| Business Energy Savings |
| Articles - Savings |
|
The late Milton Friedman was one of the greatest economic minds in history. It was Friedman who coined the term a business? number one priority is to earn a profit. Most people understand this. After all, a business that is not profitable will not be operational for long. However, most people look at profits from a narrow perspective. That is, they see profits exclusively in the form of revenues. This, however, is not completely the case. Profits are how much you have earned over your expenditures. That means a business can increase its profits by reducing its expenditures. And, without a doubt, the biggest expenditure drain a business often deals with is energy costs. That is why it is critical to cut back on energy costs if you wish you business to remain profitable. Thankfully, there are a number of easy ways to do this.
The late Milton Friedman was one of the greatest economic minds in history. It was Friedman who coined the term a business? number one priority is to earn a profit. Most people understand this. After all, a business that is not profitable will not be operational for long. However, most people look at profits from a narrow perspective. That is, they see profits exclusively in the form of revenues. This, however, is not completely the case. Profits are how much you have earned over your expenditures. That means a business can increase its profits by reducing its expenditures. And, without a doubt, the biggest expenditure drain a business often deals with is energy costs. That is why it is critical to cut back on energy costs if you wish you business to remain profitable. Thankfully, there are a number of easy ways to do this. You can see significant energy savings by simply using different bulbs in your office light fixtures. You can choose lower wattage bulbs (many fixtures are fitted with bulbs which are higher wattage than are needed), or you can choose compact fluorescent bulbs or LED light bulbs. While these will cost more than traditional bulbs, the money they will save your company on energy over the long run make these a very worthwhile investment. Timers can also save your business a lot of money on energy costs. It?s surprising how much money businesses lose by leaving electrically powered devices on overnight and on weekends which could be automatically turned off by a timer. It?s inexpensive to purchase timers and easy to install and use them; they are something which should be strongly considered by every office. Making sure that your building is properly insulated will also allow your company a lot of energy savings. Heating or cooling your office can be a significant expense, which insulating your building well will greatly reduce. It?s not very expensive to install insulation ? and you?ll save so much money on energy that it will pay for itself pretty quickly. You may also want to consider having an energy audit done. You can engage the service of professionals who specialize in inspecting buildings with an eye towards more efficient use of energy. You?ll have to fix the issues which an audit uncovers, but there is an incredible amount of money to be saved through implementing what are usually simple and inexpensive solutions. Other than simply saving your business money, saving energy in the office also benefits the environment by reducing the demand for energy. Remember Milton Friedman? He also said that the greatest thing any company can do towards achieving social justice is to make a profit ? in the case of reducing energy expenditures, he is right on the money. If you can reduce the strain your company produces on the environment, it is a great step which deserves to be applauded. Your business can and should be among these companies. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. About the author: Jerry Dyess has been specializing in the Electricity market segment for the past 7 years. He has published many articles on Business Electric prices. |