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HOAManagement.com - The HOA Management Industry Directory
HOAManagement.com - The HOA Management Industry Directory

Efficient Condo Energy Management: The Trick to Bringing Down the Bills

shutterstock_129267746Do you have to pay increased amounts of bills for your multifamily housing? According to a survey, the third largest expense of a condo is energy. Why not take steps to bring this down? Implement an efficient energy management plan, and your bills will be reduced significantly. If you ever analyze your energy usage thoroughly, you will be surprised to see where you can save.

There is just one problem. Many people suspect the virility of energy conversation measures and often do not try their hand at them for fear of failure. The truth is that these measures have been designed after years of research. So cash in on them and increase your savings. Here is what you will have to do:

Formulate a Baseline

Develop a baseline that identifies current usage, costs, and rates. For this, you will have to review your bills of the past 12 or 18 months. Go through them and note down your energy consumption and billing amounts. If during this time, the weather was extremely hot or cold, the costs will be slightly higher than general. Factor these in and then finalize the baseline.

If you have any issues with this, contact an energy management provider. They can help you in creating a reliable and accurate baseline.

Appoint an Energy Management Provider

You can enjoy long-term savings, but not until you make a few worthy investments. Hiring an energy management provider is just one of these. They will analyze your current situation, and accordingly figure out an effective strategy for you. Whichever company you choose, make sure it has a credible name in the market and makes use of proven procedures to evaluate your energy usage. The company should be able to provide you with services like leak monitoring, energy budgeting, weather baselining, benchmarking, and so on.

Figure Out Effective Energy Conservation Measures

There are many energy conservation measures out there, but not all are suitable for your condo. Figure them out and implement the most effective ones. The energy management company, which you choose, will help you with this, and will provide you with in-depth proposal for review purposes. You will have to go through these and choose the ones that appear most suitable. Whichever you opt for, make sure you can afford the investment amounts involved.

Consider All Possible Incentives

The government is a little generous to all those people who implement energy efficient practices. There are many tax benefits and incentives available, some of which are partial and others full. See if you can qualify for any of these because they will decrease your investment amounts considerably.

Track Your Progress

Until you track progress, you will never be sure if your energy conservation measures were effective. Do this on a regular basis, and make sure you achieve all your energy milestones and goals along the way.

Act on the above steps, and your efforts will eventually turn into results.

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