How Can A Business Save Utility Costs?

With rising competition, it has become absolutely necessary for businesses to save their costs so that they can add value to their business and provide the benefit of lower costs to their customers by lowering the prices or increasing their profit margins.

When we talk about utilities, it covers all the expenses which are related to the electricity being provided to the business, the water provision services, heating and cooling services, etc. These tend to make a huge portion of the entire budget of one particular year for any business.

A business cannot avoid utility costs no matter how hard they try, be it a small-sized business or a large-sized business. So, listed below are some ways through which businesses can efficiently save utility costs.

Using smart or modern plugs:

As the world has become more modern, so have the plugs. Instead of installing outdated plugs, businesses must match the pace of the advanced world and install smart plugs instead. These plugs help in reducing utility costs in several ways.

If you're using an electrical appliance such as air conditioning, television, or a photocopier, the smart plug would automatically turn off the device as soon as you're done using it. There will be minimal wastage of energy at any point.

The same goes for any appliance or device through which you obtain water, gas, or heating services. This not only saves your money and time but also impacts the environment positively.

Using LED lights

Every LED light uses only one-tenth of the total energy that is consumed by fluorescent bulbs or tube lights. This is why they are more efficient to use in the office area as well. It can help in reducing the electricity cost to a great extent.

They are more efficient in nature because fluorescent bulbs tend to waste and drain the energy that is supplied to them. Another reason is the constant need to replace the fluorescent bulbs. These have to be changed because they get damaged really easily, and it can lead to higher costs.

On the other hand, LED lights do not have to be changed that frequently. So, it also helps reduce the wastage element and proves to be good for the environment. It is also more sustainable for the long term, keeping in mind the business electricity rates.

Changing Kitchen Appliances

Every business has a kitchen and dishes that need cleaning. Under the head of utilities, we also have the water supply cost. So, a smart move from your end would be to reduce the water cost by installing a dishwasher.

Dishwashers use a limited amount of water to clean the cutlery and other utensils. According to research, these tend to use 50% less water than washing the dishes, cutlery, or utensils by hand. We cannot be that careful while washing dishes by hand, and at times, we even leave the tap open. All of this carelessness is what can be avoided by using a dishwasher.

Efficient Energy Providers

As the world is becoming more advanced, we have noticed a shift towards the use of renewable energy sources. Solar panels can really help a business reduce its cost in the long run.

Yes, in the short run, the investment might put a burden on a budget of the year, but it is important for us to keep in mind that we are there for the long run. In the long run, using solar panels, you can even be an energy provider yourself.

This would reduce your cost to a great extent and prove to be extremely useful for you. You can use photovoltaic cells for this purpose as well, and it would also be extremely helpful for the environment as well.

Flexible Employees

Our employees tend to create utility expenses for us. If we tackle the root cost of high utility costs in such a way that our employees are allowed to work part-time as well, then we can save a lot of utility costs from the bills.

They would not be in the office for too long, which would mean lower electricity consumption, water consumption, heating, cooling, etc. However, offering flexible working hours might not be suitable for every business.

This is because not every business can allow their employees to work while they are out of sight of the manager. Many production companies have to work on sight as most of their work is field related.

Assessing Energy Providers

Your business might be engaged with one particular supplier who supplies you electricity while another provides you with water etc. These relationships are important for every business. However, at times, we fail to understand that several other suppliers, with time, have a better pitch to offer to businesses.

Supply of energy is made on the basis of long-term contracts, and in order to attract you to their business, suppliers out there would be ready to make changes for you and even lower the rates for you.

So, after every 12 months, you must assess other players in the market and allow yourself to give them a chance. Chances are, if you get lower rates, your current suppliers will reduce their rates for you as well.

Concept of Hibernation

In case you didn't know, when you leave your laptops or other working devices of similar nature in hibernation, not only would you be able to save your work and continue from your left, but you also would be able to save energy because your laptops and other working devices of similar nature would not be using that much of energy.  

This is a very smart move and a very small one which all the employees can take on their end as well without any hassle.

Minimal Wastage

If we talk about it on a level as small as using paper only when it is needed, then you can save a lot of energy. If you only use photocopying machines or printers only when they are required or make sure that you do not photocopy or print anything when it is not necessary, then you can again save not only energy but also paper. Paper is one of those commodities which get wasted a lot due to our own carelessness.

Listed above are all the remedies that businesses can take if they want to make sure that they do not get shocked after seeing their utility bills. The utility bills stand in no comparison when compared between businesses and domestic users. So it is important to be efficient.