Inflation is a term used to describe the rate at which the prices of goods and services increase. The United States has experienced moderate inflation in recent years, with the rate averaging 2.1% between 2012 and 2016. However, this year, the inflation rate has spiked over 8%, one of the highest in history.
The high inflation rate has affected the commercial sector. For example, the prices of raw materials used in manufacturing have increased, which has led to an increase in the price of finished goods. This, in turn, has led to higher costs for businesses and consumers alike.
However, it has also led to a rise in utility costs among many offices. The average utility cost of an office is around $1,500 per month. This figure has increased by almost 10% in the last year alone, meaning that many businesses are struggling to keep up with the rising costs.
If your business has been experiencing high utility costs during the past few months, consider these tips to help decrease that amount.
Use More Natural Lighting
Natural lighting is a crucial resource that you have to take advantage of. The electricity from the lights of your office alone contributes about 30% of the overall utility costs of your office. You must reduce that cost by turning off your lights in the morning and letting natural light do its job.
You can do this in many ways. One way to do it is to install more windows. Windows provide natural light and can also help ventilate your office, which can help reduce the need for air conditioning. You can hire a window installation service to do this for you. The service will know where to place the windows to get the most natural light possible.
Another way to use more natural lighting is to install skylights. Skylights are a great way to let in natural light while saving energy costs. In addition, skylights are the best way to light up a room, so consider having one in your conference or meeting room.
Utilize Energy-Efficient Appliances
Appliances are another significant contributor to high utility costs. Unfortunately, many businesses still use older appliances that are less energy-efficient than newer models. Upgrading your appliances to energy-efficient models can help you save significant money on your monthly utility bills.
You can also save money using less energy-intensive methods to heat and cool your office space. For example, you can use a space heater to heat your office in the winter instead of turning on the furnace. In the summer, you can use a fan to cool your office instead of the air conditioner.
Both methods will use less energy and help reduce your monthly utility costs.
Reduce Your Office’s Water Usage
Water is another resource that businesses consume a lot of. You can save money on your water bill by reducing your office’s water usage. One way to do this is to install low-flow toilets and faucets. Low-flow toilets use less water per flush, and low-flow faucets use less water per minute than traditional models.
You can also reduce your water usage by fixing any leaks in your office. For example, a small drip from a leaky faucet can waste a lot of water over time, so fixing any leaks as soon as you notice them is essential.
Leaving the water running while brushing your teeth or washing your hands is another way businesses waste water. You can save water by turning the sink off while you’re not using it.
Offer Telecommuting Options
During the start of the pandemic, many Americans were forced to work at home. So if you’re looking for ways to save on your office’s utility costs, consider offering this option to your employees today.
Telecommuting is a great way to reduce your office’s energy usage. When your employees work from home, they’re not using the electricity in your office. This can help you save significant money on your monthly utility bill.
You can also save money on water and sewage costs by having fewer people in the office. When your employees work from home, they’re not using the water in your office, which can help reduce your water bill.
Switch to Renewable Energy
Renewable energy is a great way to reduce your office’s carbon footprint and save money on utility bills. You can switch to renewable energy by installing solar panels or wind turbines.
Solar panels are a great way to generate electricity for your office. They’re also relatively easy to install and maintain. As a result, solar panels can help you save significant money on your monthly utility bills.
Reducing your office’s utility costs is a great way to save money. There are many ways to do this, including using more natural lighting, switching to energy-efficient appliances, and offering telecommuting options. Implementing some of these tips can save money on your office’s utility costs.