Four Key Reasons to Make Your Plant More Energy Efficient
Every business with an eye towards the future thinks about ways it can become more energy efficient. How this happens differs from industry to industry, but when it comes to the reasons why, certain factors are universal no matter what the company produces. Put simply, sustainability equals viability in four critical areas.
This is the reason that usually comes to mind first, and it is certainly a strong one. Making a solid profit each year allows a business to expand as needed, weather any storms that come along, and make replacements or upgrades to equipment. Profits can also be put into research leading to new products, better processes, and even higher efficiency, further ensuring a firm’s industry status and prosperity.
An energy efficient plant is also less subject to supply shortages and energy price instability. War and political uncertainty may occur thousands of miles away, but the effects can be dramatic when it comes to energy prices all over the globe. Companies with a solid strategy in place will suffer less from unexpected events.
Improve the Environment
It will take a concerted effort from everyone to reduce greenhouse gases and limit the impacts of climate change. This will ensure our planet continues to be a healthy and hospitable place in the decades to come.
Companies leading the way in promoting Greener is Cleaner not only reap the benefits, but are industry leaders. They can also attract customers inclined to support businesses that understand the importance of conservation and the environment.
Increase Re-Sale Value
While some homebuyers don’t mind investing in a fixer upper, this is rarely the case when it comes to business. Organizations looking to acquire other companies or expand into new workspaces prefer not to spend additional capital on improvements. It makes more sense to seek out spaces that already have lower energy and maintenance costs. Those are indications of forward thinking management on the part of the current owners, and likely extends into other areas, such as building and equipment longevity, employee safety, and a healthier working environment.
One key element buyers look for is facilities with an Energy Management System (EMS) in place. These “smart buildings” use the latest in technology to reduce energy costs through innovations such as calculating the body heat given off by the people inside, and automatically opening and closing windows and blinds. The Office of Energy Efficiency & Renewable Energy reports that an EMS reduction of an hour per day in lighting times for a 50,000-square foot building could result in savings as high as $2,000 per year. The savings from a switch to LED lighting are even more notable. Having an effective EMS already in place helps a plant to stand out when it goes on the market.
Keep Ahead of Energy Regulatory Changes
As the push for more energy efficiency continues, governments will respond with tighter regulations requiring facilities to derive an increasing percentage of their energy from renewable sources.
Companies that are forward thinking and implement technological changes as they come will stay ahead of the regulatory game. This allows them to avoid costly, last-minute alterations to meet new laws with the potential to disrupt their ability to operate, meet demand, and remain financially viable.