5 Ways Startups Can Reduce Energy Costs

SMEs or startups incur enormous energy costs every year. According to a source, the average yearly energy bill for a medium-sized business is £3,146. Owners investing their savings in bringing up the company might find this minimum cost challenging to bear.

Small business loans can enable such enterprise owners to recover from such costs. However, they might come at specific monthly repayment and interest rates. On the other hand, large businesses have started understanding the value of energy-efficient investments.

The money saved from making these changes helps create emergency funds, recover during uncertain times, or manage cash flow problems. A few ways include utilizing the right office equipment, find better renewable contracts, guide the workforce, etc.

Reduce Yearly Energy Bills with These Five Methods

● Find the Energy Supplier

Before opening a new office, find the energy supplier and check for all connections to the office. After researching, the company negotiates on the deemed or steady rates based on the previous enterprise.

As a business owner, it is necessary to know that the ongoing rates remain the second-highest tariff. Therefore, if it doesn’t fit the budget, it is essential to avoid leasing or renting the premises.

Optionally, both existing and owners on the verge of occupying can find the right energy supplier available in the vicinity on comparison websites. This step will help to save a lot on the energy bills and avoid unscrupulous charges.

● Use Energy Reducing Solutions

According to a source, LED bulbs to save 25-30 per cent of energy bills. Therefore, the first step would include checking the office energy equipment and replacing the required ones to save or reduce solutions.

Startups should actively switch off unused office equipment for saving hefty pounds on yearly energy bills. According to Smarter Business, thirty per cent of power consumption can get reduced by using standby mode.

Businesses can even utilize the best energy-saving hacks. A few of them include programming the thermostat, shifting equipment running time to non-peak time, using natural sunlight, etc.

● Regularly Switch Energy Renewals

Most UK businesses increase incurs thirty per cent higher tariffs than the previous year if they continue with the same supplier. Owners must therefore consider comparing energy suppliers, read client experiences, and find cheaper suppliers.

Additionally, new startup owners must schedule the contract renewal date reminder on their calendar to avoid auto-renewal, if not required. As mentioned earlier, money saved from the power tariffs can increase revenue, boost emergency funds, and other purposes.

Business owners must remember that switching contracts isn’t a difficult task. It is an easier decision because gas and electricity will remain commodities for the organization. Moreover, the deals incur no loss of power, and therefore, the suppliers provide the legwork.

● Encourage People to Provide Energy-Efficient Solutions

Every person working at the organization wants to perform the best and participate in events. Encourage the employees to develop energy-efficient solutions—reward candidates with gifts, coupons, vouchers, etc.

Publish the details in a PR and share it with global environment-saving organizations as an initiative and the clients. It will entice other customers, clients, and employees to connect with the organization on different levels and platforms.

Post-publication boost it as a Corporate Social Responsibility or CSR with various communities. These practices will lower long-term energy costs, encourage people to share more energy-saving ideas, and bring the organization into the limelight.

● Initiate Remote Working Policy

Remote working has become tremendously popular, especially during the pandemic. Providing a small working policy to employees helps increase efficiency, deliver better results, and save on overall organizational bills.

For example, startups can hire remote employees and no longer require a premise for managing separate desks. Optionally, owners can use co-working space that diminishes costs significantly. They charge only for using assumptions, especially boardrooms, meeting rooms, etc.

Companies can incur a significant drop in energy bills by initiating a remote working policy. Moreover, a person can become available instantly. Therefore, the benefit of working from home would provide a win-win outcome to the company and the workforce.

● Other Practices

Making use of surge protectors can also help to avoid wasting energy. Often offices equipment keeps running even during non-working hours. However, using a power surge can turn off the enterprise’s life and help prevent mis-happenings like fire, shock, etc.

Another efficient method of reducing energy bills is to inform the staff to unplug unused equipment. It also helps to avoid over-charging, short-circuits, or to heat the devices or plugs. Moreover, energy usage remains maximum during peak hours.

Most offices have timings between 9 a.m. to 5 p.m. Therefore, businesses can save energy during this time by incorporating staggering hours. Running heavy equipment during non-peak hours can also save costs.

Besides this, offices should regularly conduct an power audit. Numerous electricity companies offer these at no cost. Contact the local utility company instead of the power supplier to avail of a free audit. The professional can guide on more energy-efficient solutions.

Before replacing or buying new office equipment, check the type of rating they have. Don’t compromise for a cheaper solution. Small businesses can save a lot of energy cost by investing in better equipment.

Businesses have even started opting for power-saving solutions outside the building. SMEs can start planting trees if the landscaping belongs to the company. In the long-term, it will help to manage the heating and cooling around the office.

Similarly, alerting the staff of power-saving practices can save between a few pounds annually. The policies could include shutting down the devices, switching off unused lights, avoiding phantom energy during peak hours, etc.

The best way to bring alertness among the workforce is through competitions. Conclusively, all organizations can save power in many different ways and even brand promotion practices.