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How You Can Save Money In The Time Of Increasing Energy Prices

by Sonal Shukla

With mass vaccination, countries around the world have somewhat curbed the spread of Covid-19 infection, and economic activities have started picking pace. However, an almost two-year hiatus in trade and business has resulted in a sudden demand for fuel and energy supplies. Energy rates have skyrocketed and businesses around the world are looking towards other alternatives.

In the UK, new research has shown that energy bills could rise as much as 30% by 2022. This means that operating your business within the budget will become a daunting task. However, if you are a business that is ready to adapt to other alternatives in these testing times, you can save huge sums of money. Here are some renewable energy methods that can help you to save money on your business energy bills:

Installing A Renewable Energy System At Your Business

Running a business is a not-so-easy thing, and you might be doubtful of the feasibility of installing a renewable energy system at your business. It is also possible that you might have a limited budget so you will not be able to have a full-scale self-sufficient renewable system installed at your premises.

Therefore, it is recommended to go for a pilot project planned by your in-house energy experts. This way you can install a limited capacity renewable system to provide electricity to a certain sector of your business. If the pilot project turns out to be feasible you can then allocate a larger budget for transitioning towards full-scale renewable energy system installation.

Once your business becomes self-sufficient in meeting its energy demands you will be able to save a considerable amount of money that was previously spent on paying energy bills. Some renewable energy systems that can be installed at your premises include:

Solar Power System: 

This system can recover its cost within 6-10 years.

Wind Power:

Microturbines are a great solution for windy and coastal regions. They can recover within 1-8 years depending on the size of the turbine. 

Biomass System:

Best for rural and countryside businesses, you can install this system to recover costs in 5-12 years.

Ground Source Heat Pumps:

With minimal installation costs, you can recover this amount in around 15 years.

With these systems, you can not only provide energy to your operations but extra energy can be sold to your local grid as well. Allowing you to earn money during seasons your business is shut down.

Getting A Green Energy Supplier

Another way of saving money on energy bills is to opt for a green energy supplier. This option is best for businesses that do not want to go into the confusing realm of in-house renewable energy systems. 

Opting for a green energy supplier can be a great way to not only save money but to get a tax incentive in the form of the Climate Change Levy (CCL) as well. If your green energy provider is producing green energy from dates before 1st August 2015 you will not have to pay CCL.

However, it can be difficult for you to find the correct green energy supplier for your business. Therefore, you should contact the Utility Bidder. They are an energy procurement company that not only helps you to find the best possible energy contract/pricing but they will also help you to make your business operations more energy efficient. 

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