Businesses searching for the best places to cut costs often don’t consider just how much overhead can factor into profit loss. In particular, utility bills can take a significant toll over time. The cost of energy use is on a steady climb, and it’s important for business owners to take precautions and considerations in order to avoid unnecessarily high bills.
There are several changes that you can make to your day-to-day operations that will have a drastic effect on how much you’re spending on utilities. If you want to save money on your business utility expenses, consider beginning with these five effective suggestions.
Switch To LED Bulbs
Your electric bill is probably going to be one of your highest, so it’s important to learn where to cut corners. Lighting is something that is very easily replaceable in an energy-efficient way. Traditional lighting usually uses fluorescent or incandescent bulbs, which use a lot of expensive electricity. The best replacement for these bulbs is LED lighting.
LED lighting is a great alternative to its counterparts for many reasons. LED bulbs use up to 80% less energy, and last 25 times longer. This makes the switch a win-win. The only slight catch is that the bulbs might cost a bit more upfront. But over time, the investment will pay for itself tenfold.
Making the switch is easy, but here are some tips to help you out:
- Conduct an inventory of your lighting right now before making the switch. This way, you’ll know the exact size, shape, and number of LED bulbs you need to purchase.
- Make sure the bulbs you buy have the “Energy Star” label. These have been certified by the U.S. Environmental Protection Agency, so you know they’ll be the best.
- To make sure that the installation process runs smoothly and efficiently, consider hiring a professional electrician to install them for you. This, of course, depends on the complexity of your setup.
Implement a Demand Response Program
You may or may not have heard of a demand response program, which is something that many utility companies offer as a way to incentivize their customers to reduce their electricity usage during a specified period of time. You see, when demand for electricity is high, utility companies need to purchase additional power. This usually comes from a very expensive source, so prices increase to meet this demand. Of course, this isn’t ideal for anyone involved.
So, to encourage their customers to reduce their electricity usage during these peak demand periods, demand response programs are offered. These programs usually involve some kind of financial incentive in exchange for using less power. For example, your utility company might offer a credit on your next bill.
Participating in a demand response program can be an effective way for businesses to reduce their utility bills, so try looking into whether or not your current utility company offers this kind of program.
Contact A Professional For An Audit
When you conduct an energy audit, you can identify the best, most valuable places to save money on your bills. If you don’t know, an energy audit is a comprehensive evaluation of a building’s energy usage and is very all-encompassing. The auditor will then provide recommendations for improving energy efficiency based on their findings.
If you don’t want to worry about inviting a professional onto the premises, a bill audit can also be handled online. To save yourself the headache, and ensure you don’t miss any possible cuts, consider bringing in a professional to handle your utility bill management. The best part is that there isn’t a single factor left unconsidered – even things like your Internet and trash bill will be thoroughly analyzed for savings opportunities.
Install A Smart Thermostat
Heating and cooling is, without a doubt, a significant contributor to high utility bills. But, installing a smart thermostat can save money by making your HVAC systems more efficient. There are a lot of benefits to installing smart thermostats, but some of the key features include:
- Automatic temperature adjustments are based on factors like the time of day, occupancy, and even outdoor weather conditions.
- When you have a smart thermostat, you can access it remotely. This way, you can adjust the temperature even if you’re away from your business, all from your mobile device.
- If you haven’t been tracking it before, another bonus of smart thermostats is that they monitor your energy use and provide strong insights.
Make sure the thermostat is compatible with your HVAC system before installation, and make sure you take full advantage of its features for the strongest financial impact.
Watch Your Water Usage
We’ve covered the other facets of utility, but water is one that might go unnoticed. There are several ways that businesses can reduce their water usage, and this will make all the difference the next time your bill rolls around.
The most common way to reduce water usage is to install low-flow faucets and toilets. These fixtures not only cost less, but they also use a lot less water. Another strong way to reduce water usage is to implement water-efficient landscaping. This can include something as simple as using drought-resistant plants and using mulch to retain your soil’s moisture.
Saving On Your Bills Is Easier Than You Think
Don’t underestimate the amount of money you might be wasting. Even if you don’t want to go searching yourself, it is well worth the time and cost of having a professional audit of what you’ve been spending on utilities. Imagine what you’ll save in the long run if you make these small changes now. If you stick with energy-efficient alternatives as your business grows, the savings will get even more significant. It’s well worth it, and you’ll feel much better knowing you’re saving as much as possible!