“Green” isn’t a word many often consider when thinking about manufacturing — but that could change soon. From global efforts to reduce carbon emissions to consumers choosing renewable resources, the green push is gaining momentum — and for good reason. Going green has many manufacturing benefits.
3 benefits to going green
1. Save money and materials. When manufacturers prepare in advance to reduce the amount of waste involved in their production processes, they save money on materials and waste disposal. Reusing materials where possible and repairing machines rather than disposing and purchasing new ones can also help improve the bottom line and protect the environment. By recycling waste within the plant, you offer employees the opportunity to take on responsibility for their waste and strengthen pride in their workplace. And don’t forget about material costs: LED lighting, harnessing solar power, and choosing energy-saving devices can significantly reduce overall energy costs.
2. Earn tax credits. When you go green, get rewarded. In the United States, company leaders switching to greener practices can qualify for utility incentives and tax credits for their efforts. Ready to take the leap to the other side where production is greener? Check federal government credits as well as with your local utility providers for information on rebate, reward, and discount programs. Then, invest savings in future programs to greenify. According to Energy.gov, installing solar panels can offer a 30% rebate.
3. Increase sales. Not only can moving to green production methods reduce emissions and waste but it can also improve how customers see your manufacturing business. When they have emotional ties to your company based on shared environmental values, they’re more likely to invest in your products and services. Many are even willing to pay more for sustainably produced products because of how they reflect individuals’ own environmental commitments. In fact, 55% of global consumers are willing to pay a premium for products eco-friendly and socially responsible companies produce.
As emissions regulations inevitably become stricter, going eco-friendly can also keep your manufacturing plant in the green when it comes to compliance. When your company exceeds these expectations, you get a step ahead of your competition in terms of preparing for the future. In addition, having a sustainability strategy helps keep your company at the forefront of the industry as it continuously changes — and you can avoid penalties for violations.