Saving Energy and Money By Upgrading Equipment

Joe Bauer

Assistant Vice President

Fidelity Bank

josephb@fidelitybankmn.com

Fidelitybankmn.com

Topic: Banking / Finance

As business owners strive to maintain healthy margins by keeping operating costs low, many are electing to invest in more energy-efficient equipment.  While purchasing new equipment is more costly on the front-end, it is often more than offset by energy savings in the future.  For companies that have recently upgraded to more energy-efficient equipment, the very latest offerings in the market may provide even more savings than was currently available.

Bennett Material Handling is one of the top forklift equipment dealers in the Midwest.  They carry a top brand of forklifts, which are electric and very energy efficient.  They are hearing from customers that the newest forklifts provide additional savings even compared to other electric forklifts.

“There has been a trend moving to electric,” explains Gregg Bennett.  “that’s been going on for a long time.  Our customers tell us they are seeing a 30% savings in energy cost with this new technology.  It’s a dollar savings, but they are also consuming less energy and everyone’s happy about using less energy.”

The easiest way to determine whether or not to make the additional investment in an energy efficient piece of equipment is to look at the payback period.  How long until the amount I save in monthly energy costs equals the amount I paid for the newer, more energy-efficient equipment?  There are certainly other factors, such as depreciation, but a simple calculation of the payback period is a good place to start for any sizeable capital expenditure.

“Our customers like the extended economic life on the new more energy efficient machines, as well as lower maintenance costs and unmatched performance,” Bennett says.  “It’s not just that they’re saving energy and money when they’re using it, but now it’s also going to be around longer.”

In addition to the cost savings, investing in newer, energy-efficient equipment can create other advantages as well.  Productivity will likely improve and a cleaner more efficient work environment can be a deciding factor in landing prospective clients and new hires.  Companies like Bennett Material Handling are enjoying the benefits of a worldwide trend toward investing in more energy-efficient equipment, you should too.