09/11/2024
DecarbonisationHow can I lower energy costs for my commercial property?
With energy bills skyrocketing and the continuing threat of climate change, there’s never been a better time for landlords to think about improving the energy efficiency of their properties. The are several legal obligations commercial landlords must meet, as well as some extra steps you can take to reduce the environmental impact of your properties, reduce energy costs for your tenants and support the UK’s Net Zero aspirations.
Some of the best ways to lower your commercial property's energy costs include:
Upgrade to energy-efficient lighting and systems
Replace outdated lighting with LED bulbs and install smart systems with motion sensors and timers. Modern HVAC systems with programmable thermostats can also optimise heating and cooling based on occupancy patterns.
Improve insulation and address thermal efficiency
Upgrade wall, roof and floor insulation, seal draughts around windows and doors, and install double or triple-glazed windows to reduce heat loss. A thermal efficiency survey can identify problem areas and prioritise improvements.
Install renewable energy sources
Solar panels, heat pumps and other renewable technologies can slash energy bills while reducing your carbon footprint. Specialists can assess your property's suitability and support funding applications.
Conduct regular energy audits and monitoring
Professional energy audits identify inefficiencies and recommend targeted improvements. Installing smart meters provides real-time data on consumption patterns, helping you spot wasteful practices and track results.
What is an EPC Rating?
All energy reductions will impact your Energy Performance Certificate (EPC) rating. An EPC rating is a review of a property’s energy efficiency that considers how much energy your property uses per square metre (e.g. for heating and lighting) and how much energy it loses through poor insulation or other factors. Commercial property developers need to see how much their energy bills will cost if they are renting property or looking to sell the property.
Once issued, the EPC rating will be valid for 10 years. However, due to new UK government legislation commencing in 2025, all property owners' EPC ratings need to be in line with a rating of C or above, meaning if your property has an EPC rating of D to G, then you need to act now by incorporating the methods listed above.
How to check your property is EPC compliant
From April 1st 2023, it became unlawful to continue to let a commercial property with an F or G EPC rating, even if the lease was granted prior to the MEES Regulations coming into force in 2018. Further updates released have indicated these minimum energy efficiency standards for let buildings will be increased to C by 2027 and B by 2030, meaning it is vital you act now to future-proof your properties.
At Eddisons, we manage all kinds of commercial properties and deliver a comprehensive service that ensures your legal obligations are met while minimising costs for the occupiers.
Can I get financial support when lowering my energy costs?
Making changes to lower your energy costs requires investment. Fortunately, we work alongside our sister business, MAF Finance Group, a leading UK finance broker that can provide capital for a range of options that would assist you in reducing your energy costs and meeting the EPC rating you require. These options include, but are not limited to:
- Solar Battery Storage
- Air Source Heat Pump
- Solar Panels
- LED Lighting
- Smart Metering
- Voltage Optimisation
- Electric Vehicle Charging
- Combine Heat & Power solutions
- Power purchase agreements
Some of these options are also considered renewable energy solutions, meaning they are eligible under the annual investment allowance (AIA), which is a form of tax relief for British businesses.
Speak to us today to discover ways to reduce your commercial property's energy costs
The Eddisons Decarbonisation team have been helping businesses and public sector organisations lower energy costs for many years. Not only do we handle the project management side of these upgrades, but we can also help you source funding from government schemes.
Contact us using the form below to discuss your needs with a dedicated expert. We can then go away and build a bespoke plan to help lower your commercial property's bills.
