Every penny counts in business, and for that reason, it is necessary to keep on top of energy bills and how much it costs your business per month or quarter. Whether your business is small or large, business owners can make significant savings per year by reducing their energy bills while also playing their part in reducing their carbon footprint.
Smart meters are the newest invention to help residential and commercial buildings cut energy bills in half with improved efficiency and the ability to control water usage on multiple sites.
If your energy bill is fluctuating and doesn't reflect the current usage, it may be time to invest in a smart meter to regain control, but if you’re still on the fence, below are a few reasons why a smart meter will benefit your business.
What Does a Smart Meter Do?
The purpose of any meter, whether it is for gas, electricity, or water, is to track the amount of usage, which a technician or meter reader from the utility supplier will come and record.
However, smart meters remotely collect the data usage and send it to a central system through a secured network, meaning utility suppliers always have the most up-to-date information to bill correctly. Plus, business owners can see exactly how much they are spending on their utility bills.
Benefits of a Smart Meter
Before smart meters were invented, utility meters were read by a person that continually recorded and sent data to the utility companies that then created an invoice with the amount owed, which caused inaccurate readings and invoicing more or less than the actual consumption.
Smart meters eradicate the need for utility meter readers because they automatically collect the data consumption and send it to the utility supplier, providing accurate data every time.
Business owners can now accurately track how much gas and electricity they use through smart meter apps, while also controlling how much water consumption they are using with an AMR (Automatic Meter Reader) from Castle Water. AMR aims to reduce water consumption, improve sustainability, and increase cost-saving.
Set spending goals
Businesses with utility budgets should consider smart meters for budget allocation. Investing in a smart meter allows business owners to manage the amount of usage by setting up a maximum budget spend and reminders. Plus, because they can oversee real-time data, it’s even easier to manage utility expenditure.
Lower Site Costs
Another great benefit of smart meters is that they allow businesses with multiple sites to set up spending limits for each site, which can curb overspending on energy consumption.
Restaurants, for example, are a prime example of having different sites with different expenditures on utility bills. However, with a smart meter, restaurant chains can reduce their energy net spend by as much as 10% with the help of control and modelling features.
Once a smart meter is installed, and you know how it works, the next step is to create behavioural changes within the company and train employees to be self-aware of energy consumption.
Encouraging employees to not leave the water running where necessary, alerting managers of potential leaks, switching off lights before leaving rooms, and also unplugging electrical equipment when not in use are just some of the ways behavioural changes make a significant impact on energy consumption.