As the cost of running business is escalating rapidly, some cost cutting tips might help you to save your precious money. An easiest way of reducing your business expenses is to economize your energy bill. Energy efficient business practices, besides being environment friendly, help small businesses reduce wastage of precious financial resources.
Cutting down unwanted energy usage
Since we work largely in the daytime, we should take advantage of the daylight. Instead of using artificial light, the sunlight can be the source of lighting up your office. Your electronic gadgets should be fitted with thermostats, which would turn on or off automatically. Programmable thermostats are best suited to save energy.
When electronic equipments, such as your computer, are not being use, turn it off. When you leave your office, turn off the lights and switch off all electronic gadgets. Install Energy Star gadgets in your office. These products are capable of reducing up to 30 percent of energy usage.
Use compact fluorescent lamps for lighting up your room after dusk. These bulbs are not only cooler than incandescent and halogen bulbs, but they save up to 75 percent of energy. To avoid overworking your heaters during the winter or your air coolers in the summer, insulate your office properly. Plug all openings that might cause leakage of the heat.
If you are working from your home office, you will not require a vehicle for transportation. However, if your business needs a vehicle, use fuel-efficient vehicles.
Receiving tax credit is the greatest benefit of running an energy efficient business. Unlike tax deductions, which reduce the amount of income that is taxed, a tax credit directly reduces the amount of income tax. IRS allows tax credits for construction of energy efficient homes and for making energy efficient upgrades.
According to the US federal law, by saving 50% energy, homebuilders can get $2,000 tax credit. Manufactures of energy efficient products, such as refrigerators, dishwashers, washing machines, that are qualified for Energy Star, also receive tax credits.