In the business world, energy is not just an expense. It is something that business owners must always be aware of, especially in California.
California is one of the states leading the charge for energy efficiency, as demonstrated by the recent solar panel mandate and Senate Bill 49, the “Clean Power, Smart Power” law.
That is why business owners must consider their energy strategy carefully. This is critical, so they can comply with state laws and remain relevant in the constantly changing landscape of the business world.
What should business owners consider in an energy strategy?
Just like any good business plan, an energy strategy must meet the business’s needs. It might change how the business operates in the long run, but it must integrate with the business model effectively.
To make an effective energy strategy, business owners should:
- Track the business’s current energy use. Getting current statistics will help business owners understand precisely what they need to change regarding the current energy strategy.
- Consider the budget. Adjusting the company’s energy use and changing the sources of energy, such as obtaining solar panels, is not inexpensive. Business owners should carefully review their finances and create a budget that efficiently incorporates the new energy strategy while protecting the business.
- Assess a time frame. Determining a budget and the time it will take to implement a new energy strategy are closely related. Integrating new strategies and processes can take time, especially for larger businesses. Create long-term goals for when and how to adopt this new strategy.
- Plan for the effect. Business owners must weigh the benefits and risks of each aspect of their energy strategy. They should also proactively prepare for the response to their strategy and ensure they monitor the implementation carefully. It is often helpful to consider providing incentives throughout different levels of the business to effectively execute an energy plan.
Above all, it is also critical to ensure that the energy strategy aligns with the business’s current and future goals and ventures. While adopting an efficient energy plan is critical, it should not negatively impact the business.