(Newswire.net — November 7, 2022) — Energy costs can be a significant expense to micro-business owners. Chances are you’re always looking for ways to save money.
When you’re just starting, you might not have the cash flow to cover your monthly bills.
If that’s the case, don’t worry. You can save money on energy bills without compromising your business’s growth. Learn the important tips below.
Tips for using business resources wisely
One of the keys to success for microbusinesses is the practical use of your resources.
This includes having an energy consumption plan. You also need to be up to date with how to do business nowadays.
Part of this would be to learn modern apps that help ease your business processes. One of which is using an energy price estimation tool. If you are interested, read more for additional information.
Shop around
Utility companies offer different rates for various products and services, so it pays to shop around to find the best deal for your business.
Find out if any energy plans offer a discount for buying lower amounts of power from the grid or using renewable energy sources.
Some utility companies offer incentives for customers who use less power during peak hours or sign up for their time-of-use rate plans.
Some utility companies offer discounted rates if you sign up for automatic payments or pay by phone or online instead of mailing in monthly checks.
So, it’s worth asking your current provider if they offer these programs because they can save money by helping you lower your overall electricity usage.
You can also check with friends and family who work at different companies to get an idea of what they’re paying.
Then call several companies yourself and ask about their rates and other available programs, such as payment plans or discounts for signing up for automatic payments or paying online instead of mailing in a check every month.
Use suitable suppliers for your business
The type of supplier you choose can significantly affect your energy bills. Why? Because they can help you save on energy bills in the long run.
Some businesses have generators or buy the energy they need from large companies.
However, this isn’t always possible for smaller businesses. Especially those that don’t have much money to spend on energy.
A more cost-effective option is to get an energy contract from an energy supplier that caters specifically to micro businesses like yours. So you must select a supplier that provides services at an affordable price.
Choosing a supplier that meets your needs and offers excellent customer service is also good.
Many small businesses have found better deals by switching to new suppliers or changing the type of electricity they use. Thus you may be able to find a more suitable energy supplier than your current one if you do some research and ask around.
Monitor your energy use
How much energy are you using? If you don’t know where your energy is going, adjusting your usage and cutting down on costs will be hard.
To get a good idea, check out your utility bill
If you don’t have one, call the company to find out how much power you’ve used over the past year or at least the last several months. Then track that number against what it was last year at this time.
If your usage has increased significantly, you may want to investigate why and make changes accordingly.
Or you can use a smart meter. It is a great way to track how much electricity or gas you use and how much money you spend on it. If you don’t have a smart meter yet, consider installing one.
You could be eligible for a free smart meter from your energy supplier if you live in England, Scotland, or Northern Ireland, so check with your supplier for eligibility.
Explore solar power and renewable sources
If you love the idea of solar power, but you’ve never had the time or money to explore it, now is a great time to start thinking about it.
So, if your business has a roof that can support solar panels, consider exploring the option of installing them. Solar power is becoming increasingly popular as an alternative energy source.
They are also getting cheaper, and there are plenty of affordable options available to small businesses, and many incentives are available to help offset the cost of installing solar panels. So while the upfront cost of installing panels can be high, it will pay off in the long run.
You can also explore renewable sources, such as wind and geothermal, to reduce your carbon footprint while lowering your utility bills. If you have employees working remotely, consider using virtual servers to reduce the amount of physical equipment needed at your office.
Don’t be afraid to switch suppliers
Microbusinesses use less power than large companies, and switching energy suppliers can save you money.
For example, if you have a fixed contract, it may be worth phoning around and seeing the available deals. Many companies offer discounts for people who have been with them for three years or more, so it could be worth sticking it out until you qualify for this discount.
Once microbusinesses opt to switch, it’s because they often find better deals with new suppliers than their current provider.
So, if you have been with your current supplier for some time, it might be worth shopping around to see if another company can offer better rates and incentives.
You can use comparison sites to find out what deals are available in your area, then check out whether any savings will offset the cost of switching suppliers if there is one.
Final Thoughts
Many micro businesses don’t have the budget to hire a full-time energy manager, but they can still save money on their energy bills.
So, if you run a microbusiness, the good news is that there are many ways to lower your energy costs without compromising the quality of your services or products.
In addition, these ways will ensure that your energy bills don’t eat into your profits. So check the guide above for five tips you can use as a micro business to save money on energy bills.