With stiff competition from unconventional retail outlets such as Amazon and ebay, and rising energy prices, conventional retail outlets are fighting an uphill battle to stay in business. Given the increased cost effectiveness of the unconventional retail business model and the increased value add in adapting new technology, conventional retail outlets are seeking out ways to decrease their costs and increase their bottom line. Conventional North American retail companies spend approximately $20 billion on energy each year. A 10 percent reduction in energy costs for the average full-line discount retailer can boost net profit margins by as much as 1.55 percent and sales per square foot by $25. With its ultra-high impact to the bottom line, investing in energy efficiency has become compulsory for conventional stores to cut down costs and boost profits.
Star Energy is dedicated to helping retailers increase productivity and profits while reducing their energy consumption. Our comprehensive energy audits examine all aspects of a retail outlet's energy consumption. We examine utility bills, inspect HVAC equipment, review maintenance procedures and systems, and analyze building envelopes to accurately gauge your overall energy consumption and measure the environmental impact of your operation.
Armed with this information, we work with retailers to develop clear-cut, actionable energy and maintenance strategies. We not only identify various energy conservation measures but also provide retailers with tools such as project financing, implementation management, and incentive management to assist them in implement various identified energy conservation opportunities.
Solutions for increasing the energy efficiency of your operation include utilizing new technologies; replacing outdated and oversized equipment with properly-sized, high efficiency models; utilizing alternative fuel sources and developing no-cost and low-cost strategies to reduce the amount of energy you use, lower your carbon footprint and boost profits.
It can't be overstated that increasing the energy efficiency of you operation is the most effective way to reduce your overall operating costs. Retrofitting older equipment with new, energy-saving technologies is a cost-effective way to save money. For example, a major issue with retailers is scheduling and commissioning of various systems on the floor. Re-commissioning of all these systems could potentially result in approximately 20 percent annual energy savings. Replacing inefficient lighting with high-efficiency bulbs and installing timers and motion detectors can save up to 50 percent on lighting costs.
In addition to providing sustainable and practical solutions for increasing energy efficiency, Star Energy also provides training and tools for the ongoing monitoring and evaluation of energy use, which alone can reduce your overall energy costs by up to 15 percent.