Businesses are always looking for ways to reduce their energy expenses, stay competitive, and meet both industry and internal sustainability goals. We constantly tell clients that the key to meeting those green business goals is to incorporate many tools and find energy solutions in a number of ways, rather than just looking for a silver bullet. One of the technologies we’re implementing more and more often is geothermal.
What is Geothermal Energy Good For?
Geothermal taps into the constant heat generated by the core of the planet. That internal heat is constant, generated by the molten iron core that makes up the center of the earth, geothermal energy is a renewable energy source with loads of potential.
The Pros and Cons of Geothermal Energy
There are some benefits to geothermal that often go overlooked. In addition to being renewable, geothermal is an option in more places than you think. More than 50% of the sun’s energy is absorbed by the earth’s surface. However, geothermal is much more efficient in areas in close proximity to geothermal activity.
Even if geothermal is an option in most places, it is worth noting that not all geothermal is created equal. The most common application of geothermal technology is via a heat pump. Most commercial geothermal heating units cost somewhere around $30,000 or more, but with a large impact; most of these heating systems can reduce your energy bill by at much as 80%. That means a short-term ROI that also provides plenty of positive impact on the earth itself, too by reducing or eliminating the need for fossil fuels.
Geothermal Grants, Programs, and Tax Deductions
Many municipalities, states, and even federal programs offer a number of options to make financing geothermal heating more accessible for businesses. Some notable federal programs include those associated with EnergyStar, the Small Business Environmental Assistance Program, and the US Small Business Association. Keen Technical Solutions also works with clients to identify and pursue more local, regional, and state funding opportunities to make investing in renewable energy sources like geothermal more affordable.
Commercial Benefits of Sustainable Energy
Investing in geothermal and other renewable energy sources does more than just save money in the long term. There are some substantial benefits, including:
- More than 58% of consumers are more likely to support businesses with environmental programs and renewable energy practices
- Businesses with sustainability and green energy programs are more successful in recruiting and retaining a strong workforce
- Business leaders who invest in renewable energy outperform those who do not by more than 25% in the stock market
For goods-focused businesses, savings come out in the bottom line. A 10% reduction in overall energy costs, for example, can boost net profit margins by 1.55% and increase sales per square foot by $25. In the restaurant industry, that same 10% energy reduction can boost net profit margins by 4% and sales per square foot by $17.
Geothermal Has a Part to Play in Your Renewable Energy System
Geothermal heating can contribute to your complete renewable energy system by contributing to lowered heating expenses. This can help open up new opportunities to increase energy efficiency throughout your facility by improving air circulation and ventilation, implementing energy storage capabilities, and using solar panels to let the sun replace your current reliance on the grid-scale utilities.
Get More from Less with Geothermal Heating and Geothermal Energy
Learn about effective ways to utilize energy from the earth’s core with Keen Technical Solutions. We’ll include the applicability and effectiveness of geothermal heating for your location as well as identify ways to better reduce and produce energy onsite to lower expenses and give you more control over the future of your business. Let’s save money and the planet.
Get started and contact Keen Technical Solutions today.