It’s essential for businesses to minimize costs on energy consumption, and investing in an energy monitoring system is a smart first step. An energy monitoring system is a mix of software and hardware tools that helps you measure your power consumption and show you insights, which in turn helps you make better decisions with regards to power consumption. Acquiring an energy monitoring system for your organization may come at a cost, but will pay greater dividends thanks to the recently enacted R.A NO. 11285 or the Energy Efficiency and Conservation Act.
What is the Energy Efficiency and Conservation Act?
R.A 11285 took effect on May 24, 2019, and its objectives are as straightforward as it gets – to pave the way for sustainable and stable energy supply; minimize dependence on high imported-fuel prices; and protect the environment, with supporting economic and social developments in mind.
We’ve had a somewhat similar law that already existed in the 1980s that aimed to urge businesses to adopt energy conservation practices, but lacked any real force since compliance was voluntary. On the newly enacted law however, mandates compliance.
What does it mean for my business?
- The Good
Businesses who are complaint with R.A 11285 are entitled to certain incentives, such as income tax holidays and duty free importations. They may also seek technical assistance from government agencies on development and implementation of their energy efficient technologies.
- The Bad
This new law has some real force to it in a way that it punishes non-compliance with higher penalties and mandatory jail time to make sure that nobody cuts corners and ensure that energy conservation practices become the norm. Given the perks of complying with the standards of the Energy Efficiency and Conservation Act, getting an energy monitoring system for your business sounds all the more appealing because of the enhanced rewards that businesses will reap. It’s simply a win-win.