Keeping your business profitable is a top priority. However, you can also focus on reducing your impact on the environment. Utilize the following green initiatives to save money in the long run while doing your part to lower your company’s carbon footprint.
Installing Solar Panels
If you’ve got a surplus of cash and want to do something that will really pay off in the long run, consider installing solar panels. Solar panels are a great alternative to traditional energy sources, as they harvest the energy of the sun rather than burning fossil fuels. And if you live in an area with high sun, you could gather enough electricity on a daily basis to power your entire business operation. This means you won’t have a monthly utility bill. Even better, you may be able to sell your power to the electric company, boosting your income.
The only downside of solar panels is that they cost a lot to install — about $15,000 to $25,000 for a 5-kW system. However, federal tax credits can save you some money. As well as you’ll be able to write off 30 percent of the installation costs before December 31, 2019. Your state might offer additional local incentives, so always check to see what other benefits you can reap.
Adding a Smart Thermostat
Whether your business operates out of your home or at a separate location, controlling the temperature is vital. Heating and cooling costs account for the majority of an energy bill. So getting the most out of your HVAC system can really lower your costs per month. In addition to performing regular maintenance, consider installing a smart thermostat.
Smart thermostats can help you save anywhere from 10 to 15 percent on your heating and cooling bill each month. They do this by monitoring your activity and temperature preferences. Whenever you leave the building, the thermostat will automatically adjust the temperature to reduce energy usage.
Introducing a Recycling Green Initiatives
Not only does recycling help reduce waste and prevent valuable resources from sitting in a landfill forever. But it can also save you money. Reusing materials eliminates the need to buy costly supplies on a regular basis. Even better, you can get money for some of the materials you recycle, such as scrap metal, bottles and cans, car batteries, ink cartridges, and electronics.
Statistics show that Americans only recycle about 34.3 percent of their garbage, meaning there is a lot of room for improvement. Start this initiative in your office by placing bins for bottles and cans, paper, plastic, and other products. If your local waste disposal company doesn’t collect these items, make a trip to a recycling center to dispose of them.
While these are three of the most important green initiatives for businesses, they aren’t the only ones. You also might want to consider going paperless, traveling less and allowing employees to work from home. Even if you just start with one of these tips, you’ll quickly begin to benefit from the cost savings. Moreover, the environment will thank you.