Exploring Emerging Options for the Energy Needs of Micro Businesses
Small and micro businesses have unique energy needs, and it is a common misconception that micro businesses pay the same energy contract rates as every other business enterprise. Ofgem defines a micro business as having fewer than ten employees, having an annual turnover no greater than €2 million and using less than 100,000 kWh of electricity and 293,000 kWh of gas annually.
Due to their smaller scale and lower energy consumption, micro businesses have less flexibility when choosing energy contract pricing than larger enterprises. While this might appear to be a dead end for small businesses looking to save on their energy bill, alternative energy options and strategies for lowering consumption exist. Investing in renewable energy and energy-efficient technology are just some steps micro businesses can take.
Switching to Renewable Energy Sources
Switching to a renewable energy source can significantly impact your energy bill. Many energy suppliers offer green energy contracts, and switching can benefit your micro business.
One significant benefit is how your contract is impacted positively. Energy independence, cost savings, environmental sustainability, and competitive advantage are just some of the benefits that renewable energy can provide for micro businesses.
Which options are available for micro-businesses?
- Solar Power: Businesses installing solar panels on their property can generate energy, rely less on the power grid, and experience lower energy costs. To make solar energy more accessible and appealing, the government supports businesses that invest in it with grants and subsidies.
- Wind Power: Small businesses increasingly use wind power as a renewable energy source. Wind power is an attractive option for companies in areas with high wind speeds, particularly those operating outside regular business hours.
- Biomass: Biomass energy produces heat and electricity using organic materials such as wood chips, waste and pellets. Small businesses like farmers and food producers find this option particularly appealing because it can turn waste materials into energy.
- Hydropower: Hydropower, or hydroelectric power, is one largest and most reliable renewable energy source. Hydropower uses the movement of water to generate electricity.
The benefits of using solar, wind or other renewable resources can help your micro business reduce operating costs, improve your brand’s reputation, and create a more sustainable, greener future.
Battery Storage Systems
Battery storage technology has advanced significantly, and smart energy storage systems can be added to increase grid effectiveness. The growing trend of on-site energy generation allows micro businesses to become more self-sufficient and control their own energy reserves.
The extra energy generated from renewable resources like solar panels or wind turbines can be stored by micro businesses in this way. Peak demand charges and electricity costs are lowered because the extra energy generated during off-peak hours can be stored and used during peak hours.
A microgrid is a localised power system combining energy generation, storage, and source technologies. It’s quite helpful for micro businesses because it can reduce their energy consumption by using battery storage and renewable energy sources like solar panels.
At the same time, microgrids allow you to share excess energy, reduce transmission losses, and improve grid reliability. Microgrids can offer a dependable and cleaner energy supply for small businesses operating in remote areas. They can also reduce the need for pricey grid extensions and support energy independence.
Energy Monitoring Software
Every business looks at maximising its operations to reduce costs and save money. Your micro business can manage its energy consumption and spot areas for improvement with the help of energy monitoring software. With this software, you can track progress toward your carbon reduction goals by getting real-time data on how much energy you use and your costs.
The energy software will help your business monitor and find patterns, anomalies, and potential energy-saving opportunities. Not only will you reduce your company’s carbon footprint, but it will allow you to use energy more wisely.
Implementing smart technology can assist micro businesses in managing energy in different ways. Smart lighting, thermostats, and meters are a few examples of applications for smart technology.
Using a smart meter, for example, allows you to monitor, regulate, and optimise your energy consumption. Smart technology benefits include lower energy costs and increased operational efficiency.
Micro businesses have the chance to improve their sustainability, resilience, and financial stability as energy trends continue to change. Micro businesses can significantly reduce their carbon footprint and cut energy costs. These innovations increase energy efficiency and actively enable your micro businesses to contribute to a greener future. Visit https://thetotalentrepreneurs.com/ for the most recent information and updates on cutting-edge energy solutions.