Energy costs continue to be a concern for businesses, especially energy-intensive industries like manufacturing. While businesses can’t control utility rates, they can take steps to improve energy efficiency and reduce operating costs.
Here are some practical ways businesses can reduce energy costs:
Invest in Energy-Efficient Technology
Upgrading outdated equipment and systems can help reduce energy consumption over time. Consider energy-efficient lighting, HVAC systems, motors, production equipment and building automation systems. When replacing equipment, look beyond the upfront cost and consider long-term energy savings.
Conduct an Energy Audit
An energy audit can help identify where your business is using the most energy and where improvements could make the biggest impact. Audits can uncover opportunities related to lighting, HVAC, insulation, equipment, compressed air and energy management.
Reduce Energy Waste
Simple operational changes can also add up. Turn off equipment when it’s not being used, adjust thermostats, address air leaks, maintain equipment and use automated lighting or energy management systems when appropriate. Employee awareness can also play an important role in reducing unnecessary energy use.
Explore Alternative Energy Sources
Depending on your facility and operations, renewable energy options such as solar, battery storage, geothermal and combined heat and power (CHP) may help reduce long-term energy costs. Businesses should evaluate the potential costs, savings and return on investment before moving forward.
Take Advantage of Incentives
Pennsylvania businesses may qualify for grants, loans and other programs designed to support energy efficiency and energy-related improvements. Programs and eligibility requirements can change, so be sure to check current opportunities before starting a project.
The MBA can also help connect your business with resources and opportunities that may be available to you.
The bottom line: Reducing energy costs doesn’t have to mean making a major investment all at once. Start by identifying where your business uses the most energy, prioritize opportunities based on potential savings and look for available incentives to help offset project costs.
Want to explore ways to manage your business’s energy costs? Contact The MBA’s Energy Advisor, Judy Rosatti.