Act now to maximise your business energy efficiency in 2024

Act now to maximise your business energy efficiency in 2024

TEAM Energy blogs

As we near the end of the year, your business planning will start to look towards 2024.

Whether you are a large company, a public sector organisation or an SME, there will be an overarching strategy that will include milestones and targets along the way. It will also cover energy management commitments.

To help you, TEAM’s Energy Consultant, Casey Streat, has put together five things to consider, ensuring minimised energy expenditure and reduced emissions, keeping you on track to your long-term sustainability or net zero goals.

1. Mitigate energy price uncertainty

Energy budgets have been challenged over the past few years. Despite the Energy Bill Relief Scheme and the Energy Bills Discount Scheme (EBDS), as well as wholesale energy prices falling from their high peak, energy still accounts for a much larger cost than it did a few years ago. Many businesses have had to acclimatise to the higher prices, and try where they can, to keep their consumption lower. However, as we enter the winter months consumption will inevitably rise again.

To help offset that rise, manage your energy efficiency by keeping a close eye on your data. If you have a BEMS system or energy management software, real-time alerts that detect unusual consumption behaviour, such as the HVAC system running overnight, can help you take appropriate and swift action to prevent the situation getting worse. If you have access to dashboards, use them to establish transparency around consumption; this can help if you are trying to change consumption behaviours in the workplace.

Establishing these good practices now to continue into next year and beyond will offer carbon reduction benefits and help keep consumption low to mitigate any further unit price rises.

Read the full blog to help your 2024 energy efficiency planning