Do you know what the average cost of utilities for your commercial building per square foot is?
According to a recent survey conducted by Vantage Etc., for most commercial buildings, energy use is the single largest operating expense, representing approximately one-third of typical operating budgets.
The average cost of utilities for your business will vary based on a number of factors, such as the size of your building, the industry you’re in, the climate in which you’re located, and the type of equipment you use. For example, if your business stays open late and experiences extreme temperatures, you can expect to spend a little extra on your lighting, heating, and cooling costs.
The cost of electricity is calculated based on a number of variables, including the time of day you’re using it, the season, and where you live. Controlling and cutting energy costs doesn’t happen overnight—it’s part of a more extensive process that starts with learning more about how you’re being billed, your industry’s energy profile, and your building’s specific energy dynamic.
Regardless of your size and location, finding ways to curb your business’ energy consumption is worthwhile. When talking to prospective clients for our Vantage Etc. energy division, Vantage Energy – the most common question is, “how do we even start?” We start with some simple questions:
- When was the last time your company reviewed the incoming utility bills to ensure the rates you charge are correct?
- Are you using an energy management system? An energy management system allows you to compare usage over time and in various locations. If you have more than one office location, determining which of your sites uses the most energy or least energy can set you on a path toward efficiency. Once you can decrease the energy usage in a location, you can follow suit with the rest of your sites.
- Have you conducted an energy audit? An energy audit is a professional assessment of your energy usage. It helps to understand your extra consumption and reduce it. Therefore, saving excess utility costs.
- What about upgrades? Have you upgraded your facility to help improve energy efficiency? Changes such as LED lighting, motion-activated switches, solar panels, and window coverings can help lower costs.
With Vantage Energy, it all starts with copies of your utility bills, and we take it from there!
Vantage Energy, a division of Vantage Etc. founded by entrepreneur Nick Capano in 2003, has recovered $250,000+ by finding errors in energy bills for some of the most renowned national and global corporations. Vantage Risk Management, another division of Vantage Etc., creates innovative employee benefits packages for large corporations and businesses with up to 30,000+ employees. For more information, email ncapano@vantageetc.com.