overhead costs.