It’s no secret that energy prices are rising in Australia. With default electricity prices increasing as much as 9.7% over the next year alone, businesses are under increasing pressure to cut overhead costs while staying competitive.
Add on top of all that the growing issues brought upon by climate change, and business owners need all the help they can get to save their hard-earned cash.
But at the end of the day, reducing costs is about more than just simply cutting back. It’s about implementing smarter strategies, better technology, and enacting small changes that can add up over time. It might seem easier said than done, but with some guidance and commitment, anyone can see their electricity bill shrink.
Here are some practical tips to help reduce the energy costs for your business.
1. Start With a Business Energy Audit
Before you can work towards reducing your energy costs, you need to have a thorough understanding of your business’s current (yes, pun intended) electricity situation. You may be surprised by just how much or how little you are spending each quarter compared to the median business owner.
Start by reviewing your past energy bills and calculating the average costs, identifying peak demand charges. Take note of any seasonal spikes, like during long public holiday weekends or Boxing Day sales.
Then, once you have an idea of what you’re actually paying for, you can physically inspect your business. Try to locate which energy-hungry equipment may be running up your power bills and wasting precious energy, such as fixed lighting in unused areas of your shop or a refrigerator in the break room that no one actually uses.
By auditing the state of your business’s energy consumption, you can then break down what areas you ought to try and save money on. This can be achieved primarily by installing more energy-efficient equipment like solar panels, solar batteries, and solar water heaters.
Pro tip: for a quick energy bill audit, use our Solar Savings Calculator to see how much you might be able to save by switching to renewable energy equipment.
2. Include Your Team in an Energy-Saving Culture
Now, knowing what is driving up your energy costs is just the first step to saving money. You need to enact a whole new energy-conscious mindset to change the ways you personally rack on the dollar signs.
But of course, you aren’t alone in this! To truly reduce your energy costs for your business, you need to include the whole team and foster an energy-saving culture.
Train your staff to habitually switch off all unused lights, machinery, and computers whenever they can. Try to commit to off-peak scheduling for high-energy tasks like operating heaters and air conditioning — opening a window or two can also work wonders!
You can make an energy-saving culture at work fun, too, by encouraging folks to share their goals and progress with each other. Maybe even consider making a game out of the whole thing with a starboard or progress bar with incentives for that month’s “Energy Champion” or by handing out a Greenest Thumb Award.
Saving money on energy is no laughing matter, but maybe it can still all be fun and games with a little imagination and team spirit!
3. Harness Solar Power for Long-Term Savings
As part of your new energy-saving culture, you should look at taking bigger steps towards reducing your energy bills. One effective way to reduce costs is by implementing multiple commercial solar power solutions for long-term savings.
Roof solar panels offer a great solution to powering passive technology like automatic doors and air conditioning, whereas solar hot water systems are a great alternative for hospitality, health, or industrial sectors needing to heat massive amounts of water daily. Installing a solar battery also allows for energy storage, making peak demand reduction and energy independence more accessible.
Solar PV is a proven solution to help slash daytime electricity costs. By relying less on fossil fuels, your business can save money by spending less on them. Contributing to the grid also has its own incentives, and over time, you’ll start to enjoy a surplus of energy from your panels. Keep in mind that there are different types of solar solutions, and commercial solar systems can easily be scaled to different business sizes.
With solar power added to your business, you can keep the lights on for less and even make money in return!
4. Take Advantage of Rebates, Incentives, & Schemes
We aren’t the only ones who think installing solar and saving energy are great ideas. The government agrees with us! There are several federal and state government programs and initiatives out there designed to support businesses hoping to invest in renewables and energy efficiency.
Solar incentives and schemes can significantly help reduce upfront installation costs and even provide a lump sum incentive to your eventual earnings. The Next Gen Energy Storage Program, for example, allowed those eligible to access a rebate of up to $3,850 or up to half price for their solar battery installation. With battery prices lower than ever, an initiative like this makes it even easier to install a solar energy storage system and start fighting back against rising power prices.
Similarly, the ACT Sustainable Household Scheme allowed residents to borrow up to $15,000 cumulatively across several loans over 10 years to help them install new solar panel systems on their homes. Programs like these make it easy for homeowners and business owners to make the leap to renewable energy.
These programs are changing all the time, so we can assist your business in navigating them. Reach out to us for advice about how to save money on your first solar installation!
5. Review Progress & Plan for the Future
Once you’ve gotten into the groove with your new energy-saving lifestyle and you’ve upgraded to energy-saving equipment, make sure you keep it up! This is not a set-and-forget exercise situation; reducing your energy costs for good requires long-term vision and resilience.
Continue to track your energy bills quarterly to measure their impact. Pay attention to what new strategies are working and what is not living up to its full potential. You can beam at the results as you see your changes work in real time with lower costs each bill cycle!
Conduct a fresh energy audit for your business every 12 to 24 months, too, in order to identify new energy black holes and saving opportunities.
The ultimate goal is to create an energy strategy that isn’t just aimed at addressing today’s energy crisis but that also positions your business to hold the line in the future. A brighter, more sustainable future is possible for less if you go all-in with smart solutions and a can-do attitude.
Reduce Your Business Energy Costs Today with Solargain!
Today more than ever, lowering your business’s energy costs is vital to running a competitive and sustainable business in Australia. By taking a structured approach and auditing your current usage, upgrading to efficient equipment, and investing in solar power, you too can create a pathway to long-term savings and greater independence from the expensive fossil fuel grid.
The journey towards energy efficiency gives back what we put into it: small changes can compound over time, while bigger investments like solar and storage can transform your bottom line. The businesses that act now will enjoy the dual benefits of reduced expenses and stronger environmental credentials sooner than those who keep waiting.
So if you’re ready to take the next step toward slashing your energy bills, talk to us today about a tailored solar quote for you and your business. Future-proof your operations and cut costs today!
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