3 Tips to Keep your Buildings' Energy Costs Under Control

Reducing energy consumption has become

energy prices, offices, bills, buildings, blockdox

Reducing energy consumption has become a key goal for any business. In the UK, the service sector accounts for over 60% of electricity consumption; whilst buildings contribute to around 30% of the nation's greenhouse gas emissions. These are figures that simply have to decrease and with the UK’s Carbon Law stating that the country needs to reach Net-Zero Carbon emissions by 2050, making sure your building is running as efficiently as possible is critical to your business’s long term success.

With this new law in place, business owners are trying to find the best solutions to redesign their buildings to be more energy-efficient as well as eco-friendly. And one way this can be done is by understanding and managing your data. This is further validated by a recent report from the UN programme highlighting that ‘ Energy consumption in buildings can be reduced by 30% to 80% using commercially available technologies’.

No matter how you decide to effect change, knowing exactly how your building is consuming energy will help you create a more effective action plan to reduce your energy usage, as well as your carbon footprint.

Today’s facilities managers (FM) need high levels of resilience to overcome the challenges of running buildings cost-effectively and energy-efficiently. With statutory pressure to reach net-zero targets by 2050 and to continuously reduce facilities' costs of operations and maintenance, FM and Building Managers are constantly pressured to find creative ways to solve these challenges.

Recently, a United Nation report stated that ‘real estate accounts for about 40 percent of the world’s energy consumption and a third of all carbon emissions'. This significant figure puts greater pressure on facilities managers whose mission is to reduce their facilities’ operating costs.

In addition, a report by CBRE has identified that managing energy costs will become an important aspect of FM in the years to come. To make matters worse, Ofgem has recently announced energy prices will rise to up to 54%. This sharp increase is mostly due to higher demand in energy which suddenly stopped during the pandemic.

Now that we’re emerging from countless lockdowns, demand for fossil fuels has jumped to levels never seen before. This, combined with historically-high inflation rates, has led to an all-time increase which is set to rise once again in October 2022.

The good news is that you can mitigate all of this with these three actionable tips which we have put together just for you!