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5 Ways to Fatten Your Bottom Line by Drastically Cutting Energy Costs

Daniel Neiditch

GUEST WRITER

President of River 2 River Realty and Atelier Condo NYC

June 3 – 5 min read

Opinions expressed by Entrepreneur contributors are their own.

Leadership often demands touch choices, but the decisions you make about your company’s energy usage shouldn’t require too much deliberation. Businesses squander an estimated 30 percent of their energy spending through inefficient practices. In a crowded marketplace, those wasted resources can make a world of difference.

You live by the fortunes of your company and spend a good deal of time looking for every possible edge. Why, then, should you waste money on inefficient energy practices? When the life of your business and the well-being of the world as a whole are at stake, the choice to save energy becomes a pretty easy one.

The good news is it’s easier than ever to make your business more energy-efficient. The green movement has hit the business world in a major way, and that means plenty of simple options can help you save on energy costs. Here are a few ways that a relatively small investment can reduce spending and lower your environmental impact.

Appoint an “efficiency czar.”

Naming an office “energy czar” gives your company the ability to correct efficiency issues as soon as (or possibly even before) they cost you money. An administrator already manages the ins and outs of the workplace, so putting him or her in charge of energy use is a natural extension of job responsibilities.

The office manager takes care of administrative tasks around the building and naturally has a finger on the pulse of your company’s day-to-day operations. This person or someone in a similar role may be best positioned to streamline your company’s energy use. No matter who you choose, she or he must be conscientious and motivated — someone who can identify potential areas for improvement with an eye on eco-friendly developments.

Practice out with the old, in with the new.

Your newly appointed energy specialist’s first order of business? A full audit of your fixtures and equipment. Energy-efficient electronics might seem an unnecessary purchase, but they’ll more than make up for the price difference after a year or two of regular use.

A multitude of energy-efficient electronics are labeled so you can check ratings when it’s time to replace your old computers, printers, copiers and other equipment. Even when you’re not using electronics, they’re consuming energy. This perpetual standby can account for as much as 10 percent of electricity costs, so devices with better ratings will reveal an immediate impact. Odds are you’re using a wide variety of equipment. Evaluate it all, from your phone to the server on which you store your data.

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