All businesses want to control their operational costs as best they can, and with the relentless rise in energy, it’s no wonder we’re all looking for ways to become more energy efficient. So we are outlining the three ways our clients have looked (and succeeded) at optimising their energy expenditure.
Undertaking continual cost comparisons
This is essential if time-consuming. But with the cost of energy being what it is, this needs to be high on your priority list. Whether you are in manufacturing, pharmaceutical, retail or any other business – you all have one thing in common: a large energy spend.
If you don’t have the time to invest in making sure you are getting the best deal, consider your options. Hire purchase, lease or energy service agreements are all viable, flexible options that can now be considered. It’s just about finding the right energy efficient funding partner for you.
Optimise the life of existing equipment
Reducing energy consumption doesn’t have to cost you a fortune. In fact, if you are just getting started then perhaps the first thing to do is look at how you can optimise the life of your existing equipment. What upgrades can you invest in that will save you hundreds (if not thousands) in the years to come?
Replace equipment with more efficient technologies
With new technologies entering the market every day and utilising the latest energy-saving designs, this is by far the most cost-effective way to reduce your energy expenditure in the long run. Nowadays, you can invest in equipment that will not only meet the 2020 Global Warming & Energy Efficiency objectives, you’ll also reduce your company’s carbon footprint, deliver energy cost savings and reduce wastage.
Just think about how much you could save not just in energy efficient lightbulbs, but all those one-off times where the lights were left on overnight, the heating on with the windows open, the refrigerator set to the wrong temperature. With smarter technology, this can be a thing of the past – and the potential energy savings are huge. We know. We’ve seen them.
So, if you’re ready to start optimising your energy expenditure or you’re looking to cut costs, have a read of our Management Guide to Financing Energy Efficiency Investments. It will outline exactly what you could be doing to get ahead of the curve when it comes to energy costs.