As a small business owner, becoming more energy efficient in how your business runs can positively benefit your bottom line and boost overall business growth at the same time.
In this article, we explore what being energy efficient means for a small business, how it’s beneficial, and what you can do to start your journey today.
What does it mean to be energy efficient?
Being energy efficient means using less energy to achieve the same results. There are many different actions you can take to become more energy efficient. Some of these are significant in nature (for example, changing the way your workplace is built) and some are much smaller in scale (for example, using the energy that you have more effectively through more energy efficient appliances). The linking factor is that you are making better use of the energy that you have.
Why should my business become more energy efficient?
Becoming more energy efficient is beneficial to your small business. Becoming more energy efficient can lower your energy bill. This is because you are using the same amount of energy to do more. While there can be an initial cost to buy more energy-efficient equipment, it will often save you money in the long run.
How do I become more energy efficient?
Becoming more energy efficient isn’t as complicated or expensive as you might think, especially if you start small.
Finding ways to become more energy efficient doesn’t have to be difficult. Here are some ideas you can explore as part of your small business journey.
1. Get an energy audit
An energy auditor can come into your business and assess how you use energy and make recommendations about where you can cut costs and become more efficient in your energy use.
In our research, we found that just 5% of small business energy consumers have undertaken an energy audit.
To find an auditor, visit the Energy Efficiency Council database.
2. Develop a plan
What your business looks like and the industry it operates in will determine how you become more energy efficient. For example, a butcher’s energy efficiency journey will look very different to a small architect’s firm. You need to figure out what works best for your business.
You also don’t need to do everything all at once. Some common actions are listed below.
Smart appliances – including smart lighting, thermostats and energy management systems – can improve your energy efficiency by giving you more control over your usage. Timers and automated settings can help you use appliances in more efficient ways and make sure they’re not running when they don’t need to be.
Similarly, before you buy a new appliance, get to know its Energy Rating Label. This can help you determine how energy efficient it’s going to be. There’s also an Energy Rating Calculator you can use to compare it to other appliances.
There are many things that you could consider including:
- Process innovation and equipment upgrades
- Metering and monitoring
- Refrigeration
- Pumps and fans
- Air compressors
- Heating, ventilation and air conditioning
- Building management systems
3. See what incentives, rebates and tax deductions you’re eligible for
There are many government rebates and concessions available to help you become more energy efficient. Simply search for what’s available in your state or territory to see if you’re eligible to apply.
The Australian Government also offers a Small Business Energy Incentive, providing a 20% bonus tax deduction on eligible expenses for energy efficiency upgrades, like investing in energy-efficient appliances or improving lighting.
