The resumption of economic activity in the light of the decreased spread of the Covid-19 virus has given a glimmer of hope. However, things are not back to normal, supply and demand chains are going haywire. And the prices of basic commodities have seen a hike which includes fossil fuels.
The increase in fuel prices has had a domino effect on everything. Energy costs have gone up and businesses are having a hard time keeping operational costs downs. If the energy rates do not go down, business owners will have to transfer this burden onto the consumers.
This can cause slowed sales and economic growth for their businesses. However, they can opt for transitioning towards alternative options that are not affected by the global fuel prices.
The alternative options include finding a green energy supplier or installing a renewable energy system at your business. Let’s discuss how these two can save your business.
1. Getting A Contract With A Green Energy Supplier
There are two types of energy suppliers: Non-renewable energy suppliers and renewable energy suppliers.
Renewable energy suppliers source their energy from generation plants that use solar, wind, biomass and geothermal power to produce electricity. These types of power generation plants are unaffected by the sudden hikes that can occur in the volatile fuel market. So your business budget does not go out of hand and you can plan your future with more certainty since the prices will not change.
Moreover, opting for a green energy supplier can remove the Climate Change Levy on your business energy bills. If your business is an energy-intensive business, and you sign up for transitioning towards green energy you can also avail of other tax benefits.
2. Installing A Renewable Energy System At Your Business
The second option you have for transitioning towards renewable energy is to get a renewable energy system installed at your property. This way you will save large sums of money that were otherwise spent on paying energy bills.
Installing a renewable energy system will require you to have to get your business assessed by an energy procurement firm such as Utility Bidder. The energy firm will calculate the amount of energy you need to operate your business. It will also help you to figure out ways to reduce your energy consumption.
Having an in-house renewable energy system will require you to overhaul your operations. This is important to ensure the feasibility of the system that is being installed. Most of the equipment used at businesses is outdated and not energy efficient so if you want to be self-reliant you must cut down your energy usage.
Additionally, you will have to keep in mind that these renewable energy systems are not foolproof. They can fail to deliver their rated output if the conditions are not suitable ( such as cloudy/rainy weather can cause the solar system to become useless). For such situations, Utility Bidder will work out a mechanism where you can shift to the local grid to your energy needs.
This will allow you to be self-reliant while having a backup plan in case of emergencies. This setup will not only save you thousands of pounds but make your business future proof.
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