As the seasons transition and colder weather approaches, it’s important to start thinking about how to prepare your business for the winter season and protect it from high electricity costs. According to the National Gas Supply Association (NGSA), natural gas production is expected to increase by 4 percent this winter. Now is the time to take advantage of the current landscape and maximize your potential savings with solutions that keep your electricity rates low and efficiency high.
Explore more cost-effective solutions
Electricity rates can be as unpredictable as the weather during this season. Last year, natural gas prices skyrocketed across the United States. Currently, the NGSA predicts it’ll be even colder this year and more demand combined with less storage could cause a surge in prices again.
Commercial buildings consume more than 40% of the energy used in the U.S. This is important because these buildings have high-energy needs and with the current state of inflation, your business could be left out in the cold if you don’t take action sooner than later. One way businesses are ensuring lower electricity and gas prices is by locking in rates. The cost of your electricity is market-driven and when winter comes, the volatility of the weather can cause dramatic changes, making your energy management system work harder to keep you warmer.
There are renewable energy resources that can you help your business stay ahead of the curve in the long run.
Using a connected microgrid allows you to connect to the grid and can be powered by distributed energy resources like generators, batteries, and other renewable energy options. Microgrids can run independently of the grid and function as your own island of energy generation. These systems can offer fixed rates by securing energy prices for the length of your lease and protect you from expensive power outages.
Upgrade your energy system with solar
Your business could see a significant decrease in costs if you consider cleaner and cheaper alternatives like solar. Solar energy provides an opportunity for your business to see a long-term return using a more energy-efficient infrastructure. Natural gas prices determine your cost of electricity, so as the market fluctuates, so will your operating costs.
Fortunately, the cost of solar installations has dropped by more than 60% over the last decade—even less than gas, coal, geothermal, and nuclear resources. Last year, solar made up 46% of the electric capacity on the grid, making it a competitive technology in the energy market. Using solar to power your business leads to less energy waste and lower costs because it’s cheaper.
There are a few ways to explore your solar options. For instance, community solar allows you to buy into a local solar farm. Your business will receive solar credits for the electricity generated by the farm for your share of the community’s energy production. There are many community solar projects across the country that include commercial energy. Your business will have the opportunity to not only save money, but positively increase its environmental impact for years to come.
If you go the leasing route, rooftop leasing brings that solar power right to you. Your business will benefit directly from an on-site array of solar panels, marking your roof as a hotspot for energy savings and carbon reduction.
Learn more on how solar can insulate your business against price spikes.
Re-evaluate your business needs
Preparing your home for winter is one thing, but getting your business in top shape for the season is a different endeavor. It is not uncommon for a business to conduct an energy audit. Identifying ways your business can consume less energy let’s you focus on running your business instead of running down costs.
Bonus? most of these options are of no up-front cost to you.
Catalyst Power lets you harness the power of the sun with rooftop leasing, community solar, and more.
Get your business winter ready and set a meeting with one of our experts today.
