Posted by Rowena Phatak on Nov 04, 2015
As we mentioned in our last blog post, Commercial Energy Management: Alternatives To Control Energy Costs, energy usage is one of your business’s most controllable costs. However, strategies to control energy costs come in many forms.
As you work with an energy expert to conduct assessments of your overall energy usage, you ultimately determine a commercial energy management plan. You’re then able to customize your plan by deciding which projects you need to do today and which projects may better serve your budget in the future.
Some energy efficiency measures may take years before you see a return on your investment, while others start paying for themselves almost immediately. You may need to replace, reprogram or upgrade your equipment to effectively reduce your energy consumption.
For example, if an energy assessment shows that retrofitting your building’s exterior lighting saves you $8,000 per year, but the project cost is $38,000, you then know it will take 4.8 years to see the payback on your investment.
When you’re able to weigh cost versus benefit, you further hone your commercial energy management plan by deciding when to implement certain energy efficiency projects. Together, you and your energy expert decide what works best for your budget.
Commercial Energy Management Controls The Cost Of Market Fluctuations
Over the next five years, building retrofitting improvements are predicted to help reduce energy consumption by 29%, with an annual savings of $290 billion in U.S. energy costs. However, it’s the customization of a commercial energy management plan that reveals solutions to fit your company’s specific needs and long-term strategy.
By reducing your energy consumption, you lower your costs as energy prices continue to rise. And, by developing a customized commercial energy management plan, you are taking a proactive (rather than reactive) approach to fighting market fluctuations.
That’s why it is important to partner with an energy expert. They are able to break down your utility bill and analyze your commercial building to provide transparent explanations and guidance. This highly targeted approach to controlling commodity price volatility is a solution that sustains well into the future.
Ready to customize your strategic commercial energy management plan and control costs for the long term? Schedule your 15-minute, no-cost consultation with an Energy Advocate at South Jersey Energy today.