Ever increasing energy prices are widely reported across the media. The big six energy giants have increased their prices on average 6.75 percent. Organisations can no longer afford to be dismissive about their energy expenses whilst passive approaches such as paying energy invoices without question are now a thing of the past. Forward thinking businesses are investing in renewable technologies.
There are many obstacles to reducing energy bills: cost, time and management are all factors which need consideration. Can businesses trust what they're being told? Whilst we all know to turn lights off on a weekend, does anyone in your business implement this? What further steps can your business take to reduce energy prices and how complicated is this process?
Why The Increase In Prices?
Firstly, we need to establish why energy prices are climbing in the first place. Energy companies blame the rising energy costs on the increasing wholesale and import energy prices, which in turn impacts businesses and home owners alike. Not only this; but research by Bloomberg New Energy has found that electricity bills are to rise by 50 percent by 2020 for domestic customers. It argues that a continuing increase in wholesale prices will have a major impact on the market. Whilst this is predicted for domestic customers, its just a matter of time before businesses are also affected.
We only need to look at high street stores to see the trend for energy saving: Marks and Spencer now has Europe's largest solar wall, Morrisons issues renewable energy guide books to suppliers, and Sainsbury's boasts that they're Europe's largest solar power generator. These, however, are large businesses with a big budget to invest in energy saving technologies. You may feel small businesses cannot make the same investment. This is not true.
Generate Energy For Your Business
Large and small businesses alike can combat increasing prices by generating their own energy using technologies such as solar panels, wind turbines and biomass boilers. These technologies not only generate energy to reduce energy bills but ultimately save businesses money. On top of this, the technologies are eligible for government incentives such as the Feed in Tariff and Renewable Heat Incentive.
Under the Feed in Tariff, businesses also get paid for any energy they don't use, which is sent back to the national grid (export tariff). This ensures that businesses not only save money on their energy use, but make money through incentive schemes as well.
Whilst it's simple to say that businesses need to invest in renewable technologies to reduce their energy bills, this is a costly process. Many businesses do not have the initial upfront costs needed to invest in these technologies. What's more, it is increasingly difficult to secure a loan from banks, who are becoming progressively demanding when it comes to lending money.
Easy Financing With Energy Efficiency Financing
The above problems which businesses face could be easily solved with Energy Efficiency Financing. Created in 2011, Energy Efficiency Financing from The Carbon Trust and Siemens ensures that businesses can invest in these technologies whilst incurring no extra costs.
The Carbon Trust are independent experts on carbon reduction advising on sustainable low carbon opportunities, measuring carbon footprints and developing low carbon technologies. Meanwhile, Siemens aim to provide innovative solutions to help tackle the world's major challenges. They supply the funding required for technology installations.
The benefits of Energy Efficiency Financing speak for themselves. Finance is available immediately, with businesses able to borrow from as little as 1,000 pounds. Energy Efficiency Financing takes into account which technologies businesses want installed, what the savings will be and what payments will be received from the Feed in Tariff and Renewable Heat Incentive. Energy Efficiency Financing repayments are never greater than these savings making installation cash positive from the start. Any businesses with 36 months of trading can apply for Energy Efficiency Financing through one of The Carbon Trusts or Siemens's suppliers.
How does the finance process work? Your business should contact an an approved Energy Efficiency Finance supplier who will be able to not only install the technology deemed suitable for your business, but complete the required paperwork in order to ensure your installation runs as smoothly as possible.
Simple, Easy Solution
More and more businesses are coming under pressure to reduce their energy prices, which continues to rise, damaging a business' bottom line. Increasingly, businesses are looking at renewable technologies such as solar panels, wind turbines and biomass boilers to not only reduce energy use, saving the business money but generate an income. However, as banks are increasingly refusing to lend money to businesses, this could be a cost businesses simply cannot afford.
Energy Efficiency Financing from The Carbon Trust and Siemens provides businesses with the finance needed to buy and install their chosen technologies. The finance is provided quickly, and repayments are never greater than the savings made and generated by the FIT and RHI schemes. This ensures that businesses can not only save money but make money through their installations, and that the installation is cash positive from day one.
Debbie Read is a Digital Marketer for energy management company Apollo Energy Technologies. Apollo Energy Tech are passionate about reducing business energy consumption and saving them money. They are happy to share their vast experience and knowledge with companies, enabling them to become CRC compliant and ISO50001 accredited.
Apollo Energy Tech have a range of products to enable businesses to do this, from management techniques and monitoring software to renewable energy generation products and services. Apollo Energy Tech use their industry knowledge to offer businesses bespoke solutions to reducing their energy use.