Summer means barbeques, pool parties, and high energy bills. This is expensive and annoying on a personal level, but for business, it can be downright damaging. Peak demand and high energy costs join forces to sweat the bottom line for businesses around the world. Many businesses have accepted this as a harsh reality: a cost of doing business in the summer. But, it does not have to be.
Innovations in energy efficiency have made strides to empower businesses to control their energy consumption during the summer months (and throughout the year). Benefits of making energy efficiency a corporate priority this summer include increased profit margins and improved sustainability.
There are companies, both large and small, already taking advantage of new advancements in the realms of energy and operational efficiencies, demand response, sustainability, and energy management. Companies like Coca Cola, 3M, The North Face, and London’s Heathrow Airport are busting through energy efficiency myths to attain greater profits this summer.
Energy Efficiency for Business Is Expensive: Myth Busted
In fact, energy efficiency has been proven by many businesses to be profitable. By properly managing resources, businesses are reducing their energy spend and increasing their bottom line. In the last five years, the New England Patriots’ Gillette Stadium has implemented energy management strategies that have reduced electricity and natural gas use by 25%. The EPA tells us that improving energy efficiency is one of the most cost-effective ways address challenges like high energy prices.
Through their energy performance improvements, 3M saw 30% lower energy intensity in 2012.
Certainly, Gillette Stadium and 3M will not be energy hogs this summer (and will improve corporate profits and brand reputation in doing so).
Energy Efficiency for Buildings: More Myths, More Busts
If your business operates in a building (or if your business is to operate buildings), there is huge potential savings for you this summer. In fact, the energy savings from retrofits for US buildings could total more than $1 trillion. These kind of savings speak to SMEs, big business, and even to the government (See Obama’s Energy Plan).
Many buildings operate a Building Management System (BMS) and assume it optimizes their energy efficiency. Wrong: Building Management Systems can be overridden and do not account for real-time activity. This summer, a BMS alone will not guarantee that your enterprise isn’t an energy hog. To get this sort of assurance, you need to synergize between your BMS and a device-level Energy Management System (EMS) to monitor systems and lead to actionable insights for energy efficiency.
Energy Efficiency this Summer
The US Energy Information Administration (EIA) warns us to expect big bills this summer. They advise that last summer, average temperatures in the US were lower than normal and that 2014’s summer temperatures will be 5.7% higher. They warn of increased bills for residences and even higher increases for businesses.
But energy bills do not have to be higher for you. The North Face, for example, will actually have bills that are 10% lower this summer thanks to their energy management solution.
Click here for an infographic on 6 energy efficiency myths.
Jon Rabinowitz is senior director of marketing at Panoramic Power, a leading provider of energy management solutions for retail business around the world. In this role he advocates on the use of sensor energy monitoring technology to make proactive operational decisions and reduce energy costs. This article was republished with permission from Panoramic Power.