Reduce Your Energy Costs by Going Green
Do you want to cut the cost of your energy by 20%? Learn how putting simple cost-cutting measures into place can help your business save money and lessen its environmental impact. These five suggestions from Success Accounting Group will help you cut your energy costs and lower your greenhouse gas emissions. Find out more.
In Victoria, one of the biggest operating expenses for a small business can be energy, particularly if prices climb nationally.
Even though higher bills may seem overwhelming, there are steps you can do to reduce your energy costs and thus, your carbon footprint. Thus, to cut your energy costs and greenhouse gas emissions, we have these 5 expert tips.
5 Expert Tips to Cut Your Business Energy Costs
Optimize Heating and Cooling Systems
Making little modifications can have a large impact because heating, ventilation, and cooling can make up to 50% of all energy costs.
Set your thermostat to 24 degrees in the summer and 20 degrees in the winter to save money. Even a one degree change in this temperature could result in a 10% rise in your monthly bill.
Draught-proofing, insulation, external shading, and window tinting are very inexpensive changes that can help your company save money while improving the temperature inside.
To keep it operating effectively, make sure your equipment receives routine maintenance. If you don’t already have an energy-efficient system, it is worthwhile to purchase one when your current heating and cooling systems need to be replaced.
Use LED Lights
Compared to fluorescent or halogen lighting, LED lighting is far more efficient and also requires less maintenance. A typical small business may save up to $4,000 annually and cut greenhouse gas emissions by up to 30 tonnes by switching to LED lighting.
Light globes, downlights, fluorescent tubes, low-bay and high-bay lighting, as well as security and parking lot lighting, can all be replaced with high-efficiency LED lighting. To prevent lights from being left on needlessly, you may also put motion detectors in your business. Up to $1,000 and 5 tonnes of emissions could be avoided as a result.
Put in Timers to Save Money
You may be surprised to learn that shutting off your sandwich press during the busy hours of breakfast and lunch can save your café or restaurant hundreds of dollars annually.
By installing timers, your business may avoid depending on forgetful employees to turn off appliances like coffee makers and beverage refrigerators when they’re not in use.
Obtain a Qualified Energy Audit
Hire an energy expert to take care of the labor-intensive work. By examining your bills, equipment, and how your business runs, they’ll show you where you’re squandering energy and what you can do about it.
An energy audit for a typical small business runs about $7,000 and can cut energy expenses by 20%.
Utilise Government Programs to Help You Financially
It can be challenging to decide to invest in your business, even if doing so would result in long-term financial savings, in a time when budget is stretched further than ever.
The good news is that the Victorian Government Energy Upgrades program offers cash incentives for qualifying firms wishing to invest in energy-efficient goods and services. Businesses can get lighting, heating and cooling equipment, and more through this program at a reduced price.
Through the Small Business Energy Incentive program, the federal government also offers qualified companies a 20% tax break on purchases that promote electrification and more effective energy consumption.
About the VEU Program
The Victorian Energy Upgrades (VEU) program is an initiative by the Victorian Government in Australia that offers discounts to businesses for implementing energy-efficient upgrades. These upgrades can include activities like installing energy-efficient lighting, upgrading heating and cooling systems, or improving insulation.
The program provides Victorian businesses with access to accredited providers who can help them identify and implement energy-saving opportunities. By participating in the VEU program, businesses can reduce their energy consumption, lower their energy bills, and contribute to a more sustainable future.
Email your accountant to help with application and registration to save money!
About Lan Nguyen
Lan is the Founder and Chief Strategist at Success Accounting Group, Melbourne based CA firm. In a matter of short 8 years she has built up a reputable Chartered accounting firm with 3 offices and a team of 6 professional accountants and support team members. Her mission is to provide Innovative and Strategic Financial advice to help her customers make smarter financial decisions today for a brighter future.
Success Accounting Group is for established business owners who would like help to grow a sustained business. As a business owner you understand what drives your business success with our accounting team taking care of the rest.
Success and Wealth
Success Accounting Group Pty Ltd
Oakleigh, VIC, 3166
