Research results from Ecova predict that 2014 will be a challenging year for those responsible for managing energy resources. According to the research, 2014 will be the year that forces companies to take steps to improve results and build a total energy and sustainability management strategy to remain competitive.

Cost is Key

In the report “2014: Energy and Sustainability Predictions: Findings from Leading Professionals,” nearly half of the 500 survey respondents said that implementing no-cost and low-cost efficiency efforts are their top priority this year. Cost is the biggest influencer of energy and sustainability initiatives and will play a huge role in the near future as energy and resource prices are expected to rise.  

Energy was the number one target for savings, with water a close second: 70 percent of respondents said that increasing water costs are a concern but also the greatest area of opportunity for efficiency improvements.

Develop a Clear Strategy

As with any significant venture, it is critical to develop a strategy for prioritizing energy conservation measures (ECMs) and managing them. If your company has never embarked on an ECM before and you anticipate some skepticism, begin with a more traditional effort like energy efficient lighting or water conversation measures that may be easier to push through approvals than a plan for more cutting-edge technology, like rooftop solar panels.

Clearly communicating the tangible and intangible benefits of an ECM is also important to get leadership buy-in. Tangible benefits may include something as concrete as cost savings or getting ahead of likely government regulations, while a less tangible benefit may be an improved public perception of your brand that can help with talent recruitment and retention.

With a host of technologies and performance management solutions on the market, the act of managing a building or company’s energy use may become easier. But the cost and regulatory pressures will only increase, and those companies that act now are more likely to incur greater financial and energy savings down the road.

Let Trane Help

Are you looking to make your high performance building more sustainable, energy efficient and less costly to manage? Learn how Trane can help you maximize your return on precious energy resources in 2014.