Energy Efficiency is Essential for Today's Businesses

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From saving significant costs to contributing to the fight against climate change, sustainability is one of the most important factors in any modern business.

Nowadays, energy costs are at the top of the list for any business, large or small. However, consuming too much energy will drive up those costs by a lot – not only that but running a less-than-efficient business in terms of energy can affect your relationship with your employees and clients. It is more important than ever to mind our energy consumption, so read below to find out the main reasons for it.

Increasing reputation

As climate change becomes an increasingly more pressing issue, customers, stakeholders and suppliers are now paying more attention than ever to the green thumb of the companies they choose to collaborate with. Recent studies by Unilever have shown that 33% of their customers will base their buying decisions on whether the brand has shown real, valuable initiative in tackling climate issues.

Of course, a business can’t run without its employees, and most people nowadays will prefer to work for eco-friendly businesses. Not only is that a sign of increased awareness towards others’ wellbeing, but things like efficient heating and cooling, or efficient lighting in the office can have massive health benefits which would appeal to any employee.

Being recognised as an environmentally friendly brand will also help you stand out from your competition. Awards like Newsweek’s annual ranking of the most eco-friendly corporations around the world will boost your reputation with any potential clients and suppliers and help you build reliable, long-lasting relationships.

Reducing operational costs

This should be obvious, but the less energy you will utilise in your business, the less you will pay for it – helping your business make money should be a prime goal, right? Make sure to routinely check where your business uses up the most energy, and if that energy is truly necessary or can be reduced. For example, a lot of offices will keep the lights on in the hallways or in the restrooms for an entire day, even when they are not in use – the energy wasted on this could be reduced by simply replacing the lights with motion sensors ones.

Even more, you can replace the old incandescent bulbs with compact fluorescent bulbs, or even LED lights, as it can reduce your energy consumption by up to 75% (only in the case of LED lights, as they are the most efficient light source nowadays).

Sometimes, switching energy plans with another provider can also help you reduce costs and energy consumption. Do the research yourself or hire a business energy procurement company, in order to make sure the plan you select is the best fit for your business.

Having greener spaces, greener electrical equipment and lower operating costs will also increase the market value of your building, so why not make sure your business is as energy efficient as possible?

Compliance with the current law

Many countries nowadays have started to impose strict regulations in regard to energy consumption, emission of greenhouse gases or plastic waste, and making sure your business complies with your country’s respective laws should be a top priority. A lot of the time, the law requires your business to go through mandatory regular check-ups to make sure your energy consumption is within rates and that you keep up with the regulations.

The punishment for not abiding by these laws can fluctuate from a massive fine all the way to severe legal trouble – not only will it affect your business financially and legally, but your reputation will also suffer long-term effects.

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Peter CashmoreBusiness Expert & Reporter: Peter has been reporting about business trends and insights for several years and provides the best biz digs to keep business owners and workers informed and educated.