How To Reduce Your Business's Electricity Prices

Categories: Energy, Tips & Tricks

How To Reduce Your Business's Electricity Prices

Electricity is the most significant expense for most businesses and takes up a remarkable chunck of not just a business’s energy expenses but their overall expenses in general. That's why businesses need to keep adapting and developing new techniques and strategies to try and reduce their electricity consumption. There are a lot of great changes a business can make, some small alterations that can save small amounts here and there, to more wholesale changes that can leave your business substantially better off. 

Reducing your electricity consumption, thus your energy consumption, is good for your business but also equally as beneficial to the environment. Here are some methods to do just that: 

Switch Providers

The main reason why businesses are paying so much on electricity is because they're usually with a provider that doesn't suit them. That's why it's a good idea to compare quotes and shop around when you're nearing the end of your contract, as there's always the potential that there's a better deal out there for you that can significantly reduce electricity costs. Business electricity comparison services can be really helpful in aiding companies with that switch, as they guide you through what to look for and inform your business on what best suits them. 

Some providers also include a smart meter installation. This is extremely useful in two ways as it helps keep your bills accurate as you'll only have to pay for what you've used. It's a good way for businesses to monitor their consumption as well so that it's easier for them to make changes to reduce their spending.

Replace Your Machines With More Efficient Options

The most significant users of electricity are electronics and lighting, so it's sensible to try and replace these items with far more energy-efficient alternatives. Although it may be an expensive initial cost, doing so can be seriously rewarding in the long run. 

For example, many businesses are switching their bulky and electricity guzzling desktops for more economic laptops. This is because desktops can use up to 320 watts of power, whereas a laptop at most only uses 60 watts. It's said that high specification desktops, which is most common in businesses, cost $160 a year to power. A laptop only costs 5% of that, coming in at $13 a year, making it far more economical and energy efficient. Laptops are also great as it allows businesses to be more mobile and are easier to set up.

Light bulbs are another thing that can be replaced as low powered LED bulbs are far greater than traditional ones, as they're able to convert around 70% of their energy into light, making them far more effective. They're also long-lasting, meaning that they'll have to be replaced far less often. There's plenty of other benefits of LED lightbulbs too that makes them far superior to anything else out there.

Invest in Renewable Energy

Businesses need to change and embrace renewable energy more as it's the most beneficial for the environment and helps reduce greenhouse gas emissions. Investing in renewable energy shouldn't be considered a sacrifice, though, as it can help businesses reduce their electricity and energy bill. 

One of the most obvious ways it does this installing your own energy sources to power electrical items such as solar panels and turbines can help cover a significant portion, or in some cases, all of a company’s energy needs, meaning that you won't have to pay for as much. It's believed companies can reduce their electricity bill by 75% by just installing solar panels. 

Although this installation is expensive, there are many government incentives and grants that can help reduce the costs, not to mention that installing renewable energy also gives your business to boost funds by selling excess energy back to the national grid, which can be greatly beneficial. 

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