What are retailers doing to address rising energy costs?
Energy costs have long been a significant overhead for retailers. With recent escalations in prices and the pressing need for sustainability, there has been a new impetus for retailers to re-evaluate their energy consumption patterns. Retailers in the UK have been making noteworthy strides to reducing their consumption (and spend). In this post, we will explore some of the pioneering efforts the sector is making to curtail their energy expenses, without compromising on their service quality.
1. Investment in Energy-Efficient Equipment
Many retailers are realising that a considerable amount of their energy costs come from outdated equipment. They’re now investing in energy-efficient appliances, lighting, and HVAC systems to cut down on energy usage. For instance, the switch to LED lighting alone can reduce energy consumption by as much as 90% compared to traditional bulbs.
2. Harnessing Renewable Energy
Renewable energy sources, such as solar and wind power, have become viable and cost-effective solutions. Retailers are tapping into these sustainable options either by installing their own infrastructure or by purchasing energy from green sources.
3. Behavioural Changes and Staff Training
Sometimes, the most straightforward measures can yield significant results. Retailers are educating their staff about energy conservation, encouraging them to turn off lights and equipment when not in use and adjusting thermostats responsibly.
Case Study: Sainsbury’s
Sainsbury’s initiated a campaign where they educated their employees on the importance of energy conservation. Simple actions, such as ensuring doors were kept closed and turning off equipment, led to a noticeable reduction in their overall energy bills.
4. Exploring Alternative Cooling Methods
Sometimes, the most straightforward measures can yield significant results. Retailers are educating their staff about energy conservation, encouraging them to turn off lights and equipment when not in use and adjusting thermostats responsibly.
Case Study: Asda
Asda introduced ‘hydroloop refrigeration’ systems in some of its stores. This system uses water-cooled technology, proving to be 50% more energy-efficient than the traditional methods, representing a significant step towards energy conservation.
5. Implementing AI-based Energy Management Systems
By employing advanced energy management systems, retailers can monitor, control, and optimise energy usage across their outlets. Systems, such as EMMA AI, can monitor energy usage in near real-time and provide businesses with the advice, stats and action items needed to significantly reduce their bills
Conclusion
As energy costs rise, there is a silver lining. It’s pushing retailers to innovate, adapt, and embrace sustainability more than ever. The efforts taken by these retailers not only help in reducing operational costs but also play a crucial role in conserving the environment. It’s a win-win for retailers, consumers, and the planet.