Overhead energy expenses are an inevitable cost of doing business, but this does not mean they need to eat too far into your bottom line.
Energy is necessary for everything from keeping the lights on in your office to maintaining a comfortable temperature within the building. These costs are inescapable, but they can also be kept to a minimum. Limiting business overhead is one of the best ways to increase profits because it is a matter of more sustainably conducting your operations.
This is why tankless water heaters can be so useful in limiting these overhead expenses. It costs a lot to heat water each and every day. According to the Department of Energy, water heating is the second largest utility expense, accounting for about 14 to 18 percent of a utility bill. But for some, justifying such a replacement is still difficult.
Why you should invest in sustainability
Deloitte noted that it has undertaken efforts to boost company sustainability for a number of reasons, with financials being the bottom line. The company expects that the cost of energy going forward is going to become more unpredictable, especially as inefficient and dirty power plants shut down. While there are new power plants that will take their place, the expenses with bringing them online are expected to be passed along to the consumer.
"To insulate your business from energy-related challenges and price shocks, it's essential to develop a broad energy management strategy," wrote Rebecca Ranish and Andrew Clinton, the Director and Specialist Master, respectively, at Deloitte Consulting.
One of the recommendations that the consultants offer is to find the hotspots for improvement. Given that hot water heating can be so expensive, this makes it a great place to start.
Why use a tankless water heater?
Tankless hot water heaters are among the most efficient water heaters on the market today. That can achieve a thermal energy efficiency rating of 99 percent, compared to just 65 percent for tank heaters. On top of this, they are the longest lasting water heating solution on the market today.
This can reduce your water heating expenses by up to 50 percent, which leads to massive savings depending on the nature of your business. No company is the same, so make sure to consult a professional about what kind of tankless water heating solution is right for you.