There really is such a thing as a win-win proposition in business—going green. By going green, not only can businesses save the environment, they can save money as well . . . without having to wait for long-term payback from costly green investments like buying solar panels or switching to hybrid vehicles. The Wall Street Journal recently published a supplement offering ten ways in which businesses—and families—can save money now while helping to protect the environment:
1. High-tech thermostats. Programmable high-tech thermostats make it easy to preset a week’s worth of temperatures and give you greater control over your energy bills. The Journal calculated that by installing a $50-$100 programmable thermostat, a company could save approximately $115 in heating and cooling costs in one year, while a company in Las Vegas could save $75—assuming natural gas heat and electric central cooling.
2. Drain-water heat recovery systems. These systems warm water by capturing heat from wastewater as it travels down the drain, and cost $500-$700, plus $100 to install them. Assuming you heat your hot water with natural gas, in New York, by installing one of these systems, you’d save about $120 per year, thereby paying for a $500 system and a $100 installation within five years.
3. Sealing air leaks. Weather-stripping doors ($20) and windows ($10), and electrical outlets ($10 for six) can save enough energy to pay back your investment within two to three years. More costly improvements, like sealing your heating ducts and cooling ducts ($300-$1,000) may save approximately 20% of your heating and cooling bill per year, or up to 10% of your total energy bill.
4. Low-flow fixtures. Installing a low-flow showerhead or faucet ($2-$30) limits the volume of water you can get out of the fixtures, but it also helps you save money on your water heating bill. New showerheads could save you about $115 if you heat water by gas, or $160 if you heat water via electricity.
5. Leasing solar panels. Installing solar panels yourself might cost tens of thousands of dollars, but some companies these days allow you to lease the same system, sometimes with no up front costs. Several California companies will install solar panels for you, then charge you for the electricity they generate. Savings can be about $15 per month, or $180 per year.
6. Air filters. A dirty air filter in your cooling system makes the system work harder to do the same work, thereby using more energy. Installing a new air filter (about $10) can save about 7% in electricity costs per year.
7. Compact fluorescent lights. At a cost of about $3 per bulb, compact fluorescent lights use up to 75% less energy than regular bulbs, and last six to 10 times longer. In Nebraska, a state with some of the lowest electric rates in the nation, installing a compact fluorescent light bulb saves about $0.70 per month, paying for itself in about seven and a half months.
8. Lighting motion sensors. Many businesses have external lights that remain on all night long. By installing a lighting motion sensor on an outdoor light ($50-$60) that turns the light off except for when someone approaches, a company could save about $10 per month in a state with high electricity costs, like New York.
9. Window treatments. Curtains, blinds, and shades aren’t just decorating niceties; they can also cut cooling costs in the summer and heating costs in the winter. Pull-down blinds run anywhere from $5 to $10, and curtains that offer better insulation can cost anywhere from $30 to $150, but in New York, you could save about $15 per month in energy costs, and even more in a warmer climate like Texas, where you could save $40 per month.
10. Attic insulation. Insulating an attic ($500-$700) can reduce the amount of heat that escapes through a building’s roof. According to experts, insulating a house properly can save up to 25% on heating and cooling costs per year, which in New York, for a 2,000 square foot building, translates to about $425.