5 Ways to Reduce Your Business Energy Bills

Rising global energy prices are a worry for all business owners. When the cost of your predicted annual bill doubles overnight, that’s likely to stretch your cash flow extremely thin.

So, what can you do to overcome the problem of soaring electricity and gas prices?

We’ve outlined five simple ways to reduce your energy bills.

Simple ways to reduce the impact of the energy crisis

The most obvious way to mitigate the energy crisis is to reduce your energy usage, whether working from commercial premises or at home.

With prices skyrocketing, reducing your energy consumption makes good sense and can help lower your annual bill. As a bonus, reducing your energy consumption also makes your business more sustainable, energy-conscious, and a better global citizen.

Here are five ideas for bringing down your energy usage:

Properly insulate your buildings.

You need to be sensible about heating and cooling your workspaces during the hot or cold months of the year. Using heating and air conditioning (air-con) 24/7 can be expensive, so it’s a good move to properly insulate your workspaces. If your rooms stay warmer in winter and don’t overheat in summer, your heating and air conditioning won’t be working as hard, reducing your energy spend

Use energy-efficient bulbs.

Lighting is another essential overhead, but also an area where smart wins can be made. Use energy-efficient light bulbs that use less power. Don’t leave exterior lights on after business hours. Install sensors in offices, meeting rooms, and workshop spaces that automatically turn off the lights when the room is unoccupied. These are small actions that can help reduce your bill quickly.

Switch to energy-efficient equipment and technology.

The business tech we use is gradually becoming greener and more energy-efficient. Review your business's leading electrical equipment and determine how much energy could be saved by upgrading to updated, energy-efficient technology. With so many pieces of equipment always plugged in and turned on, having tech with low-power modes and automatic standby modes can greatly reduce your energy consumption.

Consider using renewable energy.

One way to escape the monopoly of your energy provider is to provide your own off-grid power. Climate change is an ever-growing problem, so switching to renewable energy not only gives you an independent power supply but also reduces your carbon footprint. Think about solar panels on your roof, a wind turbine on your land, or hydroelectric if you are lucky enough to have a river passing through your property. Some local authorities may even provide funding or grants to help you switch to solar or other renewable energy sources.

Shop around for the most affordable energy provider.

Finding the most cost-effective energy provider can go a long way toward bringing down your bills. Prices are obviously rising across the sector, but be sure to check out the deals being offered by other energy providers and shop around to find the best value. It’s also worth looking for providers that have committed to using more renewable energy and want to reduce their reliance on coal and gas. Moving away from fossil fuels helps combat climate change, but also reduces energy providers’ reliance on gas and the associated high prices we’re currently paying.

Let's discuss reviewing your energy usage.

Energy prices are likely to remain unstable for some time, so it’s essential to closely monitor your energy expenses and their overall impact on your finances.

Contact us today, and as your accountant, we’ll help you track your electricity and gas costs as key metrics in your accounting software dashboard. We’ll also help you develop an energy reduction strategy that reduces your expenses and stabilises your cash flow.