Reduce Energy Costs

MoneyWatch for February 2007
Share

No one likes to receive the energy bill every month, but it is a necessary expense for living and for running a business. This expense is sometimes overlooked by home and business owners because people take for granted its daily use. There are several energy-efficiency tips that will cut energy costs, and won’t involve spending a lot cash. Some tips are so simple they won’t cost a penny.

Home and businesses owners can establish an energy management plan that can save money every year, especially in the winter season.

Common opportunities for energy savings include addressing:

Heating, cooling, and lighting systems that operate at full load when not needed.
Problems with heating and cooling systems that lead employees to use their own personal heaters or fans.
Inadequate maintenance of heating and cooling systems.
Understanding the efficiency of your building(s) and the opportunity for cost saving improvements.

Five steps to prepare for winter and throughout the year:

1. Establish the energy use of your building(s) and set a savings goal.
2. Inspect heating equipment now and perform monthly maintenance
3. Turn back, or turn off heating and cooling equipment when not needed
4. Get the occupants involved
5. Improve lighting systems

Resource: Energy Star

For example, in 2005, Marriott International conducted a comprehensive, systematic evaluation of all their operating systems at their hotels. Marriott’s energy expenses actually decreased by 5 to 20% that year.

It pays to learn about your options. Below are several resources that can help cut your energy costs.

Local and State Resources

Ohio Department of Development: Monthly Tips
Ohio Department of Development: Home Office and Home Electronics
First Energy - Ohio Edison: Get Help With Saving Energy
Dominion: Energy Efficiency at Work
American Electric Power: Cold Weather Energy Savings

Cleveland Area Builders: Call (440) 946-7191 to Arrange an Energy Star Presentation at Your Office.

National Resources

Bank Rate: Energy-Use Myths Exposed
Energy Star: Guidelines for Energy Management Overview
ESP Energy: Products To Reduce Energy Costs
Garden Gazebo: Plants Can Reduce Energy Costs
Personal Money Management: Reducing Energy Costs

Support for MoneyWatch is made possible by Charter One Foundation.

Research assistance for MoneyWatch is from Cleveland State University Nance College of Business Administration. Information on the Nance MBD program is available here.