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How much does becoming energy efficient cost?

Making your business more energy efficient can be a great way to help bring down costs, as well as help you take steps to minimise your business’s impact on the environment.

But making these changes to your business can have some costs associated with it. This blog from FSB details some of the costs involved with becoming energy efficient, as well as some ways you can help fund the changes and additions to your business.

Replacing equipment

For some businesses, one of the major associated costs to becoming energy efficient will be replacing equipment, such as machinery.

Perhaps some of the tools and machinery you use have become less efficient over time, as they begin to show wear and tear. Or perhaps it’s been several years since you bought a piece of equipment, and the march of technology means that new, far more efficient and productive models are now on the market.

It’s important to note that the costs of becoming energy efficient can vary significantly, depending on what kind of industry you’re in and the size of your business.

When replacing vital machinery, the initial cost might seem particularly expensive. However, it’s also important to keep in mind that you’ll probably benefit from the long-term savings for years to come, meaning the changes should pay themselves off over time.

How much does becoming energy efficient cost?

New additions and changes to your business

There are also a lot of smaller changes that you can make around your business to become more energy efficient, which can be more affordable, or can have low costs associated with them.

For example, replacing the lightbulbs in your business with lower-wattage LED bulbs can be a quick, easy and affordable way to reduce energy costs. You might also consider installing timers on your lights, which ensure they are all switched off once everyone has left the office.

Something as simple as holding a brief meeting or providing a brief training session on energy efficiency could also help. You may want to implement some new guidelines, such as asking staff to ensure that all equipment and lights around the office are switched off before the end of the day. Things like this can help to bring down the amount of energy uses.

Alternatively, you could consider a larger change like installing solar panels on the roof of your premises. While it can be a much costlier change, you should benefit from adding a renewable energy source to your company infrastructure to help power your business.

Bursaries and aid

When considering the cost of becoming energy efficient, you should consider looking into ways that can drastically reduce the associated costs.

For example, some businesses and government bodies offer energy assessments to small businesses. These can help you identify ways to increase your energy efficiency and provide solutions and suggestions to make improvements.

However, alongside this support, you can also stand to benefit from bursaries and interest-free loans that are designed to help you increase your energy efficiency.

For example, the Carbon Trust’s Green Business Fund can provide you with a bursary of up to £5,000 to go towards the costs of energy-saving changes in your business, which doesn’t need to be repaid.

Looking into the resources you can make use of before you start making energy-efficient changes to your business, can make the process easier. Because there’s a wealth of advice and aid available, you can also make the process more affordable, while helping your business better benefit from the changes you make.