These are turbulent economic times. Rising energy costs and price hikes across all consumer goods mean that customers and employees aren’t the only ones feeling the pinch—businesses are too.
Although many countries are set to introduce up to 90% cuts on energy tariffs this year, some organisations in at-risk industries like manufacturing, as well as small businesses, remain vulnerable to high bills, leading to potential job losses and even closures.
However, the good news is there are many ways you can effectively reduce your energy costs by leveraging smart technologies like the Internet of Things (IoT).
Here are four energy-saving strategies to help you efficiently reduce energy consumption and lower costs without hampering business performance.
By using IoT-enabled smart meters, businesses can quickly access insightful real-time data on their energy use across all locations, such as peak consumption periods, energy-intensive processes, and energy wastage risks.
Empowered with so much data, it’s far easier to implement energy management solutions relevant to your business priorities.
For example, we connected Magna, the global automotive supplier, to our energy management solution. The highly flexible and modular solution enabled Magna to successfully reduce energy consumption rates across all their plants by providing readouts and transfer of the meter readings using our IoT network.
To create more energy-conscious lighting habits, you must first understand your lighting needs and any current usage anomalies that may be driving up your bills.
This is where energy management software and smart metering solutions come in. For example, intelligent lighting controls, like Philips Hue, allow you to optimise lighting usage based on occupancy and natural light availability.
Using motion sensor technology and automated dimming features, you can control whether lights are on or whether they are at the right brightness level according to working patterns and business needs.
Consider this—turning down the thermostat in your office by just 1°C can save up to 7% in heating costs.
It’s possible to save more than €70 from your annual energy bill for every degree you lower the thermostat. That’s a decent amount of money back, without disrupting working conditions too heavily.
For greater efficiency, let technology do the work for you. For example, Google’s Nest Learning Thermostat automatically adjusts your heating while enabling you to monitor your office in real-time.
Unsurprisingly, office equipment is one of the biggest drains on business energy consumption. So, imagine having greater control over how and when you use it.
For example, prioritising printing or reminding employees to shut down their computers at the end of the day. The advantage of energy management applications is they are available 24/7, giving you immediate access to your account and balance.
In addition, you can perform a range of tasks, from monitoring your usage and bills, and analysing wastage to setting up tailored notifications relevant to your business.
TrueEnergy, an app which allows you to control over 600 appliances from your phone, is a good example. Apps like this are especially useful in periods when you’re not physically in the office but want to understand how energy is being used on site. They can even support electric vehicles.
While these tips are helpful in times of crisis, they’re also valuable for the long term. If you use technology to improve operations, reduce costs, and support your team, you’ll be better placed to manage whatever challenges you and your business might face.