Owning an eco-efficient business that rakes in profits is overwhelming. Energy prices soar every day and sustainability is a hot topic. How do you balance between making money and keeping a healthy planet in an environment where women-led businesses receive limited funding? Fortunately, you’re in a fantastic position to lead the change, because women have a reputation of staying committed to ethical living. According to Mintel Research, 71% of women in the UK strive to live ethically, compared to just 59% of men, with 64% of women turning off heating when leaving the house. A focus on energy efficiency frees up money to reinvest in your business, cut down on maintenance costs, and shrink your carbon footprint. On the flip side, achieving energy efficiency for businesses has obstacles like high initial investment costs and finding measures with the biggest impact. To help you make informed decisions, check these tips for female entrepreneurs looking to run eco-efficient businesses.
Choose Tailored Energy Tariffs
Imagine this: your business is thriving thanks to energy plans that are custom-designed to fit your goals (high energy efficiency, cost savings, and a smaller carbon footprint). To create an effective energy plan, track your consumption patterns hourly, daily, weekly, monthly, and yearly. Get to know your peak usage times and how tariffs change with the seasons. Then, take the time to compare energy suppliers and their offerings to determine the best fit for your unique needs, making sure there are no hidden fees. Don’t forget to look at the total estimated cost over the contract period, not just the rate per unit.
Also, consider renewable energy sources. You have options like solar, biomass, and wind that boost your energy efficiency and display your business as eco-friendly, for instance. And why not dig a little deeper into Power Purchase Agreements (PPAs) for businesses? They can help you secure long-term energy supplies at low rates. With PPAs, you can sell additional energy generated from renewable resources. Not only will you be bringing in some extra income, but also help the UK reach its net-zero goals.
Investing in a Heat Pump
If you haven’t switched from a gas heating system to a heat pump, especially an air source heat pump, it’s time. This will be a smart financial move and a step towards sustainability. What these pumps do is use electricity to transfer heat rather than creating it by burning fossil fuels, which means lower energy consumption, reduced bills, and a 70% cut in carbon emissions. However, before investing in air source heat pumps, carefully consider the size of the heat pump based on your building’s space to ensure effective heating. Also, assess how you’ll be using it. Will you need it for heating water or for underfloor heating? And don’t overlook the cost. Does it fit your budget? If your business is short on upfront cash, you might qualify for a £7,500 grant under the Boiler Upgrade Scheme to help cover those initial expenses. Just remember to check that your commercial building is well insulated before applying for the grant.
Leverage Tech Innovations for Energy Efficiency
Incorporating tech into your eco-friendly business practices is paramount in optimising resources, saving money, and enhancing operational efficiency. Take smart meters, for instance, they could help cut down 16 million tonnes of carbon emissions and save small and medium enterprises around £2.2 billion by 2030, according to research from Oxford Economics. These devices give real-time insights into your energy consumption patterns, allowing you to reduce usage where it counts. You could also adjust your consumption based on grid conditions through demand response programs, which not only saves you money but also helps keep the grid stable. Plus, install an energy management system to pinpoint inefficiencies and set improvement goals.
Being mindful of electricity or gas usage is vital for modern businesses. You want to save money and stay on top of sustainability goals. To turn your business into an energy-efficient brand that resonates with eco-conscious consumers, customize energy tariffs. Go green with an air source heat pump and harness innovative tech to optimise your firm’s energy consumption.