Retailers spend nearly 20 billion dollars on energy every year. As a result, reducing energy costs by as little as 10% can impact margins drastically. Given the recent nation-wide focus on climate change, deciding on clean energy and reconsidering your company’s usage is one approach to doing this and can help retailers earn up to $25 more per square foot in sales. Furthermore proper energy management and sustainability is no longer seen as a luxury, but a responsibility and it can increase revenue indirectly by positively affecting consumer opinion about a brand.
There are three easy steps that retailers can make to reduce energy costs and be more efficient.
- Energy Star – This is U.S. Environmental Protection Agency (EPA)voluntary program that helps save money and protect our climate through energy efficiency. They can help evaluate current energy usage and better understand where and how energy is being used.
- Lighting – Did you know 61% of electricity usage in retail stores is from lighting? There are many LED lights that last longer and use less energy. Lighting controls help make sure lights run only when the store is open. Fax machines, copy machines, and HVAC systems also play a large part, so make sure they are all operating properly. Smart plugs can also help you reduce your energy by keeping equipment off when not in use.
- Better HVAC Management – If your store lacks HVAC control, your likely wasting energy by running systems when the store is not open. In addition, even a few degrees set-point impacts energy use, so putting smart thermostats to control comfort helps save energy.
Depending on where you operate, there are possible government programs that will offer assistance. Riptide IO helps customers better control their stores and reduce energy. It’s good for your brand and the planet.