PROTECTING YOUR BOTTOM LINE IN 2021 (AND BEYOND)

By: Jamie Polend, APPI Energy

Cost reduction strategies are always on the forefront for organizations, and one effective way to curb costs is by taking a closer look at one of your biggest cost factors: energy.

Easier said than done though, right? Especially as we continue to navigate the “new normal” while concurrently preparing for what the next phase of “normal” will look like. Let’s take a look at a few of the ways you can reduce costs in 2021, while positioning your organization for improved sustainability and continued cost savings far beyond the immediate future.

Avoid Complacency

Minimizing budgetary risk is appealing no matter the year, but finding cost savings and increasing budget certainty seems more appealing now than ever. A common misconception we encounter is the idea that customers need to be well-versed in energy procurement to realize savings, that the process is time consuming, or that there are no alternatives to their current supply contract. Not true. For starters, you can begin the process at any time during your contract term. The beauty of deregulation is that it creates competition, and competition begets competitive pricing, which is a win for those who opt to shop around.

Light the Way

Lighting is one of the largest electricity expenses in your buildings, which is why upgrading to LED lighting is one of the smartest decisions you can make. With on-bill funding, tax rebates and incentives, significant savings on your energy bill, and little to no operational disruption to install the new lighting, you’re looking at a brighter 2021 in no time...literally and figuratively.

Measure. Manage. Respond.

If you’ve been struggling with keeping track of your organization’s utility bills across all your locations, then an enterprise energy and utility management system will be your new best friend in 2021. Designed for multi-facility customers, the Energy Intelligence Suite allows you to automatically capture utility bills across all your locations, provide usage reports to help identify opportunities for improved efficiency, and compare operations for potential system-wide improvements.

Embrace the New

Renewables are on the rise. Buying electricity from renewable sources has been a trend amongst banks for several years now, with organizations setting goals and benchmarks to become carbon neutral in x-amount of years. Whether you are environmentally or financially motivated by what renewables can bring to your bank, there is no denying renewables will continue to gain momentum in 2021, and well beyond.

Take a Holistic Approach

Short on bandwidth? An extension of your team that can manage all of your energy-related needs, from negotiating a new electricity supply contract, to securing RECs, to managing larger energy efficiency and sustainability projects not only saves you money, but time as well. Energy solutions are varied and plentiful, but with the right partnership in place, you’ll focus on the beneficial outcomes far more than the logistics and legwork needed to implement them.

A great place to start is by giving our team at APPI Energy a call to discuss the wide array of options available to your organization. We’re here to assist you through the next phase of ‘normal,” with cost saving solutions that are tailored to your needs and goals.

About the author: Jamie Polend is an Energy Consultant for APPI Energy and is the dedicated Energy Consultant for IBA members. He holds an Energy Management Professional (EMP) credential from the Energy Management Association and has been in the energy industry since 2014. Contact Jamie at jpolend@appienergy.com or call 667-330-1158. IBA Preferred Vendor