Reduce Power Consumption Costs “Big Time” with a Capacitor Bank
From food to fuel, lumber to concrete, utility costs to interest rates, and everything in between; if there is one thing we know for sure – in almost every industry – it is that costs are rising. It is under these economic conditions we can take a step back and look at what we can control, and how to make the best decisions for each dollar spent.
Many of the places we spend money are those that are necessary for life and for business – food, fuel, utilities. We can not go without electricity, but thanks to technology, we can invest in infrastructure that decreases the cost of consumption.
We are electricians by trade and are aware of the rising costs of electricity. Fortunately, our team is educated in and familiar with technology that can reduce power consumption costs over time – one solution to decreasing electricity costs over time, is with a capacitor bank. We recently approached one of our customers about having a capacitor bank installed at their facility to decrease power consumption costs. We had a pretty good idea what the savings would be, based on the nature of this business, but we wanted to make sure we had the full story.
Our Impact Energy technicians connected a power consumption analyzing meter for 2 weeks to log the customers’ power usage. This usage log is done free of charge for the customer. To give us a more accurate picture, we requested the customers' last 12 months of power bills. Our team then processed this data to see if a capacitor bank would create a significant benefit for the customer.
We presented our findings in a proposal which included the project cost, along with our
power savings calculations. The savings turned out to be BIG – with a projected annual savings of $10,232 and a pay back of just 3.25 years.