Starting, and subsequently maintaining, a small business is no walk in the park. In fact, for most fledgling businesses, it’s more like hiking Mt. Everest. Indeed, the journey to success can be grueling, but there are small ways that business owners can cut corners to conserve financial resources.
Believe it or not, becoming more energy-efficient will affect your business’ financial performance. That’s right—when you consciously ration your energy usage and eliminate unnecessary office equipment you can reduce your monthly electricity bills. While it may not seem like using different light bulbs or unplugging the copier machine will have a significant impact on the health of your finances, you’d be surprised how much you can actually save—since the cost of energy may be one of your biggest expenditures.
According to the U.S. Department of Energy (DOE), ENERGY STAR-rated LED light bulbs use 75 percent less energy and last 25 times longer than traditional incandescent light bulbs. The DOE predicts that, if both businesses and homeowners switch to LED lighting solutions over the next few years, the country as a whole could potentially save $30 billion by 2027.
You can also save on energy bills by updating your office tools. For instance, for your employees who are using computers, do they need to use desktop computers? Perhaps they could work just as well on a laptop that uses less electricity (and less space) than a bulky desktop computer. What’s more, you might also consider updating your phone system to an advanced Voice over Internet Protocol (VoIP) system that transmits phone calls over the Internet. In doing so, you can forgo the wires and costs of a traditional phone system—which use more energy than an Internet router.
Furthermore, businesses in deregulated, or energy choice, markets can select the electricity supplier of their choosing. Different electricity suppliers in your area may offer significant savings. For instance, some suppliers offer a fixed price plan (versus a variable priced plan which changes each month). A fixed price plan affords businesses the ability to more easily manage their energy budget.
Ultimately, it’s your choice whether to change your light bulbs or update your office tools. Armed with this knowledge, however, you’ll always have options to help maintain a nice, cushy bottom line.
Want more energy information for the small business owner? Click here to read more on ConEdison Solution’s energy blog.