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The top 5 signs you’re overpaying for your energy solutions.

The top 5 signs you’re overpaying for your energy solutions.

I’ve had the opportunity to meet with a lot of organizations throughout the U.S. about their past and present energy solutions.  It’s been a lot of fun to hear about their success stories and challenges they’ve faced along the way. As leaders in the Energy Age, our team also hears a lot of stories about failed energy solutions from big to small. Unfortunately (or fortunately for some), it’s too easy to pass blame in our industry or just let costly solutions continue to run rampant.

Don’t be another victim.

Taking control of your resources is how you win in the Energy Age.

Use these five tips to help identify where you may be overpaying for your energy solutions.

1.) You have a solution but do not use it. One thing I hear a lot about is systems that have been purchased over the years but have never been really used or are only partially implemented. When I hear these stories, I can’t help but think about all the wasted money, resources, and lost opportunities within the organization. These same organizations are also smart enough to see the same things I do. The fact is, the most expensive energy management solution is one you never tap into.  The investment has already been made and for every hour that passes, a mountain of data is collected and no one is there to leverage it.

2.) No one is looking out for you. The amount of organizations that do not pay attention to their energy usage or spend is surprising. In almost every case, I’ve seen these organizations get taken advantage of by big promises or by doom-and-gloom sales pitches that pressure them into expensive solutions.  Not having a trusted unbiased advisor on your side can prove to be costly.

3.) Your solutions do not leverage each other There are a lot of different solution providers in the energy industry and each can offer something a bit different. We’ve proven the benefits of having an overarching program that binds the pieces together. It comes down to communication.  Each group won’t be able effectively communicate their goals or intensions and may not even understand yours.  This usually results in dollars left on the table or exposure to unintended risks.

4.)You do not have an accurate way to measure performance It’s easy to spend lots of capital on projects and solutions, but far more difficult to prove savings in our industry. If you do not have accurate baselines, KPIs, and the appropriate normalization, you’ll waste your time guessing and risking your next move.

5.) You’re afraid of change Technology has influenced nearly every industry, and the energy industry is no different. There is a lot of change in our industry, and technology is allowing us to manage our energy cheaper and easier. Antiquated systems and procedures can allow for missed opportunities and wasted resources.

 

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