3 Considerations When Reviewing Your Energy Budget2 min read
New Year’s resolutions provide us all a goal to strive for. Usually the goals are personal like exercise more, eat healthier, etc. Ideally, you should also set goals at work too. Although January is over, and many people have given up on their personal resolutions – about 80% of resolutions fail by the second week of February – you can still achieve work goals like bettering your company’s budget.
Businesses often take a look back at the wins and losses of the previous year, devise new strategies for success and align those goals with their budgets. No budget discussions are complete without a careful assessment of your energy needs. In fact, energy is one of the top expenses for most commercial and industrial businesses today.
Let us help you defy the odds and stick to a resolution. Here are three considerations in the form of resolutions that you can make if you want to review your energy strategy this year.
1. Spend less, save more: One of the most common New Year’s resolutions is to take a more cautious approach to spending. Why not do the same with your energy budget? There are plenty of ways that you can accomplish this. Here are two easy solutions:
- Make smaller, fixed price purchases over time. Smaller load-following purchases over the term of your contract will help your business manage market extremes. By spreading the timing risk, your business can take advantage of energy price lows while still fixing costs in case energy prices rise.
- If possible, shift your hours of operation. Energy costs differ throughout the day, depending on overall consumption in the area. If there are energy-intensive processes that you can shift away from peak-demand hours, you may be able to better manage your costs.
2. Commit to better health: Another common personal New Year’s resolution is to be healthier. It’s also a goal you can put into place while developing your energy budget. Your budget should leave room for maintaining the condition and longevity of your existing infrastructure, including servicing of your mechanicals. Not only could this improve the efficiency of your equipment, but it could help your employees stay healthy. An automated system offered by one of Constellation Technology Ventures’ portfolio companies, Powerhouse Dynamics, may help you achieve peak productivity and efficient energy use.
3. Give your facility a makeover: Sometimes, all it takes to go into the New Year feeling like a new person is a new look. If your facility is in need of an overhaul, we can help. Our Efficiency Made Easy® program is designed to help you realize cost savings through a reduction in consumption and improved load profile – all with no upfront capital required.
At Constellation, we’ve been helping businesses of all types develop and manage energy strategies and budgets through the turning of many calendar pages. We’ve helped to support businesses striving to be better, working to make energy improvements and forging a path for long-term success. Want to see how Constellation can support your 2018 goals? Reach out and start a conversation with us today.