Electricity prices keep climbing, and unless you're on a fixed rate plan that hasn't expired or come up for renewal in 2022, you've seen that jump on your electricity bill and felt it in your bottom line.
Added to the increase in price, this summer is already breaking heat records - and we're only halfway through July.
We've put together a few timely reminders for ways to save money on electricity right now and in the future.
NOW
1. Energy efficiency audit
Have a professional come through your space and tell you where you can improve your energy savings. They'll check the machines and appliances in your space, your building insulation, measure any leakage from your windows and doors, and give you a written report on where you can make changes to lower your electricity usage. It's worth every penny!
2. Behavioral Changes
At home, when we leave a room we turn the lights off. At work, we tend to leave them on. Lights not only use electricity, but they also emit heat. Enough lights on will have your HVAC system working harder to keep the building cool. Turning the lights out when you leave a room is a small behavioral change with a positive snowball effect!
Some other behavioral shifts with potentially large impacts;
When the morning shift arrives, do they need to turn on all the equipment right away?
Does the A/C need to be set at 71 degrees? Can it be set at 73 degrees instead?
Can a programmable thermostat save the HVAC system from running all night when no one is there?
FUTURE
3. Peak demand consumption analysis
Peak demand times are usually 7am to 10pm on weekdays and can be further defined depending upon geographic location and climate. The demand, and therefore cost, is often higher for electricity during peak times, and operations outside of these times could lower your electricity bill significantly.
Does your business works in shifts?
Can work be split into additional shifts?
Can part of your business operate during off-peak hours?
If you have to pay a higher hourly rate for a graveyard shift, will that offset the electricity savings enough to make the changes worthwhile?
Your utility company should be able to provide this information to you and even help with your analysis.
While you're speaking with your utility company...
4. Rate plan/Utility company audit
Many companies end up rolling onto a plan that's not well suited for their consumption because analyzing their bills keeps rolling down their list of things to do, and understandably so.
Schedule some time to really take a look at that bill and compare it to a bill from the same period of time last year. What's changed? Has the bill increased? Has the rate increased? What has changed in the scope of business that could help make sense of the changes?
For a more comprehensive list, peruse our 'Watts' Affecting My Business blog post!
Then call your utility company and ask them to analyze your bill and match you with the best plan they offer for your consumption.
A few hours of your time will pay off in savings!
5. Reduce base load
Unplug those appliances and machines that aren't being used! You'll be surprised at how much electricity is lost to a "phantom load" or "vampire energy".
Also, consider running large-load electronics one at a time. A consistent demand for electricity is more desirable than usage full of highs and lows. Companies that provide electricity will look at the peak usage of electricity for your space and ensure their plan will meet that need, which may mean you will pay more for the privilege of being able to run all of your equipment at once on the same system - even if that's not your modus operandi anymore.
6. Battery storage
Pairing battery storage with a renewable energy resource does more than give you backup during power outages, storms, etc. It can also allow you to store electricity you make during off-peak hours and use it during peak demand, reducing the amount of high-rate electricity you use and pay for.
Reducing electricity usage is key to saving money on electricity right now, and paying less for the electricity you're using is key for saving money in the future.
Photo credited to DepositPhotos.com
