There are four ways to take advantage of green incentives to help you run your business more cost effectively:
- Energy savings
- Tax credits
- Longer maintenance cycles – less labor/maintenance and material costs
- Meeting or exceeding regulation compliance – no penalties or taxes
A great way to tell this in a story is to just point out the utility bills before implementation and the reduced bills after. Another savings opportunity to point out that isn’t so obvious is the heating and air conditioning expenses. For example, if current equipment runs very hot, the AC bills will be higher and your product may reduce that significantly. Or in the winter, if methods are used to siphon off that heat into the office area, the heaters may not run as much.
Many states in the country are now offering tax incentives to retrofit or upgrade to greener solutions. Along with some of the federal stimulus offered in recent bills, the ROI (Return on Investment) cycle maybe much shorter than you faced before. Including these tax credits properly in your story, makes a much larger savings number.
Longer Maintenance Cycles – Less Labor/Maintenance and Material Costs
Many green products require less maintenance or longer durations between maintenance activities. These types of actions result in less cost to the user and can be quantified for a green story in several ways:
- Buying less product or less frequently
- Requiring less work force to conduct the maintenance
- Products used to do the maintenance being less toxic, so less safety equipment is needed, etc.
Meeting or Exceeding Regulation Compliance – No Penalties or Taxes
Sometimes the cost of not using green products will incur costs on the client. By following regulations, the customer will not have to pay penalties or additional taxes. This aspect would be more of cost avoidance. In recent days, the carbon tax cap has been prominent in the news. By using products that create less carbon, the user may actually have carbon offsets to sell.
Any combination of the 4 methods above can be used to craft the cost savings portion of your green story. Obviously, the more ways you can express cost savings, the stronger the story. In the next article for this blog, we will discuss how your green products/services provide your customer a competitive edge in your story