Four Things to Look For to Get the Most ROI on Energy Efficiency
As energy prices continue to rise, many business owners are looking for ways to cut costs and improve profits. Making your commercial building energy efficient could dramatically cut down on your energy costs. Most buildings can benefit from energy efficiency improvements but there are certain things that can improve your return-on-investment. Here are four simple things to look for to get the highest return-on-investment from energy efficiency improvements.
1. Hours of Operation: The longer your building is open, the more energy you are using. It stands to reason that the best return on energy efficiency comes from 24/7 buildings. The cost to keep a building running is be higher the longer a building is open and the more likely energy efficiency improvements would pay for themeselves in a short period of time.
2. Electricity Rate: A typical energy efficiency retrofit saves business owners between 25 and 40% on their energy bill. The average commercial building uses 17.3 kWh per square foot each year; if you have a 15,000 SF builing and spend $0.11 per kWh, you would spend $28,545 on energy each year. That’s a huge cost when with a energy efficiency improvements, you could save anywhere from $7,136 to $11,418.
3. Building History: When was the last time you upgraded the lighting or refrigeration in your store? If your answer is more than three years ago, you’re due for an upgrade. With today’s improvements, you could modernize your store, save money and improve sales.
4. Parking Lot Lighting: Chances are, you have a lot of lights in your parking lot. The brighter your parking lot, the more marketable your store is but if you’re using pole and canopy lights to illuminate the lot, you can replace them with much more efficient options. Efficient pole and canopy lights will give you the most bang for your buck when it comes to recouping the benefits of energy efficiency quickly.