Going Green: Get Government Support
Over the past 15 years, the government has found ways to prioritize initiatives that encourage businesses to go green. And while administrations change and policies come and go with them, this remains true: the US offers incredible benefits and incentives to those who choose to go green and even more for those who go into business with a green agenda.
The Energy Policy Act of 2005 was a landmark piece of legislation that you might not have thought about since 2005 - if you’ve ever thought about it at all. Its passage marked the first major change in energy policy enacted by the federal government in nearly ten years.
The act focused on curtailing energy usage and did it by opening up nearly $14 billion dollars in tax breaks and incentives for green initiatives and businesses.
Then, in 2009, the American Recovery and Reinvestment Act was founded, which allocated over $100 billion dollars into energy research, tax credits and other resources to encourage environmentally conscious projects and businesses.
Now, you can visit the Small Business Administration’s website and you’ll unlock a treasure trove of loans, tax breaks, grants and other resources allowed by both the federal and local government for businesses that are environmentally conscious.
At the moment, there are tax credits available to small businesses (and consumers alike) who opt to invest in alternative energy. In plain language, if you decide to install solar panels on your office building, you could qualify for a 30% tax credit.
There are also tax credits you can qualify for if your equipment is environmentally friendly. Think back to the last time you shopped for a major home appliance, like a washing machine. You probably have seen Energy Star logos and such on certain appliances, with other touting how they can qualify you for tax breaks.
Same goes for business-grade appliances and machinery. Do your research the next time you need to replace something, even with vehicles if you need them for business. A few company car Priuses, or fuel efficient delivery trucks can really help a lot come tax time.
And all these make sense for your business without really impacting what your business does, or the products and services it provides.
To take this a step further, you might want to consider looking into ways to make the consumer-facing portion of your business environmentally friendly. Creating products using a green-process, or, even better yet, creating products or services that are green in and of themselves, can help you save money and widen profit margins.
Now more than ever, consumers gravitate toward businesses that are doing the right thing for the environment and make it easier for them as a consumer to do the right thing themselves.
Have we convinced you to try to make your company green yet? If so, check back for our tips on how you move your operations into environmental sustainability.