Aside from reducing the costs of running a business, energy efficiency labels a company as environmentally aware. Many business leaders still fear that making their companies and operations green will drain their profits. This is especially true for small businesses as their number one unpredictable expense is often their energy bill, yet this does not have to be the case at all. If anything, energy-efficiency can improve the company’s bottom line significantly in the long run. A Forbes study found that 87% of consumers will have a more positive image of a company that supports environmental values, 88% of them will be more loyal to such a company, and 92% of them will be inclined to trust such a company.

Energy Efficiency Tips  

Energy-efficient solutions do not have to be expensive at all. Below is a list of a few low-cost and straightforward examples that bring tangible results almost immediately.

  • Energy Audit

They are often offered for free by utility companies. They determine your energy use and offer you a clear outline for ways to save. Moreover, by understanding your usage better, you could find an even better deal. With so many different providers, it is not hard to make the best Pennsylvania energy choice with a rate that suits your needs best.

  • Energy-efficient Office Equipment

Appliances with an Energy Star rating are at least 15% more energy-efficient. Begin with using energy-efficient light bulbs that not only consume less energy but also last more.

Programmable Or Smart Thermostats  

This is especially useful for a 9-5 workplace as you do not need heating or cooling when there is no one at the office.

  • Make Sure Lights Are Turned Off

Sensor lights can help to keep the lights on only when they are needed—lighting doorways and bathrooms when everyone’s at home results in significant energy waste.

  • Fans

You can significantly reduce your energy with fans that much help your HVAC unit work less hard. They’ll be useful during winter too as they will ease the circulation of hot air.

  • Get Rid of Phantom Energy Waste

Many businesses leave their computers on sleep mode, and by doing so, these devices keep draining energy. You can use short memos or meetings to remind employees of this simple habit. This is the first step towards creating a new company culture.

Green business tax deductions and credits  

If you are considering going solar, now is the best time while governments are still offering tax credits and deductions for such ventures. Also, we all know that the secret of becoming wealthy lies in reducing your business taxes.

A tax credit is a dollar-for-dollar reduction in your business tax bill because the credit is applied against your gross income. So if you spend $100 on an energy-efficiency project, your business tax will be reduced by an equal amount. The amount of the tax credit is 30% for solar and small wind, but there is also 10% for geothermal, microturbines and combined heat and power.

Tax deductions are almost as good, but they work after gross income is determined. You can get a deduction of up to $1.80 per square foot of building floor if these measures achieve a 50% reduction in energy costs.

In either case, making the most of tax deductions and tax credits is a great way to reduce your business taxes.

Takeaway  

Businesses can significantly benefit from improved energy efficiency as being environmentally savvy can go hand in hand with saving on costs and increasing profits. Business leaders need to be aware of these options and their consequent benefits. It would be best if you also keep in mind that electricity costs are rising, with the trend forecasted to continue in the years ahead. Therefore, these measures can significantly help a business to remain competitive.