How to Lower Your Business’s Electricity Costs With These Overlooked Methods

Running a business comes with many overhead costs, and electricity is a major one. However, there are several effective yet overlooked ways that I have used to significantly reduce my business's electricity expenses. In this comprehensive guide, I will share key methods to lower your business's electricity costs without negatively impacting operations.

Conduct an Electricity Audit

The first step is to conduct a thorough electricity audit for your business. This involves:

Analyze Your Electricity Usage

Identify Your Peak Usage Times

Find Areas of Waste and Inefficiency

Upgrade to Energy Efficient Technology

Upgrading to energy efficient technology can reduce electricity usage and lower utility bills. Consider:

Energy Efficient Lighting

HVAC and Insulation Improvements

Energy Efficient Equipment

Change Employee Behavior Around Electricity

Simple changes to employee behavior can also reduce electricity waste and expenses:

Turn Off Lights and Devices When Not in Use

Optimize Use of High Electricity Equipment

Report Electricity Waste

Incentivize Conservation

Install Solar Panels

Installing solar panels allows businesses to generate their own electricity and significantly reduce utility costs. Options include:

Use Electricity Suppliers With Lower Rates

Some additional ways to reduce electricity supply costs include:

Tap Into Electricity Subsidies and Rebates

Many utilities and governments offer programs with rebates, subsidies and incentives to help businesses install electricity-saving technology and reduce usage. Be sure to take advantage of these to improve cost savings.

The key is taking a holistic approach across all of these areas - an electricity audit, equipment upgrades,solar panels, employee engagement, rate comparisons - to maximize electricity reductions for your business. Using these overlooked methods, I have been able to decrease my business's electricity costs by over 30% while maintaining excellent operations. They offer practical ways to significantly lower your overhead expenses too.