Recent surveys reveal that 80% of business owners are worried about rising energy bills.¹ With this in mind, business energy experts, Utility Bidder have offered advice on how using sustainable energy can help owners save money on business bills.
Chris Shaw, CEO of Utility Bidder, comments, “As the cost of fossil fuel-based energy continues to rise and consumers become more environmentally conscious, forms of renewable energy are becoming increasingly attractive for businesses.
Not only can clean renewable energy solutions help businesses reduce their carbon footprint, hit sustainability targets and comply with stricter government regulations, but they can also provide priceless business opportunities for companies to both make and save money, as well as transform their corporate image. With this in mind, we have answered key questions and offered our advice on how small businesses can be more sustainable.”
How can an SME be more sustainable?
There are two main ways for your business to become more sustainable.
Firstly, you can switch to an energy provider that offers ‘green tariffs’. These deals guarantee that the energy your business is supplied with comes either exclusively or partially from renewable sources. This solution allows your business to go green without having to invest in your own renewable energy technology.
The second option is to generate your own sustainable energy by investing in things such as solar panels. This naturally requires significant investment in infrastructure and specialist equipment and costs can depend on variables such as location and the size of your business’s premises. Although initial investment is needed, this method of becoming more environmentally friendly can pay for itself over time.
Is investment in sustainable practices stalling?
A report by Oxford Brookes Business School reported that a large proportion of small businesses were looking to be more sustainable, with 43% saying they were ‘likely’ to do more to reduce carbon emissions in the next two years.
59% of businesses also reported that they were already actively lowering their carbon emissions, and 28% of business owners reported that they were ‘very likely’ (28%) to do more to reduce carbon emissions in the next two years. These statistics, paired with the rising cost of fossil-based energy, suggest that businesses will continue to invest in sustainable practices.
What are the benefits to the business and its employees in nurturing eco-friendly practices?
There are many ways that small businesses can benefit from nurturing eco-friendly practices.
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It helps to reduce your business’s carbon footprint
Aside from the obvious environmental benefits of reducing your businesses’ carbon emissions, adopting renewable energy solutions early will put your business ahead of others and make meeting government deadlines for corporate carbon emissions reductions much easier.
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It can improve your corporate image
Using renewable energy solutions and hitting environmental responsibility targets can help your business be seen as a pioneer in green energy adoption. This can help make an impression on your clients, stakeholders, and potential future employees. Press coverage of your switch and/or renewable investments can also boost your public image, improving visibility and driving up business.
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You can financially prepare for the future
As fossil fuel supplies diminish, the cost of conventional solutions is expected to continue increasing. Making the switch early and getting ahead of the curve can help your business save money in the long term. Whether that involves investing in a renewable energy infrastructure or choosing from the increasingly wide range of renewable tariffs and providers, both have advantages.
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Businesses can take advantage of government clean energy schemes and reduced levies
The government has introduced a number of schemes and levies to encourage UK businesses to reduce their carbon output. From securing a reduced Climate Change Levy (CCL) rate and meeting Energy Saving Opportunity Scheme (ESOS) targets to securing grants, switching to renewable energy solutions can save your business money and help you take advantage of schemes, grants, and incentives.