Posted by: Paul Millican
Electricity is one of those overhead costs that is completely unavoidable; from manufacturing facilities to business offices, and everything in between, businesses need power – and the electricity market know this all too well. That’s why a lot of businesses and financial personnel struggle to keep their electricity cost in check. But surely there’s an easier solution to manage the cost of your business’ electricity bill?
Of course there is – after all, managing and lowering the costs of businesses is what I do every day! When it comes to significantly reducing your costs, sometimes against a large industry that on the face of it appears to be doing everything it can to make this difficult, it’s best to look outside of the box…and onto the roof?
In a similar vein to last week’s recycling article, generating your own electricity is good for the planet and for your overheads. But just how does a business go about generating its own electricity in a cost effective, green way?
One option is Solar power, of course! Fortunately for business owners and those finance directors and managers seeking to lower costs, there are a range of schemes across the UK aiming to enable businesses to self-generate energy. The schemes, funded by investors who receive subsidies from the government, are a real opportunity for landlords with commercial properties or businesses with freehold premises.
In return for roof space which a business will lease, the investors provide fully funded installation of the solar panels. What’s more, because the investors retain the subsidies, they’re able to sell back electricity generated to the user at a rate typically 40-50% below the current market rate – that’s quite a significant saving.
It could be argued that the relationship between green solutions and businesses is growing stronger in recent years, and this scheme is evidence of that. From a cost management perspective, this is an exciting opportunity to do your bit for the planet and cut down on your electricity bill.
Look out next week for part two, discussing just how much businesses can benefit from these schemes, along with the finer details. In the meantime, if you’d like your business costs reviewed, you can enquire about a Business Health Check.