Things to Look-Out for In Energy and Water Monitoring
Businesses of all sized should be keeping track of their energy and water costs. Simply monitoring electrical, gas and water usages will help to keep buildings and businesses on the right track to cut unnecessary costs. Here are four reasons why monitoring electricity, gas and water usages may be beneficial to business and building owners.
1. Be aware when things are not operating properly.
Tracking electricity and water costs with easy to use applications will make building and business owners aware when something is malfunctioning. For instance, an app that tracks water usage will alert an owner when there is a possible leak, or if a faucet has been left on. Understanding these metrics will help to cut costs on utility budgets and increase overall profits.
2. Assess seasonality costs
Being in Europe presents seasonality costs, some areas have harsh winters and others hot summers. Each season comes with it its own cost to operate water and electricity supplies. Monitoring tools will show building owners and businesses when seasonality affects their utility prices. For example, many business and building owners find that they regularly spend a particular percentage of revenue on electricity, gas and water charges. Certain times of the year, such as a hot summer when air conditioners are running can cost more. In the case of a business, if revenues do not pick up to offset that increase in operating costs, an owner will know that it may be time to consider spending money on systems that will cost less in the long run. Having the tools to monitor electricity use patterns will allow the business owner to assess the proper amount to spend on new air conditioning units.
3. Learn when the best time for extra expenditures are and where to cut down
As mentioned above, monitoring electricity, gas and water use will give business and building owners specific price points for their utility usage throughout the year. Businesses can keep benchmark targets for usage and have an understanding of when the best times of the year to make extra expenditures are. For example, if an owner is aware that their water bill will be lower for the month of May compared to the rest of the year, they can plan to do maintenance such as power washing the storefront, knowing that the water bill will remain within the monthly budget.
4. Involve employees or tenants in cost-cutting rewards
Using electricity, gas and water monitoring technologies also gives business and building owners a chance to engage employees and tenants. Since monitoring can be done in a number of ways, depending on how it is set up, groups of people or individual apartments can be monitored for utility use. Incentives can be used to encourage people to save on utilities. One way a building owner could make use of this idea is to offer a free cleaning service for one day to the tenant that uses the least amount of electricity in a month. In a place of business, if the business manages to cut back on use by 5% the employees may be rewarded with a barbeque or happy hour outing.
In addition, environmental concerns are becoming increasingly serious and many municipalities are beginning to consider tightening regulations. Already having monitoring systems in place will keep owners and managers ahead of this trend and able to take action when needed. Monitoring the use of electricity and water utilities can be very useful and save business and building owners time and money in the long run.