Free Audit Tool Launched to Help Businesses Calculate Energy Savings

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31 August 2023 | Updated 01 September 2023

In an era of growing environmental concerns and rising energy costs, the pursuit of energy efficiency has become more critical than ever before. ThisWeekinFM is therefore proud to announce the launch of a comprehensive new energy audit tool to support businesses in their journey to net-zero, which is completely free to use.

As businesses and individuals alike seek ways to reduce their carbon footprint and operational expenses, investing in energy efficiency products has emerged as a smart and responsible solution. Not only do these products contribute to a greener future, but they also offer a substantial return on investment (ROI) over time.

Many businesses are creating ambitious net-zero strategies but it can be difficult to know which energy efficiency products to prioritise – and there’s no one size fits all solution to improving a building’s efficiency. 

 

Understanding Energy Efficiency Products

 

Energy efficiency products encompass a wide range of technologies and solutions designed to optimise energy consumption and minimise waste. These products can span various sectors, including residential, commercial, and industrial, and can target everything from lighting and appliances to heating, ventilation, air conditioning (HVAC) systems, and beyond. Some common examples include LED lighting, smart thermostats, energy-efficient appliances, high-performance insulation, and solar panels.

Our tool will help guide you through the information needed to assess the cost and energy savings of each product, supporting you to gain a deeper understanding of the technologies available and how they could impact your business.

 

Simplifying the ROI Equation

 

ROI is a fundamental financial metric used to evaluate the profitability of an investment. But when assessing the ROI of energy efficiency products, it's important to consider both the short-term and long-term benefits. While the initial investment might seem significant, the cumulative savings over time can far outweigh the upfront costs.

To some ROI calculations are simple, but others may find this process daunting – the good news is there’s no need to rely on complex equations to assess your payback on energy efficiency projects. With our simple online payback checker you can quickly get an idea of potential savings without wasting any time. 

 

TRY IT TODAY

 

Why use the Free Energy Audit Tool?

 

With so many options to choose from, it can be difficult to know where to focus your attention to achieve the best results. With our simple online payback checker you can quickly calculate carbon savings and get an idea of potential savings based on real products from actual suppliers.

 

Our free energy audit tool offers a solution that:

1. Is user-friendly and free to use 
2. Calculates ROI based on real products from actual suppliers
3. Allows one-click link to suppliers
4. Calculates carbon savings
5. Produces professional energy saving reports to support buy-in across your organisation

 

Picture: a photograph of a person seated at a desk holding a smartphone. On the desk is a laptop and a desktop screen. On the desktop screen are several icons such as a lightbulb, the recycling logo and leaves. A second person can be seen also holding a smartphone. A pound sign is in the centre of the image.

 

Factors Influencing ROI

 

Several factors can influence the ROI of energy efficiency products:

• Energy Savings: The primary driver of ROI is the amount of energy saved due to the product. A more efficient product will result in higher energy savings, which directly contributes to a more favourable ROI.
• Utility Costs: The cost of energy varies depending on location and the type of energy being used. Higher energy costs can lead to quicker ROI for energy efficiency investments.
• Product Cost: The initial cost of the energy efficiency product plays a crucial role in determining the time it takes to recoup the investment. Generally, products with higher upfront costs might have longer payback periods, but their overall ROI can be substantial over time.
• Incentives and Rebates: Many governments and utilities offer incentives, rebates, or tax credits for the adoption of energy efficiency products. These incentives can significantly reduce the initial investment and accelerate ROI.
• Lifespan and Maintenance: The longevity of the energy efficiency product and its maintenance requirements impact how long it continues to generate savings. Products with longer lifespans and minimal maintenance needs contribute to a more extended period of positive ROI.

 

Long-Term Benefits

 

While ROI is often calculated based on direct financial gains, the benefits of energy efficiency products extend beyond monetary considerations. These long-term advantages can amplify the overall value of the investment:

• Reduced Operational Costs: Energy efficiency products lead to ongoing savings on energy bills, which can substantially lower operational expenses for businesses and households.
• Increased Property Value: In the case of residential and commercial properties, energy-efficient features can enhance the market value and attractiveness to potential buyers or renters.
• Environmental Impact: By reducing energy consumption, energy efficiency products contribute to lower greenhouse gas emissions and a smaller carbon footprint, making them essential tools in the fight against climate change.
• Sustainability and Corporate Social Responsibility (CSR): For businesses, investing in energy efficiency demonstrates a commitment to sustainability and CSR, enhancing their reputation and potentially attracting environmentally-conscious customers.

 

Why Complete an Energy Efficiency Product Audit? 

 

Investing in energy efficiency products is not just a trend – it's a strategic move that can yield both financial and environmental rewards. While the upfront costs might deter some, a careful consideration of the potential ROI, along with the long-term benefits, reveals a compelling case for their adoption. As technology continues to advance and more innovative solutions emerge, the path to maximising ROI from energy efficiency products becomes increasingly accessible, creating a win-win scenario for individuals, businesses, and the planet.

Try our simple free online payback checker to progress your energy efficiency journey today.

Picture: a photograph of a field with solar panels. Wind turbines can also be seen, as well as a cityscape in the corner. A pound sign is in the centre of the image.

TRY IT TODAY

Article written by Daisy Miceli | Published 31 August 2023

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