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One of the biggest issues circling the media industry now is the environment
and how to protect it. Of course a large part of this protection needs to
come from finding and using renewable energy sources. Now, more and more
marketing efforts are popping up from energy providers who generate one
hundred percent (100%) of electric from renewable sources such as wind
power, hydro, and biomass (plant and animal waste). The question for many
businesses across the country is how to make their energy needs come from
these renewable sources and how much that costs.
There needs to be a clear understanding that while your business may
purchase something called renewable energy certificates, often called “REC’s”,
it does not mean the electricity coming directly to your light bulb is
generated from renewable sources. REC’s are a financial contribution
to the renewable energy industry. These certificates provide funding
to the further development of renewable energy sources. This could be
as simple as paying for construction of a new wind turbine at a wind farm.
Typically, these REC’s may add from one to two cents per kilowatt-hour to
your monthly electric bill in addition to your current charges. The
interesting part here is that large corporations currently purchasing these
REC’s are not taking money from their energy budgets but rather taking the
money from their marketing budgets. The main reason for this approach is
the ability of having renewable sources (or contributing to renewable
sources) making their business “environmentally friendly” and doing their
due diligence to play a role in conservation. This is largely becoming
more and more of an important public relations piece to many businesses both
small and large.
The bottom line regarding renewable energy is most businesses are not yet
required to obtain these types of energy. And currently a lot more money
needs invested into development of renewable energy before it becomes a
cost-effective. This will be a slow change going forward. Lets not forget
right now though, there are some tax incentives and other government
reimbursements that may make going green right now attractive to your
business. To obtain the right incentives and make certain you are getting
all the correct incentives in your local area, consult your local tax bureau
or certified public accountant. Additionally, contact your local utility
company by calling or visiting their website and find out more about what
percentage of green power they are already purchasing. You may be surprised
to find out half the energy bought for distribution to consumers is already
from a renewable source.
Further
questions may be directed to my direct phone line at 724-758-2935.
Christopher Clark, Procurement Analyst
(more point of view articles coming soon)
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