Going green not only conserves natural resources, it can also save you money, and not just because your costs are reduced. Some energy-efficiency tax credits signed into law recently are still in effect. These credits are available to consumers for the purchase and installation of energy-efficient appliances and products, as well as the purchase of fuel-efficient vehicles.

The tax credits allow consumers to reduce their tax bills on a dollar-for-dollar basis. According to the U.S. Department of Energy, consumers who purchase the most fuel-efficient vehicles could reduce tax liability by up to $3,400, and those who install certain products like energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in the home can receive up to $500 off their federal tax bill.

Several specific tax benefits for a home include:

• $150 for installing a highly efficient furnace or boiler.
• $200 for installing energy-efficient windows.
• $300 for installing a highly efficient central air conditioner, heat pump or water heater.
• Up to $2,000, or 30 percent of the cost, for the purchase of solar water-heating equipment, which does not apply to equipment used to heat swimming pools or hot tubs.

Businesses may be eligible for credits if they:

• Install qualifying solar equipment.
• Manufacture energy-efficient appliances like dishwashers, washing machines and refrigerators.

Refer to the U.S. Department of Energy for details.

Businesses that monitor their energy use and work to reduce it can save hundreds of thousands of dollars on operating costs. The price of energy has been going up, so it pays even more to conserve. For instance the price of a kilowatt-hour more than tripled between the years 2000 and 2005.

These unit changes can mean big dollars for businesses that use large quantities of energy. A business that takes proactive steps to reduce energy use can mitigate potentially catastrophic blows to its bottom line.

A key element to trimming an energy bill is to analyze a firm’s peak usage. Most utilities base their fee on the 15 minutes in which a business’s power use is at its maximum.

By modifying usage to reduce peaks and valleys, a firm can still use the same amount of energy at a fraction of the cost.

In addition to conducting an energy-use profile, you can implement cost-cutting techniques such as installing automated controls; instituting policy-changes on energy use for employees; conducting an audit of energy bills to identify errors; and taking advantage of state- and utility-funded, efficiency-upgrade incentives.

Organizations that implement across-the-board reforms can cut energy costs by up to 25 percent. The key is having a goal that’s measurable, repeatable, and sustainable.
Efficiency incentives are readily available to firms that know where to find them.

For instance, millions of dollars are available to spur energy-efficient new construction and equipment if you know where to look. Also available is cost-sharing for technical assistance to reduce energy use. Some states have even contracted engineering firms to conduct energy-feasibility studies, energy-operations-management studies, renewable-generation evaluations, rate analyses, and evaluations for the potential savings of aggregate energy purchases.

Small businesses that team up with the other firms in their office building can save on utilities. Some firms access energy savings by setting up a panel of organizations interested in purchasing aggregate energy with fellow businesses.

While there may be financing available for making energy improvements, most companies don’t need it. The program won’t usually require outside costs. Eliminating energy and money drains in an energy system creates a brand new cash flow to get started with the bigger stuff.

Tenant Representation Flo Chart by Michael Coretz