Uncovering Energy Savings Opportunities: The Ultimate Guide to Maximizing Energy Efficiency in Your Portfolio

January 30, 2024
January 22, 2024
3 minutes
Brooke Skillan
Team Coordinator

Discover the common mistakes asset managers make when it comes to inefficient energy use and learn how to avoid them. Implement these practical tips to optimize energy efficiency, reduce operating costs, and contribute to a more sustainable future for your buildings and business.

Common Mistakes and Tips: Avoiding the Hidden Costs of Inefficient Energy Use

As asset managers, it's crucial to prioritize energy efficiency and avoid the hidden costs associated with inefficient energy use. In this blog post, we will discuss the common mistakes made by asset managers and provide practical tips to help you optimize energy efficiency and reduce operating costs. Let's dive in!

Mistake 1: Underestimating the Financial Impact

One of the biggest mistakes asset managers make is underestimating the financial impact of inefficient energy use. High energy consumption not only leads to increased utility bills but also contributes to maintenance costs, equipment wear and tear, and potential disruptions in operations. It's essential to understand the true cost of energy inefficiency and how it affects your bottom line.

Tip: Conduct a comprehensive energy audit to identify areas of high energy consumption and implement energy-saving measures. Invest in energy-efficient equipment and consider retrofitting older systems to improve overall energy performance.

Mistake 2: Ignoring Common Energy-Wasting Practices

Asset managers often overlook common energy-wasting practices within their facilities. These practices can include leaving lights on in unoccupied areas, running inefficient HVAC systems, and failing to properly insulate buildings. By ignoring these practices, you are allowing energy to be wasted unnecessarily and incurring higher energy costs.

Tip: Implement energy-saving measures such as occupancy sensors to control lighting, programmable thermostats to optimize HVAC usage, and insulation upgrades to reduce heat loss or gain.

Mistake 3: Lack of Monitoring and Control

A lack of monitoring and control is another common mistake. Without real-time visibility into energy consumption and building performance, it's challenging to identify areas for improvement and track the effectiveness of energy-saving measures.

Tip: Utilize energy management systems or software that provide real-time data on energy usage, equipment performance, and building operations. This will enable you to make data-driven decisions and proactively address inefficiencies.

Mistake 4: Neglecting Employee Engagement

Employee behavior plays a significant role in energy efficiency. Neglecting to engage employees in energy-saving practices can lead to increased energy consumption and undermine your efforts to optimize energy efficiency.

Tip: Educate and empower employees on energy-saving practices through training programs and communication campaigns. Encourage them to take an active role in conserving energy and reward energy-saving initiatives.

Mistake 5: Failure to Take Advantage of Incentives and Rebates

Asset managers often overlook the potential incentives and rebates available for energy efficiency improvements. By failing to take advantage of these programs, you are missing out on cost-saving opportunities.

Tip: Research and leverage utility, state, and federal incentive programs that offer financial incentives for energy-efficient upgrades. Partner with an energy management provider who can help you navigate the complex landscape of incentives and rebates.

By avoiding these common mistakes and implementing the tips provided, you can optimize energy efficiency, reduce operating costs, and contribute to a more sustainable future for your buildings and business.

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