Electricity prices per unit are not just rising across the United States every year, they are rising several times in the same year now. Therefore, if the ever-growing cost of electricity is something that you worry about as a business owner, you are certainly not the only one.
The good news is that there are still ways to get around the steeper spikes and keep the annual cost of business electricity comparatively manageable. As to how a business owner should go about it, let’s discuss that part next.
Find a Better Electricity Provider
Although it may seem like the price of electrical units is rising at the same rate for everyone, that’s not quite true. The base price of electricity is rising for sure, but what you are paying for it does not accurately represent the price hike. What you are paying in electricity bills is the cost at which your electricity provider is generating/buying their electricity + their profit margin at the very least.
Therefore, you might be able to find a better, cheaper business electricity provider if you know how to look for one. For example, you can choose your own electricity provider in Texas using this platform for business energy rate comparison. Several major cities such as Dallas, Houston, and Arlington in the state of Texas have deregulated the commercial energy market, which allows business owners the freedom to choose a provider and a plan that best suits their company’s requirements.
Shift to Smart Lighting
Smart lighting refers to several ideas that are implemented partly or comprehensively to shrink electricity consumption without affecting necessary illumination at a place of business. For example, motion detecting lights in some of the hallways and in certain portions of the business complex is a pretty reliable way to cut down on lighting expenses.
There is no point in paying for illuminating an infrequently used hallway or a corner of the landscape unless somebody needs those spots to be illuminated. They light up as soon as they detect motion, which means that these lights are actually quite good for primary security reasons too.
Go Off the Grid
Texas is one of the leading solar energy states in America, coming second only to California. According to reports, Texas has the capacity to generate over 16,173 MW of solar electricity in 2023. Given that we are talking about one of the hottest states in the country, that makes perfect sense as well.
Install a PV array or two at your place of business if you have not done so already. It will let you take a good portion of your business’s energy requirements off the grid. In case of smaller businesses, solar panels can actually be used to meet most of their business’s electricity requirements.
If you have a solar array but it was installed a long time ago, consider upgrading the system. Solar energy conversion rates have improved drastically in the last few years, thanks to better PV cells and the introduction of devices that can store solar energy directly from the grid. The fact that there are significant tax rebates associated with solar energy usage will not hurt your wallet either.