Top six ways businesses can reduce their energy costs

With businesses only just recovering from the pandemic, rising costs are pushing many to the brink. According to a survey by The Federation of Small Businesses, 15% expect they could have to close or downsize due to spiralling energy bills. 

With the Government's new energy support package proving inadequate for needs of business at this time, we wanted to share some tips on how your company can keep its costs down while also becoming more sustainable. 

As Albert Einstein said, “In the midst of every crisis, lies great opportunity.”

1. Replace lightbulbs with LEDs

Although they may have a higher initial cost, LEDs have a lifespan of 25,000 hours, compared to a normal bulb’s 750 hours. This translates to 33 bulbs saved for every LED purchased. 

LED lights are also about 30% more efficient than fluorescent lights, meaning you’ll get through less energy.

You could also look into getting lights which detect whether a room is occupied, so they are only being lit when they’re needed. 

According to research from the Department of Energy & Climate Change, the average business could reduce its energy bill by up to 25% by installing efficient measures such as these. 

2. Consider investing in solar energy

While solar energy is expensive at first, you will reduce energy and electricity consumption significantly in the long run. Any electricity generated that isn’t used can also be sold back to the grid. 

Investing in this type of renewable energy source will also put your firm ahead of growing legislation designed to curb emissions as reaching net zero becomes a central focus.

3. Turn off equipment when not in use

It sounds obvious but equipment such as desktops, printers, TVs, and monitors use a lot of electricity. By being vigilant and turning these off when they’re not in use, you can expect to make savings.

4. Invest in a smart meter

You can use a smart meter to track your energy use and send readings to your supplier to ensure you are paying for what you use. You will also be able to see for yourself how much you’re using, allowing you to manage your usage. 

You can check you’re eligible for a smart meter by contacting your energy provider.

5. Carry out regular maintenance checks

By keeping your business equipment functioning and up to date, this will keep running costs down. To stay on track, you could try putting in place a maintenance timetable and have your equipment evaluated by a professional. 

Companies like Business West member, Regenerative Partners, can also work with you to look at your business in a more holistic way and help you decide on business equipment that will have not only the greatest impact in terms of saving costs, but will also benefit the wider ecosystem.

6. Educate yourself and your employees

One of the best ways businesses can become more energy efficient is to educate themselves about sustainable practices. We are running Aiming for Net Zero workshops designed for SMEs of all sizes who would like to learn more about how they can reduce their impact on the environment including advice on how to reduce energy usage. Our expert trainers explore key areas such as reducing carbon to help you progress your Net Zero journey. 

Since starting the Net Zero workshops in 2020, we’ve supported over 200 businesses to get started on their net zero journey. Find out more about these events here. The next Lunch and Learn workshop is taking place on 9th Feburary, focusing on Green Energy, where you’ll hear an interesting round-up of the current energy situation, and learn more about the more sustainable options of heat networks and heat pumps. You can book on here.

In Feburary, we’ll also be holding an Aiming for Net Zero workshop which will cover topics such as how much carbon your business emits and how to reduce it and how to incorporate Net Zero into business operations and planning.  You can book onto the event here.

Stay abreast of our upcoming events here. 

These sessions are free for Business West Chamber members. If you’re interested in becoming a member, click here.