Thursday, April 15, 2021

How to Save Money for Businesses: Potent and Simple Steps to Investing on Energy Efficient Equipment

Save Money for Businesses

Finding a way to reduce expenses is a must during this difficult time. With rising prices and a
crashing economy, it can be rather difficult to balance one’s financial situation. This is especially true for businesses who wish to stay afloat during the COVID-19 pandemic. It is unavoidable that businesses will have to make a few sacrifices. Sales might even go down during this period. However, the pandemic does bring an opportunity to businesses that need change to their workplace.

The placing of social distancing and strict laws due to the pandemic gives businesses the time to plan any renovations to their office. Whether it be changing the floorplan or changing the ventilation system, the lack of people within buildings is the perfect time to make some changes. It won’t disrupt the usual workflow, and you can also avoid any workplace hazards that can put your employees at risk.

Admittedly though, it can be difficult to plan any changes for the business. After all, business owners would prioritize reducing any expenses during the pandemic so the business can last longer. In this case, any investments that a business owner should make must be based on two things: cost and energy efficiency.

Why consider Energy Efficiency as part of workplace renovations?

Energy efficiency can go a long way. Adequate understanding about this topic can help the business break even and be more sustainable once normal operations resume. Energy efficiency also has the advantage of reducing future energy-related bills by saving energy in wise yet effective methods. It helps the environment by reducing carbon emissions and helps to give the business a good reputation for prospective clients.

There is also the fact that the government encourages businesses to invest in energy-efficient plants and machinery. Investing in the aforementioned equipment can be backed up by an Enhanced Capital Allowance claim, which can help save the business from spending too much. The ECA claim can go as high as recouping 40% of the cost of installment through a reduction of a business’ tax bill. There are specialized organizations, such as Sovpsl, that can help businesses get through this process.

Tips to investing in the right Energy Efficient Equipment for the business

Of course, all this talk of energy efficiency can be easier said than done. There are many things to consider when it comes to energy-saving equipment, and choosing the right one can seem rather difficult. As such, here are a few things to consider when you invest in energy-efficient equipment.

1. Lighting

While air conditioning and other appliances contribute the most to a business’ electrical bills, lighting is still one factor that can bloat up your electrical bills. Lights left open on unmanned places can accumulate expenses overtime on top of other expenses. Outdated light bulbs also use more energy than modern light bulbs, and are susceptible to “burnouts”. It is a great idea to consider this factor as you go forward to making some energy-efficient changes in the business.

For this particular section, it will be a good investment to use LEDs or CFLs to save energy. A compatible dimming technology, while expensive, can be good for the business in the long run. Implement disciplinary laws, like turning off the lights when not needed, can also be used to reduce energy costs.

Save Money for Businesses

2.  Air Conditioning

Ventilation inside the business is also an important factor when it comes to saving energy. Any air conditioning units, such as heaters and coolers, use up a lot of energy over time. This is especially true for older models that put functionality over efficiency. If any renovations to the business must be considered, air conditioning must be the first aspect to consider. It is one of the equipments provided in the ETL.

If you do not wish to change your air conditioning or ventilation units, then it is best to keep them clean. Any dust or particles can clog up the units which force them to use more power to blow more air out. Fixing any leaks in air ducts, replacing defective equipment insulation, and such must also be done in this period.

If you do wish to replace your air conditioning units, it is better to buy a unit that has a higher energy efficient ratio than the previous one. This helps to reduce operating costs for the life of the unit while performing as well, if not better, as the previous one.

3. Office Equipment

This section is often the biggest offender when it comes to bloating a business’ operating bills. The continuous operations of office equipment can accumulate a bill larger than the lighting equipment and air conditioning units combined. The best way to conserve energy for office equipment is to simply turn them off when not in use. Allow the equipment to enter power saver mode if possible, so it can use less power during its idle operations.

For actual renovations or installments in terms of the business building’s electrical system, it is recommended to install plug load controllers in cubicles. This allows automated shut down of inactive equipment if the cubicle is empty. Installing an energy audit can give you a clear outline of which energy is being used, and this allows you to handle them more effectively.

If you do plan to replace the office equipment, then it is better to look for energy-efficient equipment. A recommendation from various sources is to invest in equipment that has been ENERGY STAR-rated.

 

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