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Whether it’s gas, water, or electricity, reducing your energy bills means more money to spend on other aspects of your business operations.
We’ve put together ten ways to substantially slash your energy costs across all aspects of your business.
There are lots of different exemption and grant schemes on offer that you can take advantage of. The Government website has a list of all the funding opportunities available, and your local authority may also have schemes of its own.
If you operate in an energy-intensive industry like chemical or ceramics production, you may be eligible for the EII Renewables Levy Exemption Scheme. This exemption scheme offsets the levies you would otherwise pay to fund renewable energy programmes.
Find out more about the energy efficiency grants available for manufacturers.
Energy monitoring tools can help you visualise your energy usage and see which parts of your business use the most resources. You can then take steps to reduce your energy use and become more efficient.
If you switch energy through us, you get immediate access to our energy monitoring platform alongside a dedicated energy manager who will review your data and make recommendations.
Changing gas, electricity, and water providers is one of the easiest ways to save money. However, it’s essential to do your research. There are a wide range of energy providers out there and an even wider range of tariffs.
You don’t want to get locked into a deal that isn’t right for your needs.
You can save time and increase the number of tariffs open to you by working with an energy procurement provider. A provider will compare tariffs on your behalf and identify the one that benefits you most, both now and in the future.
Not sure which type of contract is right for you? Check out our energy procurement guide.
Forecasting in business is vital. You need to be aware of the upcoming changes in your industry, as well as consumer trends, to ensure you don’t get left behind.
It’s equally as important to plan ahead when it comes to changes in the energy sector to know what is happening and how it might affect your business.
For example, the new Labour Government has lifted the ban on onshore wind farms, which will make renewable energy accessible to more businesses than before.
Reliable, trustworthy sources of information include the Department for Energy Security and Net Zero, the National Grid, and Ofgem.
A demand response programme is when an energy company asks businesses to use less energy at busy times in exchange for lower bills and other benefits. This can be a great way to reduce costs, as well as think about how your business consumes energy.
Let’s say you run a manufacturing plant. You could take advantage of a demand response programme by shifting production to off-peak times or using batteries to store electricity to use during working hours.
If your equipment and lighting are coming to the end of their life, it’s worth replacing them with energy-efficient alternatives. Not only does this lower your energy bills, but higher-quality equipment and lighting can also lead to increased productivity.
Upgrading HVAC equipment can reduce your energy use by up to 50%.
Good insulation keeps the heat in your building, meaning you spend less money trying to keep it warm. This can reduce your heating needs by up to 50%, leading to substantial savings.
Insulation can also improve your energy performance, helping you achieve stricter Energy Performance Certificate standards.
An additional benefit of ensuring your building is well-insulated is that you reduce noise, meaning a more pleasant working environment.
More businesses than ever before are generating their own energy, whether that’s through solar panels, biomass, or wind turbines. By installing solar panels, you can break even on installation costs in as little as four years.
Another benefit of generating your own energy is that you can sell any surplus back to your energy provider, meaning additional revenue.
If you want to install on-site energy solutions, it’s essential to carry out a feasibility study first. This study will identify which solution is right for you and where to install it for maximum effect.
If you have over 250 employees, £36m turnover, or £18m of balance sheet assets, you must report your carbon emissions under The Streamlined Energy and Carbon Reporting Scheme (SECR).
Even if you’re exempt, you might have to provide reporting if you supply goods or services to relevant businesses. And as we get ever closer to the Net Zero deadline, there is the chance that all businesses, regardless of size, will need to provide these metrics.
While reporting on your emissions may seem like an administrative headache, there are advantages. Monitoring and reporting on your carbon footprint means you can see what you can do to become not just more sustainable, but save money too.
For example, you might identify that you generate most of your emissions during production, giving you a clear signal to replace outdated machinery or minimise waste generation.
Many people leave laptops, computers, and printers on standby overnight. While these don’t drain a lot of energy, costs can quickly add up if enough employees do it.
According to Which, leaving a laptop plugged in and turned on all the time costs £6.22 a year. Another disadvantage of doing this is that it can damage your laptop battery, meaning your laptop becomes far less efficient.
The best way to reduce out of hours energy use? Encourage employees to switch off and unplug equipment at the end of the day.
You can also use software to manage your computers and laptops, turning them off after a set period of inactivity or at a particular time of day.
As you can see, there are lots of different ways you can substantially reduce your energy costs. However, it can take substantial time and resources to implement these changes.
At Tritility, we’ll help you take control of your energy bills. Our team of specialists will monitor your gas, electricity, and water usage, suggesting changes that bring optimal results, leaving you free to manage your business.
We implemented an energy monitoring system for Swire Energy Services, helping them identify quick wins they could make within the business. As a result, they saved £300,000 in a year.
Want to see how we can help your business save money and become more sustainable? Get in touch today.