“..when we examine individual retail chains, we discover that excess energy consumption in retail can exceed 30 percent of total profits.” Yaniv Vardi
For many retailers the cost of energy is simply considered a cost of doing business. The need to rein in wasted energy is ignored while increased sales is the primary focus.
That focus is changing in a new breed of retailers. As Melissa Ofri of Panoramic Power notes in her quote below, modern retailers are treating energy as a “strategic asset”! When energy is viewed as an asset, instead of just a cost of doing business, the perceived value of it increases. Instead of allowing it to be wasted, every effort is made to conserve and maximize its productivity.
“More and more retailers are realizing that energy can be looked at as a strategic asset that can positively affect their bottom line.”. Melissa Ofri
When wasted energy exceeds 30% of profit in the typical retail setting – there is a potential for a dramatic increase in profit without any additional sales! Just eliminating the wasted energy can significantly improve profits! When you combine increased sales with reduced waste of energy the results can be quite dramatic!
There is a whole new world of technology when it comes to saving energy and energy efficiency
What should be encouraging to retailers is the sheer number of technologies that are now available to reduce wasted energy. Daylight harvesting devices using GPS guided mirrors in high tech skylights focus the light of the sun to provide free “natural” lighting. Lighting controls using motion sensors light up display cases when a customer approaches them and automatically turn off the lights when no one is around. Lighting that uses lots of electricity and gives off too much heat is being replaced with LEDs that use very little electricity and give off minimal heat. Less heat means less air conditioning which lowers the electric bill.
There has never been a better time for a business to dramatically cut energy use or energy waste
Most energy efficiency projects in the past were ignored due to the initial cost associated with upgrading technologies. New financing programs such as Property Assessed Clean Energy (PACE), are geared specifically towards energy efficiency, and can now make them affordable! Many energy financing programs are set up so the energy savings will pay for the cost of the upgrade!
Energy efficiency experts can now dramatically reduce wasted energy. Ultimately retailers and other businesses are able to cut their energy expenses, reduce wasted energy and become significantly more profitable!
If you would like to know about reducing wasted energy in your building or business The Energy Alliance Group of Michigan compiled a report entitled Ten Questions to Ask Before an Energy Efficiency Upgrade! You can get a free copy HERE!