5 Ways Retail Businesses Can Slash Electricity Costs This Summer
Utility bills account for the greatest regular expenditure retailers incur when it comes to their business. Add to your corporate social responsibility and go green by cutting energy costs this summer. With these five ideas on how you can lower your energy consumption, you’ll be ready to tackle the summer hit without over-spending.
5 Ways Retail Businesses Can Slash Electricity Costs This Summer
- 5 Ways Your Retail Business Can Cut Energy Costs Next Summer
- 5 Ways Your Retail Business Can Go Green by Cutting Energy Costs
- Save Money and Protect the Environment by Cutting Your Retail Business’ Energy Costs This Summer
The electricity costs become significantly higher in summer when the need to run the air conditioner increases. Paying large utility bills isn’t just harmful for your wallet, it’s also harmful to the environment. Don’t compromise on customer experience or your own comfort, but pay lower energy bills by bringing about these changes to your retail business’ energy policy today!
How can you cut energy costs without compromising on customer experience?
Reducing your retail business’ energy consumption is a great idea, but it can sound almost too good to be true. When you set up your retail venture, you must have had the space designed to best enhance the customers’ experience? Many retailers use bright lights to make their stores appear brighter. But these brighter lights can easily increase your energy expenditure without you realizing it.
Spending on energy bills accounts for the fourth-highest investment you’ll be making as a retailer. By controlling how much energy you use, you can save a significant amount of money.
Why do energy costs soar in the summer?
Energy costs typically soar when it’s either too hot or too cold. In the same way that regularly turning on your heater can leave behind a large electricity bill, the air conditioner can similarly drain your finances in the summer.
Aside from the air conditioner, refrigeration also drains a large amount of energy and increases your utility bills. If you want to reduce your retail business’ energy consumption this coming summer, then these five tips can show you how.
1) Set Your Air Conditioner to 25°
When the summer comes around, you may think that a cooler retail environment can make customers happier. However, the colder you set your air conditioner, the higher your energy bill will be. At the same time, air conditioners are also known for releasing harmful emissions into the environment.
While getting rid of air conditioners isn’t an option, that isn’t necessary either. By controlling how frequently you use your air conditioner and setting the cooling to 25°, you can greatly reduce your energy costs.
You won’t be sacrificing on customer experience if you do this either. Setting your retail business to very cold temperatures can make your customers feel chilly instead of comfortable.
2) Replace CFL with LED Bulbs
LED bulbs are energy-efficient, more durable, and better performing than CFL bulbs. The initial investment you’ll have to make to replace all your CFL bulbs with LED bulbs is greater. However, over the long run, you’ll actually be spending less on bulbs and bulb replacements, while also enjoying lower energy costs.
LED bulbs last 40-60% longer than CFL bulbs. Keep your retail business bright and vibrant with LED bulbs, which are also durable and environment friendly.
3) Check Your Refrigeration
If you run a retail business that’s reliant on refrigeration, then that could be where most of your energy expenditure is coming from. Unless regularly maintained, the sealants around the door of your refrigeration unit can become loose. This can happen to a refrigerator, a refrigerated display and even a walk-in refrigerator.
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When this happens, the cold air from the inside travels outside through the cracks in the seals. This way, you lose the cold air you had in your refrigeration unit.
At the same time, when the refrigerator’s motor detects that the air inside the unit is getting warm, it starts to cool everything inside the unit again. This increased cooling inside your refrigerator can also increase your electricity bills.
If you notice that cold air is escaping from your refrigerated unit, then get it sealed as soon as possible.
4) Get Automatic Sensors
One way to reduce your energy expenditure not just for summer but across all the seasons is by investing in quality automatic sensors. These should be connected to appliances, lights, and other electrical devices that aren’t constantly used. Then, when the electrical device isn’t in use, it won’t be active and consume energy passively.
An example of this is keeping lights that you don’t need running in vacant rooms. While you need light in places people frequent, you don’t need it in places like your stock room. Lights with proximity sensors will automatically turn on and off when they detect someone nearby.
You should invest in automating parts of your daily operations, such as turning on electrical appliances, checking to see whether they are running on not, and more. This enables you to lower your overall energy expenditure over the long term.
5) Get a Smart Meter
If you want to control your retail business’ energy expenditure, then a smart meter can help you. It tells you how much energy you’re spending. You can get a smart meter installed in your business anywhere in New Zealand, just contact your electricity provider.
The smart meter will show you your power consumption readings. This helps you understand how much energy you’re spending and plan better on how you can cut energy costs.
You can also ask your energy provider to do an energy audit of your retail business. Many energy providers do this for free, so don’t worry about asking. An audit helps you clearly understand how and where your business is using energy and what you can do to cut your energy consumption.
Besides making your retail business summer-ready so you can enjoy the benefits of reduced energy bills, there is one more thing you should do to protect your retail business.
A shop insurance package for retailers will protect your venue, your appliances, and various other interests, depending on the policy or package you pick. Many commercial lenders also won’t rent your office space unless you have insurance like public liability insurance or glass insurance.
An insurance package for retailers can help you set your business up for success. Enjoy protection and coverage in case your business has to deal with legal and litigation issues. Your insurance can also help you in case your retail business or equipment is damaged, where the damage is covered under your policy. Enjoy the benefits of welcoming the summer months with no stress on your mind. Reduced electricity bills and great insurance coverage is all your business needs to thrive next summer and beyond.
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