Retail stores in the United States consume 20 billion dollars a year in energy that is almost 4% of the energy used in the world. If retailers could harness the power of existing technology, they could reduce this by 15 to 20 percent.
The EPA (environment protection agency) estimates there are an energy savings of up to 3 billion dollars a year in possible reductions for retail stores and supermarkets. Upgrading lighting with LED lights pay for itself in less than three years and can result in a 30% reduction in energy consumption.
The bonus of reducing operating costs is a significate increase in retail profits. Retailers have an average profit margin of around 4%, meaning that most retailers would feel the increase in their earnings almost immediately. Energy is the second-highest expense for non-food related retail.
Climate change and extreme weather impacts energy costs making energy budgets a real concern for retail companies. For example, if a country experiences a 1.8°F increase in temperature, the energy needed for cooling would increase by about 5-20%. The potential return on investment for energy project could be very substantial as we move into an era of rising temperatures.
Big box stores and smaller format mall stores have differing levels of control over their store’s energy efficiency. Approximately 110,000 stores lease space in shopping malls, thus have limited ability to reduce energy consumption. However, these stores can band together to request changes from their landlords. With the overarching concern of climate change, malls can demand energy-saving programs that are supported by their city or state.
One simple and easy way to cut energy cost is to enhance an HVAC system in a larger area like a mall. Incorporating a combined solution like CryoGenX and ElectrogenX can permanently restore lost cooling capacity and reduce carbon emissions, energy consumption, and costs. These two solutions help balance the energy an organization receives while increasing the efficiency of the overall HVAC system by up to 20 percent. That is an energy-saving you can take to the bank.
To learn more about how CryoGenX and ElectrogenX reduce your energy costs, contact us today by emailing email@example.com or calling (601) 214-1133.