Does your business have an energy plan? Energy is one of the biggest expenses for most organizations. An effective energy strategy helps reduce costs, improve cash flow, and support long-term sustainability goals. Developing a solid energy strategy is important for businesses of all sizes. For some, energy costs are a major expense on the income statement. For others, improving sustainability and reducing environmental impact is a top priority. This guide, created by our energy professionals, outlines key steps to build a strong and practical energy plan for your business.
Why an Energy Strategy Is Important for Your Company?
Having an energy plan is essential for every business. A well-thought-out strategy helps you save money, operate efficiently, and reach your sustainability goals. Each business may have different priorities, but the common benefits of an energy strategy include:
Cost Projections/Savings
Having a solid energy financial plan is essential for reducing expenses and increasing profits for your organization. Simply paying less for energy is not enough to maximize savings. An energy efficiency plan enables you to strategically plan future projects, estimate potential returns, and even forecast long-term profitability, helping your business make smarter financial and operational decisions.
Environmental Impact and ESG
Environmental Impact and ESG are becoming key priorities for many organizations aiming to reduce their carbon footprint and improve their ESG scores. Achieving these goals is difficult without a well-planned energy strategy. Initiatives like commercial solar installations, optimizing building automation systems, and purchasing renewable energy supplies can significantly reduce a company’s environmental impact while supporting sustainability and corporate responsibility objectives.
Better Electricity Supply Rates
Better electricity supply rates are another important benefit of an energy efficiency plan. By reducing peak demand, especially during summer months, businesses can lower their total supply costs, including capacity charges. However, securing these savings depends on choosing the right electricity plan. Working with an energy broker can help you identify the best plan and take full advantage of supply-side energy efficiency opportunities.
How To Develop Your Business Energy Plan?
Simply trying to use less energy by turning off light switches and managing HVAC thermostats is not enough to have a significant impact on your business energy bills. Here is a step-by-step guide for creating an energy strategy, written by industry experts.
Step 1: Conduct An Energy Audit
The first step is to check how your business uses energy. This helps you find weak spots or areas where energy is wasted. An energy audit can be done by a professional energy brokerage firm. They will look at things like HVAC systems, chillers, pumps, boilers, air handlers, BAC systems, windows, and motors. This audit gives you a clear picture of your energy use and shows where you can make improvements.
Step 2: Perform A Utility Analysis
Next, review your utility bills to understand how energy usage affects your costs. Consider a utility bill audit to check for errors. Commercial energy bills often have mistakes, and an audit can help recover overpayments as a refund.
Step 3: Implement Energy Modeling
An energy efficiency firm or engineer can suggest ways to save energy and estimate potential savings for each project. This could include installing LED lights, adjusting BAC system sequences, or recommissioning a building automation system. It’s important to compare the costs and benefits of each option.
Step 4: Determine Your Energy Milestones
Finally, create an energy efficiency plan with clear goals and milestone dates. You may not implement all solutions at once. Focus first on projects that provide the highest return on investment.
How Hiring A Commercial Energy Broker Can Help?
If you’re thinking about developing an energy plan yourself and going at it alone, you might be surprised by its complexity. Energy can be complicated to understand and without an expert in your corner, might seem impossible.
Hiring the right energy broker to guide you in developing your energy strategy is critical. Not all energy brokers are created equal. It’s important to find a broker that also offers energy efficiency solutions and understands how to negotiate with energy suppliers in order to maximize your savings. Look for an energy brokerage company that:
- Offers hybrid energy supply contracts
- Has or offers renewable energy solutions
- Employs energy efficiency professionals
Many energy brokers are simply focused on commodity supply rates rather than a building’s energy usage as a whole.
Why Hire Us?
At Great Energy 1, our team has years of combined experience in managing energy for both commercial and residential clients of all sizes. We don’t just find the best energy supply prices in the market also help you reduce energy usage through proven efficiency strategies. Our expertise allows us to create tailored energy plans that save money and improve sustainability. Contact our team today to start building your smart energy strategy.
FAQs
1. What services does Great Energy 1 provide?
Great Energy 1 helps businesses and residential clients find the best energy supply rates, implement energy efficiency strategies, and optimize overall energy usage.
2. Why should I hire an energy broker?
An energy broker guides you through complex energy markets, negotiates with suppliers, and helps create a customized energy plan that reduces costs and increases efficiency.
3. Do all energy brokers offer efficiency solutions?
No. Not all brokers focus on energy efficiency. It’s important to choose a broker who can analyze your usage, recommend efficiency measures, and provide renewable energy options.
4. Can hiring a broker save my business money?
Yes. Brokers can lower energy supply costs, help you avoid overpayments, and identify energy-saving opportunities to reduce overall consumption and utility bills.
5. How does Great Energy 1 approach energy planning?
Great Energy 1 evaluates your energy usage, reviews supply contracts, and develops a comprehensive energy plan. This includes hybrid contracts, renewable solutions, and efficiency improvements tailored to your needs.