Business View Magazine | October 2019

23 BUSINESS VIEW MAGAZINE OCTOBER 2019 Energy is an inevitable cost of doing business. An enterprise’s energy consumption ranges from lights and air conditioning to running machinery and powering production lines. There are several advantages of improving the efficiency of your business’ energy consumption. We highlight some of the most important ones below. Lower Operating Costs One of the oldest myths around energy efficiency is that only governments and large organizations have the financial muscle needed to make their processes more energy efficient. This argument was largely the result of the substantial up-front costs associated with installing renewable and green energy technology. Even if this may have had some element of truth in decades past, the cost of eco-friendly energy installations has dropped dramatically over the years. With the enablers of energy efficiency at their lowest prices ever, businesses of all sizes can transition their energy use to eco-friendlier options and thus slash their recurrent costs for energy. Higher Market Value of Buildings The benefits expected from energy efficiency are stimulating growth in the demand for green buildings. The tangible outcomes of greener spaces such as greater resilience, higher reliability, reduced energy costs and lower operating expenses are an attractive proposition in a world where business leaders are under ever more pressure from boards and shareholders to keep expenditure down. According to the Energy Star program , energy efficient buildings have higher asset value than ordinary buildings and also higher occupancy rates. Your investment in your building’s efficiency is therefore a long-term value play. Improved Brand Image There’s widespread public awareness on the rationale for environmental conservation, clean energy and reduced pollution. For this reason, consumers are increasingly paying attention to how the businesses they interact with are positively or negatively affecting the environment. Why is Energy Efficiency Important to Businesses?