(Last updated: 2018)
One of the areas we focus on when assessing a business’s expenses is energy spending. Energy is a costly area, but one that is absolutely necessary for your day-to-day operations. Any measure you can take to decrease energy spending is worth considering.
For many businesses, cost isn’t the only concern when it comes to energy. Many business owners are exploring renewable energy sources both to save money and lessen the environmental impact of their energy use. Is it possible to save and go green? Let’s take a look.
Taking advantage of solar, wind, geothermal, or hydroelectric power can come with a high upfront cost. You can expect to spend several thousand dollars for setup and installation. However, these systems often pay for themselves within a matter of years.
There are also sizable federal tax benefits for businesses who decide to use green energy. Your state may offer additional tax benefits as well.
What if upfront costs of a green energy system are more than you are ready to spend? There are still options for utilizing green power. In some states, you have the option of buying green power. In many cases, you will pay a small premium to take advantage of these services, so it’s important to evaluate your business’s goals and values to determine if this is the right move for you. This tool can help you determine if green power is available for purchase in your area.
The most important thing to remember is that energy is just one part of your business’s expenses. Decisions about energy should not be made alone, but as part of an overall analysis of your expenditures. When you partner with Silverback, we look at every area of spending in your company, including energy. After exploring all of your options, we will make recommendations for you that fit into the bigger picture of how your company operates.
Do you have questions about how going green can cut your costs? Contact us. We’d love to work with you to find an affordable solution that fits your values and your budget.
