Energy Costs and Calculations
The cost of any piece of kitchen equipment is not merely in the initial investment, as you well know. You consider the product price, maintenance costs, and energy usage when considering the financial impact of any new appliance on your bottom line. Taking the time to estimate and calculate the lifetime cost of any appliance is simply good planning on your part, but many are unsure of how to approach this extended outlook and simply invest in products based on hearsay, promises, and predispositions. When considering energy efficient products, the lifetime savings can be substantial! Let’s take a look at how energy efficient appliances can benefit your bottom line as well as how to calculate the true impact on your energy costs.
EnergyStar.gov says, ‘Restaurants use about five to seven times more energy per square foot than other commercial buildings. High-volume quick-service restaurants (QSRs) may even use up to 10 times more energy per square foot than other commercial buildings. As energy costs increase, investing in energy efficiency is the best way to protect your business against these rising prices.’ With this financial sinkhole operating in your restaurant, it behooves any manager to look at ways to decrease the costs of energy consumption!
In fact, many of your day-to-day appliances can actually be replaced with EnergyStar models, increasing energy efficiency and decreasing your energy costs! Years after the initial investment, these energy efficient appliances will continue to save your restaurant money, and the return can be upwards of 30%. To calculate your potential savings over the lifespan of your equipment, go to FishNick’s Energy Cost Calculator and compare your model with energy efficient options to see what your savings could be.
CKitchen also recently discussed potential rebates and tax credits available to restaurants who choose energy efficient appliances and products, helping to pad your bottom line. With local, state, and federal incentives for energy efficiency, the initial investment in an energy labeled appliance may easily be made up in these rebates and credits!
The Sustainable Foodservice website also notes another good point: ‘Even if your organization is not in the market for new equipment, it is a good idea to have an energy efficient equipment replacement plan for potential equipment failures. A replacement plan will give you an easy resource to reference and purchase energy efficient equipment when a piece of equipment goes out on Friday night rather than grabbing the first unit available. A replacement plan can be as simple as a few web browser bookmarks... or detailed enough to include current equipment and potential future replacements.‘
If you haven’t already considered making your kitchen a little greener and are offput by the initial cost of energy efficient equipment, consider the lifetime savings compared to your old models and make a plan for future investments!