How to Save Money by Going Green
Making a commitment to green and environmental principles can have significant financial benefits. Going green can help companies form strong relationships with their customer base, save on energy costs, earn tax rebates, and help cut down on workplace waste. This guide will detail some of the most important benefits of eco-friendly business practices.
- 1. Connect with Your Customer Base
Building relationships with customers fosters loyalty. Sustainability is a strong shopping priority for a significant segment of the population, eclipsing even sales and coupons in importance. This number will likely only grow. According to a recent study by Nielson, millennials especially are committed to eco-friendly shopping, at rates which continue to rise each year.
- 2. Reduce Energy and Water Bills
Green energy can be a simple cost-saving investment. One of the easiest energy improvements one can make is energy-efficient lighting. Halogen, LEDs, and compact fluorescent lamps can use anywhere from 25% to 80% less energy, which can significantly cut energy costs over time. If your place of work is still in the design stage, consider taking advantage of natural light and/or solar power.
Energy Efficient Lighting can Help You Save.
- 3. Cut Down on Workplace Waste
One of the easiest ways to save money is to reduce workplace waste. Paper, ink, lights, and water are all often overused in workplaces. Signs that encourage workers to use these resources responsibly are a simple way to begin to cut down on unnecessary waste. Paperless record-keeping is also a good way to cut down on paper waste.
- 4. Tax Credits
Many local and state governments offer tax credits or rebates for green energy. Ask your attorney to see what rebates exist, and how to qualify for them.
The federal government also offers tax credits to businesses investing in green energy. (https://energy.gov/savings/business-energy-investment-tax-credit-itc). The investments themselves (in solar, wind, and other green energy sources) can also save money over time.
- 5. Green Maintenance
Eco-friendly appliances and cleaning materials can help save on energy costs and improve the health and safety of employees. Green appliances take less energy to operate than traditional industrial appliances, which saves on electricity costs. Eco-friendly cleaning supplies, such as micro-fiber mops which use less water, can also save bottom-line costs. In addition to the financial benefits, green cleaning reduces the amount of potentially unhealthy toxins found in chemical-based industrial cleaners.