Beatrice Lang
Energy bills can be a significant expense for any business, but there are several ways to reduce electricity costs. From simple behavioural changes to larger infrastructure upgrades, businesses can cut costs and save money. This may include shifting operations to off-peak hours, when energy demand and prices are lower, or allowing employees to work remotely. Businesses can also invest in energy-efficient appliances and lighting, as well as renewable energy sources such as solar panels, to reduce their energy consumption and carbon footprint. Upgrading the building itself with better insulation and landscaping can also lead to significant energy savings.
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What You'll Learn
Shift operations to off-peak hours
Energy suppliers can charge higher prices when demand is higher. Therefore, shifting your operations to off-peak hours can help you save money on your electricity bills.
For example, the EmPOWERment rate structure by Blue Ridge Electric Cooperative has a peak charge based on your highest single hour of energy use in your billing cycle. Thus, using appliances during the 21 off-peak hours of the day instead of the three peak hours can help you save money. Peak hours vary seasonally, with afternoons from 3 to 6 p.m. being peak hours in the warmer months and mornings from 6 to 9 a.m. being peak hours in the winter.
Similarly, Hawaiian Electric has a Time-of-Use (TOU) rate that encourages customers to shift their energy use from high-demand evening and overnight hours to daytime, when solar energy is abundant and less expensive. The daytime rate is the lowest, while the evening peak rate is the highest.
You can also save money by shifting long-running, larger loads to off-peak hours. Heating and air conditioning systems are the most significant drivers of electricity costs, so lowering the temperature a few degrees in the winter peak hours and raising it during the summer peak hours will help you save money.
Additionally, consider work-from-home options for your employees. This can help reduce the overall energy consumption of your business, as employees can utilise natural light during the day and turn off their lights when not in use.
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Unplug devices when not in use
Unplugging devices when they are not in use is an effective way to save money on your electricity bill. Many devices continue to draw power when they are plugged in, even if they are not being used or charged. This is known as 'phantom power', 'vampire energy consumption', or 'background energy'.
Examples of devices that use phantom power include computers, TVs, speakers, kitchen appliances, and phone chargers. Phone chargers, in particular, are always using electricity when plugged in, regardless of whether they are charging a phone or not. While the amount of electricity used is usually very small for each individual charger, it can add up quickly if you have multiple chargers plugged in throughout your home.
To save money, get into the habit of unplugging any devices that are not in use. You can also use smart power plugs or smart power strips, which will automatically shut off power to devices when they are not in use. Alternatively, you can use extension cords with switches for each outlet and switch them off manually.
Another way to save money on your electricity bill is to shift your energy usage to off-peak hours. Energy suppliers can charge higher prices when demand is higher, so consider shifting your operations outside of the traditional 9-to-5 window if possible.
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Install solar panels
Solar panels are an effective way to save money on electricity bills. They collect sunlight and convert it into electricity, reducing your reliance on power purchased from an electric company. While the initial investment can be high, solar panels offer significant long-term savings by lowering your electricity costs.
The amount of money saved on electricity bills will vary based on several factors, including the size of the solar panel system, energy usage, electricity rates in your area, and the price paid for electricity. It is important to ensure that you have enough solar panels to meet your energy needs without incurring unnecessary extra costs. By generating your own electricity, you can avoid buying all your electricity from your provider, resulting in lower bills over time.
Net metering programs, offered by most electric companies, allow you to sell any excess electricity generated by your solar panels back to the utility company. This further reduces your electricity costs as you receive credits or compensation for the extra energy sent to the grid. Additionally, time-of-use plans and shifting your electricity usage to daylight hours can maximize savings by taking advantage of lower rates during off-peak hours.
To estimate the cost of installing solar panels, you can multiply the size of your desired system in watts by the average cost per watt in your area. On average, this comes out to $2.56/W in the United States. It is also worth considering the federal solar tax credit, which allows you to apply 30% of your solar system's cost as a credit to your federal tax bill, as well as local incentives that may be available.
Solar panels are more than just an environmentally friendly choice; they are a financially prudent one as well. By reducing your electricity bills and taking advantage of net metering and tax incentives, you can save a significant amount of money over the long lifetime of your solar panel system.
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Insulate the building
Insulation is an effective way to save money on electricity bills. Insulation helps to reduce heat transfer by trapping tiny air pockets. In the winter, it can keep warm air inside, and in the summer, it can stop hot air from coming inside. Insulation is rated by a grading system called an R-Value (Resistance). The higher the R-value, the more effective the material is at reducing heat flow.
There are many different types of insulation materials and methods of applying them. The right type of insulation depends on your specific needs, location, and R-value. For example, cellulose insulation is an eco-friendly, pest- and mold-resistant option made from recycled paper products, while fiberglass insulation is one of the most widely used materials for its affordability and fire resistance. Rigid foam boards, made from polystyrene, polyisocyanurate, or polyurethane, are ideal for foundation walls, concrete slabs, and exterior walls.
When insulating a building, it is important to ensure that all cracks and openings around windows, doors, electrical outlets, and recessed lighting are closed up, too. While it is possible to insulate and seal a building as a DIY project, it is recommended to hire a professional who can calculate exactly how much insulation is needed and what R-value is required.
By adding the appropriate insulation, homeowners can save an average of 15% on their electricity bills.
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Use energy-efficient appliances
Energy-efficient appliances are designed to use less electricity, helping you save money on your utility bills. The less electricity you use, the less you need to buy from your utility provider.
When shopping for new appliances, look for the Energy Star logo, a sky blue square with a white star, which is used to decorate the most efficient appliances. Energy Star is a program run by the US Environmental Protection Agency, designed to make it easy for consumers to select appliances that are affordable to run. Companies need to prove that their products meet certain efficiency standards to use the Energy Star logo on their appliances.
Energy Star-rated central air conditioners, for example, are at least 8% more efficient than new conventional models. Upgrading your fridge freezer to an Energy Star model can also cut down your energy bills significantly, saving you up to £580 over the lifetime of the product.
Modern energy-efficient dishwashers are also designed to use less water and energy than hand washing, especially when running a full load. An energy-efficient dishwasher uses around 3-4 gallons of water per load, while hand washing can use up to 27 gallons. Efficient dishwashers also come with air-dry settings, which reduce energy usage by allowing dishes to dry naturally, skipping the energy-intensive heat drying process.
Other examples of energy-efficient appliances include induction cooktops, which use 90% of the energy produced, compared to only 55% for a gas burner and 65% for traditional electric ranges. Sun (solar) ovens are another example of an energy-efficient cooking appliance, as they require no fuel to cook and can reach temperatures of 360°–400°F. They also allow you to cook outside of the home, which is beneficial during the summer months as indoor cooking raises indoor temperatures.
When purchasing new appliances, it is important to consider both the purchase price and the estimated energy use. In many cases, you may save money by buying a more expensive, more energy-efficient model.
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Frequently asked questions
There are several ways to save money on your electricity bill. Firstly, you can reduce your energy usage during peak hours, when energy usage is at its highest and prices are higher. Secondly, you can service and replace large appliances with energy-efficient counterparts to reduce energy drain and lower bills over time. Finally, you can consider switching to a renewable energy source, such as solar panels, which can reduce your energy bills and carbon footprint.
You can shift your operations outside of the traditional 9-5 window, encourage employees to power down or unplug devices when not in use, and maximize the use of natural light in the office.
Before purchasing or leasing office electronics, check if they are ENERGYSTAR-rated. ENERGYSTAR-rated appliances have been evaluated and deemed energy-efficient, which can help you save money and manage energy costs in the long run.
