7 Things About Energy Efficiency Your Boss Wants To Know
We have all reached the end of the month and check our energy bills just to find unpleasant surprises. As homeowners do, sometimes businesses do as well!One of the negative values in the cash flow of a business is related to electricity costs. Especially, if the business constantly requires machinery to manufacture products or that constantly demands to freeze or to heat food or products.
The best way to contribute with a sustainable solution and add a positive value to your cash flow is to increase the energy efficiency of your business!
If you are having meetings with your teamwork and ideas come out in how to save money and help the environment, be the first to jump into the sustainable way of thinking with these 7 energy efficiency facts!
Solar and wind power are the cheapest forms of energy available in the US.
One of the best ways to measure the cost of an energy source is to use the levelized cost of electricity in $/MWh.
This economic tool allows policymakers and project developers to quantify the ups and downs of energy prices.
One of the most reliable sources of information to quantify these numbers is Lazard’s LCOE analysis. The last research made in 2018 showed that at utility scale without any subsidy, sustainable energy sources like wind and solar energy were already cheaper than coal, nuclear, gas peaking and in some cases cheaper than gas combined cycles.
For instance, solar PV prices range from $40/MWh to $46/MWh and wind prices range from $29/MWh to $56/MWh. On the other hand, gas peaking ranges from $152 to $206/MWh, coal ranges between $60-$143/MWh and finally gas combined cycle plants range from $41-$74/MWh.
As you can see, renewables lead the way in sustainability and economic feasibility as well.
Energy efficiency is needed to avoid climate change consequences before 2030
The Fourth National Climate Assessment 2018 is a comprehensive report on climate change that focuses on addressing its impacts across the US.
The report revealed that floods, droughts, hurricanes, wildfires, and other phenomena are already affecting many regions across the US. However, the intensity and frequency of these natural disasters are estimated to increase rapidly with terrible consequences for the US population unless carbon dioxide emissions from the energy industry are reduced by 45% by 2030.
Also, the report establishes a due date for 2050 where all carbon emissions from this sector should be avoided. Therefore, developing a sustainable energy mix for America is essential.
Energy efficiency is definitely an important factor that helps to address this topic constantly. Every optimization that is made in an electrical or HVAC system or every switch that is made to an electrical device that uses energy in a smart way, reduces energy losses and contributes to generating less carbon dioxide at the same time.
Energy-efficiency leads to savings every year!
Energy Star appliances are the most efficient available in the market certified by government agencies. Purchasing these devices for your home, office or business reduce the consumption of electricity when compared to other appliances.
One of the energy efficiency facts that could catch your attention is that by reducing energy consumption through Energy Star appliances purchases, people with homes located in States with high electricity rates such as Hawaii can save up to $500 annually.
While if you focus on the commercial sector, the Energy Star program for commercial buildings helped businesses to save nearly $10 billion in energy costs only in 2016!
When you evaluate the economic benefits of energy efficiency on the long-term, you may realize that the investment is totally worth it.
Energy-efficient sector creates an average of 1.9 million jobs only in America
One of the most interesting energy efficiency facts is that according to a report made in 2016 from the E4TheFuture organization, surveys made to nearly 165,000 US companies that are involved in the energy efficiency sector, estimates that 245,000 jobs were additionally created in 2017 for this sector.
This represents a growth of 13% when compared to the previous year and it has been concluded that states like California, Florida, Massachusetts, Illinois, Texas, and Pennsylvania rank first among the states where further development has been made in job creation. All of this accelerates the US economy.
The best time for energy efficiency is now
Small and medium-size businesses can improve their energy efficiency and receive a great incentive to do so.
Federal and state governments, as well as utility companies, realize the importance of this concept and are willing to cover between 40-70% of the total cost of an energy efficiency upgrade that you make on your business.
However, these programs have due dates and as energy efficiency becomes more common and funds for these programs run out, then the financial advantages will become less attractive. Choose to improve your energy efficiency now when it’s the best time to do so!
To get more details related to rebates and other incentives you can visit the DSIRE website
The technologic trend is towards energy efficiency
Gas and electricity are essential for the American society, however, expenses related to these two elements can have an important impact as many Americans struggle to afford energy bills.
According to a poll made from the North Carolina Energy Efficiency for All, 43% of people making less than $40,000 a year say that they cut expenses in education or health to pay for energy bills. Based on this fact, many homes and business owners are motivated to invest in energy efficiency to reduce energy costs.
Moreover, the development of new technologies also take this fact into account and so, many companies manufacture energy efficient products like smart home devices, grid-interactive devices and electronic appliances related to the Internet of Things that optimize the energy consumption.
Therefore, the world and America is moving towards increasing energy efficiency in our businesses and daily lives to reduce energy costs and help the environment. The sooner you and your business get related to it, the more profits and benefits you will obtain from it.
Going green is good for business
One of the markets where environmental conscience matters the most is in the US.
If your company is energy efficient and obtains a green business certification, then your business can attract green consumers to your store or local office. This could open a new market for your business and could give you a plus in reputation and brand image that other companies might not have.
As you can see, the problem with end-of-month electricity bills can only be solved if you take action for your business into promoting energy efficiency and using lower cost but remarkable energy sources like solar and wind energy.
In the State of New York, there are many energy supplies available, but you need to find the best energy supplier for small business to help you switch to a renewable energy source and to help you understand all the flaws that may exist in your energy consumption.
You simply need to request a 10-minute meeting with one of Phoenix Energy gurus and you will learn how to can improve your energy efficiency and help your business going green!