Running a business means always looking for ways to keep down expenses and fatten the bottom line. Unfortunately, most business owners do not take the time to look at all of their expenses and find ways to lower costs. If the average entrepreneur would take a look at their electric rates and ways to lower them, they would be shocked at how much they can save every year.
Compare Business Electricity Rates
The majority of business owners have become so used to getting electric service from the local big utility company that they do not consider the possibility of alternatives. Any business owner can go online to get an instant electricity comparison with the many alternative suppliers in their area. Though all providers use the same power lines, maintained and serviced by local utility company, they offer plans and electric rates that can save businesses money. Think Expedia for electricity. Now a days virtually no one buys tickets directly from the airline company. Similarly, there is no need to buy electricity directly from local utility. It is simple, but majority of the businesses are not aware of that option.
Avoiding State and Federal Tax Rebates
New York State, for instance, has a huge electricity tax rebate program that saves businesses a lot of money every year. In New Jersey, businesses can get rebates simply by recycling old electronic office equipment and appliances through the state. As you compare business electricity rates, you should also look into the many tax rebate and incentives programs offered at the state and federal levels. You can also get huge rebates for installing solar panels and putting energy efficient appliances and windows in your business.
Solar Panels and Wind Energy are Great Alternatives
Not only can a business get a tax break for installing solar panels, but they can also save a lot of money on their energy bills. If enough panels are installed, then that business might generate more energy than they need and can sell the excess back to the public utility company. In areas such as New York City and the coast of New Jersey, the winds tend to blow all year round. Those winds offer a great source of reliable energy that business owners should be tapping into. In fact, New York just announced huge investment into wind farm off the cost of Long Island. Though installing wind turbines might not be as easy for some businesses, solar panels are a different story. Installing solar panels next to your building or on the roof is relatively easy, and should recoup installation costs in a few years.
Making the Office More Energy Efficient
Every business owner should have an energy efficiency checklist they use to make sure they are saving as much money as possible on their monthly bills. Every little step taken towards better energy efficiency means less money paid on monthly bills. When you start cycling out your old office equipment, make sure you buy new equipment with the highest energy efficiency ratings. Don’t forget to recycle your old equipment instead of letting it sit in a storage room for years.
Small steps such as replacing the incandescent lights with energy efficient florescent lighting saves money, and posting signs to remind people to turn off lights when they leave a room makes a difference. A checklist of energy efficient changes and policies adds up to savings on monthly energy bills and more money on the bottom line.
Any business that is not getting an annual energy audit is throwing money away. Your energy efficiency checklist would be enhanced by an annual energy audit, and the money you spend on the audit will pay for itself several times over. Your business goes through a lot of changes every year, and that is why you should have a professional come to your location to give you advice on how to keep energy costs down.
The idea of an online instant electricity comparison to save money on electric bills is something most business owners never do. When a business owner does not investigate ways to lower overhead costs by bringing down their energy bills, they are leaving money on the table. It is time for you to take the steps necessary to lower your energy bills and maximize your company’s profitability.