Going green and reducing emissions is a noble task with obvious benefits to the environment. But those benefits can go two ways. Thinking a little more selfishly, how can your business benefit directly by reducing its carbon footprint?
Earn A ‘Green’ Reputation
According to a Neilsen survey taking green initiatives in your business may attract patronage from people looking to make a difference in the environment. In the 2014 survey 55 percent of respondents worldwide said they would pay more for goods that came from a sustainable source.
Not only can a green status attract new customers it can create loyal ones, especially Millennials, according to Forbes.
In a competitive market you have to fight for everything so being the ‘green’ choice can be powerful for your stability and bottom line.
Taking even small steps to reduce emissions will save you money on your utility bills. Adding insulation and repairing windows and doors will save on your heating and monitoring your electrical use with something like a Harmonics Energy Filter will reduce your electrical bill.
If you want to make a big dent then you can focus on lighting. According to the U.S. Energy Information Administration lighting accounts for 21 percent of all commercial energy usage. By retrofitting facilities with LED lighting and installing a Harmonics Energy Filter you could cut your energy usage in half as well as your electrical bill.
Aside from money saved by making your utilities more efficient you can also take advantage of tax deductions for green businesses. Depending on where your business is you can save thousands annually with both federal and state tax deductions for companies that make green improvements to their operations. Take a look at the Database of State Incentives For Renewables and Efficiency to see what’s available in your state.
Boost Employee Morale
Taking green initiatives can have an impact on your employees, too. Introducing energy saving measures and incentives can boost productivity and morale among employees. When people feel like their employer actually cares they tend to be happier working there. Employees especially like incentive programs that reward them for carpooling or biking to work, composting, recycling or using renewable energy in their homes.