Energy Reduction Solutions Are Vital to Shielding Yourself from a Volatile Energy Market
Does your company have an energy strategy in place? Do you have a way to shield your New York City property from rising energy costs or an unreliable energy grid? Energy shouldn’t become an afterthought in your overall business strategy. You should start thinking now about ways to reduce your general energy use.
A proactive strategy that incorporates green energy solutions and building renovations will make it easier for you to navigate a volatile energy market. This blog highlights why it’s important to develop a plan for immediate energy reduction, some common improvements to consider, and even some advice on how to fund these measures.
SEE MORE: Energy-as-a-Service: A Flexible Funding Model for Efficiency Upgrades
Why Now is the Time to Reconsider Your Energy Strategy
The rise of energy costs is perhaps the biggest reason that energy reduction measures must be top of mind. Stories of European businesses facing exponentially higher energy bills (prices in the UK have gone up by more than 150%) should be a warning to US properties. High inflation has come on the heels of these rising costs over the past year–significantly upping most property’s overhead costs.
These rising costs are already causing enough issues, but the US also faces additional concerns. For example, labor disruptions and supply chains are slowing business, while extreme weather is creating an increasingly unreliable energy grid throughout the country.
How to Improve Your Energy Efficiency
The good news is that there are steps, both small and large, that you can take to reduce your reliance on the energy grid. First, start small with improved insulation for the roof and windows to ease the strain on your HVAC when cooling or heating your property.
Next, look at an overall optimization of your existing HVAC system, as this is where the brunt of your energy use goes. This includes upgrading boilers and chillers as well as full building electrification to reduce your use of fossil fuels.
The last step–and the most beneficial in the long term–is embracing green energy solutions. Meet local and national energy compliance goals and reduce your reliance on the energy grid by switching to renewable energy. This will require on-site power generation, often in the form of solar energy, though there are hydropower, wind or geothermal options as well in some areas.
How to Finance Your Energy Efficiency Upgrades
You don’t need a lot of excess capital on hand to deal with these upgrades. Depending on your upgrades and where you live, there are a lot of financing options. For example, many local municipalities offer grants and tax incentives for green energy solutions and HVAC upgrades. Additionally, you can go to financial institutions to get a loan to help with these improvements. Over time, these reduced consumption initiatives also generate savings to help pay for some of these upgrades.
How can you take the first step towards a better energy outlook for your business? Our team of experts will do a physical plant assessment so we can isolate your unique pain points and identify key improvement opportunities. Schedule an assessment with our team by calling or filling out our contact form.