How Can SMEs Become More Energy Efficient
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How Can SMEs Become More Energy Efficient?
Summary
British Telecom's recent decision to invest in wind farms for renewable energy is a positive step towards meeting renewable targets in Britain. This move enhances the company's image and cuts long-term energy expenses. Similar pressures to reduce carbon footprints are also felt by small and medium-sized enterprises (SMEs), which need to explore energy-efficient practices.
Article
British Telecom's initiative to invest in its own wind farms marks a significant milestone in Britain's journey toward achieving its renewable energy goals. As one of the nation's major energy consumers, BT's actions not only enhance its image but also promise substantial long-term savings. However, large corporations aren't the only ones facing the push to reduce carbon footprints. SMEs are also expected to demonstrate their commitment to environmental responsibility, and they have several options to do so.
While opting for a green tariff may seem like the simplest choice for SMEs, it requires widespread adoption to be truly effective. Moreover, the additional cost?"an estimated 10% premium?"can be prohibitive, with energy already comprising about 10% of business overheads. For many SMEs, this isn't viable.
Instead, SMEs can take a more strategic approach by shopping around for the most cost-effective energy suppliers. For instance, a business spending £7,000 annually could reduce its expenses to £5,600 by switching providers. In contrast, a green tariff might raise costs to £7,700. Over 25 years, this choice could save a business £82,000, assuming stable energy prices and a 3.5% inflation rate.
Despite the perception that improving energy efficiency requires high upfront costs, significant savings can be achieved with government support. The Advanced Capital Allowances (ACA) scheme allows businesses to claim 100% of a qualifying energy-efficient device against taxes within the first year, compared to the usual 25% per year on a declining balance. This boosts the financial appeal of investing in energy efficiency.
Cultivating a culture of energy awareness within the workplace is crucial. Simple, cost-free changes, like encouraging employees to turn off lights and computers, can lead to meaningful savings. Additionally, adjusting the thermostat a few degrees in winter or summer can further reduce energy bills.
For those ready to invest further, micro-generation options such as wind turbines or solar panels are becoming more efficient and economical. Supported by savings, these investments can offer significant financial and environmental returns.
Just as BT aims to enhance its public image by prioritizing energy efficiency, SMEs can do the same. By adopting cost-effective strategies and sustaining these efforts over time, SMEs can achieve significant long-term savings and positively impact the environment.
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