Business Energy Audit – 5 Benefits For Your Business

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Conducting a business energy audit can help your business to remain compliant, identify energy inefficiencies, and become more cost-effective as a business. In recent times, conducting such as audit has taken on greater importance than ever. These days, things like corporate responsibility and climate change have become important considerations for any business. Conducting a business energy audit can help you in these areas. We take a look at the top benefits of performing a business energy audit in this post, so you can see how vital this might be for your company. Let’s dive right in and run through the benefits now…

Benefit #1 – Identify cost saving opportunities

If you improve the energy efficiency within your organisation, it can lead to significant cost reductions. For many businesses, energy is a significant overhead. Any opportunity to decrease the spend here can lead to significant savings. The audit will be able to identify where you are currently wasting energy. A plan can then be put together to stop this wastage in the future. This is the first key reason to conduct an audit – it can save your business valuable money.

Benefit #2 – Avoid Energy related fines and penalities

It’s estimated that more than 45,000 larger companies in the UK could face major fines because of lack of compliancy with energy related protocols and reporting regulations.

The now mandatory Energy Savings Opportunity Scheme (ESOS), provided a comprehensive review of the energy consumption of UK businesses. If you organisation does not adhere to this, you could face some heavy fines and penalties. So this is another key benefit of conducting a proper audit. It could flag these kinds of issues before they become a significant problem for your company.

Benefit #3 – Claim back money on your historical energy bills

Another key benefit of conducing an energy audit, is that you might be able to claim back money on your past business energy bills. Comprehensive bill validation can be conducted as part of your business energy audit. This should identify any areas of overspend. You can then start the process of claiming that money back for your business.

Typically, you’ll be able to go back through several years worth of bills when doing this. So the saving could be significant. You can also set up this kind of validation on an ongoing basis as part of your audit. So you can continue to benefit from this in the future as well.

Benefit #4 – Aid commercial strategy and support your business decision-making

Conducting a business energy audit can help your organisation to improve your overall commercial strategy. Having a better understanding of how your business is using energy helps you to put in place a better strategy for managing it moving forward.

This can inform and support board-level decisions, and help you finance and operations teams to better plan and manage spend. You can get invaluable data and analysis from a business energy audit that it would be hard to find elsewhere. You can then use this data to inform better decisions about how your business uses it’s energy.

Benefit #5 – Take advantage of business energy grants and rebates

During the process of conducting a business energy audit, you might be able to identify areas where you can benefit from grants and rebates. This could again save your business valuable money.

As an example, the Carbon Trust offers up to £10,000 to SMEs to aid them in the purchase of energy-saving equipment. You might also be able to claim for things like exemptions and discounts related to the Climate Change Levy.

This is another way in which a business energy audit can benefit your business. It can identify additional ways that your business can save, that you might not otherwise ever have become aware of. It’s another great reason for you to conduct a business energy audit now, if you haven’t yet done so.

Conclusion regarding your business energy audit

We hope that you’ve found this blog post regarding your business energy audit useful. Are you confident that you know everything required to handle this yourself now?

Let us know by commenting below, and also do let us know what specific advice or guidance you would like from us to follow up on this by contacting us.

We’ll be happy to help further. This is one area of business energy that it pays to get right. So do let us know if you’re unsure about anything, and we can offer some clarification.

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