SJBiz_InvestinginGreen_Dept_4_19_Dept 4 / 18 / 19 2 : 50 PM Page 1 form of Solar Renewable Energy Credits that provide annual cash payments for producing solar energy . But the benefits of “ going green ” extend far beyond finan - cial incentives and cost savings . “ Today , adopting responsible Investing business practices with renewable solar energy gives businesses across all industries a competitive advantage in the market - place , ” Connor adds . “ Sustainability and corporate social re - sponsibility are important components of a business ’ brand identity … consumer trends to patronize businesses that operate responsibly were once considered a preference , and are now a in Green w demand . ” As such , he notes that more and more businesses are How to adopt cost - saving green business finding that “ green ” credentials are becoming a powerful force y driving consumer purchasing decisions . practices within your company rgto “ Studies consistently point to the fact that consumers are promote sustainability . [ By Jennifer Lesser e ] willing to spend money on a product that comes from a more n Today there are more ways to reduce your company’s sustainable brand , ” Watson agrees . “ Going solar edemon - environmental footprint — and more reasons to do so — strates to both consumers and employees that the company than ever before . Many South Jersey businesses are taking ad - is sustainable and forward - thinking in terms of creative options vantage of “ green ” initiatives that will ultimately both help pro - to increase the bottom line . ” tect the environment and boost their bottom line . The benefits Investing in green energy can even offer the added benefit of investing in environmentally friendly alternatives range from of boosting the value of your property . While exact numbers will improved efficiency and reduced costs to enhanced employee vary with each installation and each property , Watson notes that and customer satisfaction . recent research shows an average increase in property resale Lee Watson , partner / owner and COO of Geoscape Solar in value of $ 5,911 for each kilowatt of solar installed . “ Installations Mount Laurel , notes that solar energy , in particular , has been ex - in New Jersey yield even higher returns because it’s a highly de - ploding since Gov . Phil Murphy signed solar - friendly legislation veloped solar market , ” he adds . that will push New Jersey to drive 21 percent of its energy from Overall , communities are also more likely to embrace and renewable sources by 2021 . As per the new law , utilities must promote companies that exhibit environmental , economic and not meet the new standards by generating renewable energy or social sustainability — and even if a business owner chooses risk paying stiff penal - to take the plunge with an investment in solar , there are lots of buying it from the consumers — or they ties . “ This makes it more likely and advantageous for property other ways to promote sustainability . According to Richard owners to go solar , as they stand to be paid directly for solar Dovey , president of the Atlantic County Utilities Authority production from utility companies , ” he explains . ( ACUA ) , recycling is one of the easiest things that businesses can Jeremy Conner , CEO of National Energy Partners ( NEP ) , a do to have a positive impact on the environment . “ For many solar development company based in Voorhees , agrees that businesses , doing a good job recycling means there’s less trash , solar energy is a lucrative , high - return investment for South which can result in lower tipping fees . … We work with busi - Jersey businesses . When investing in one of the company’s nesses to do waste audits and offer suggestions on how to im - systems — which will last 25 years with warranties — NEP clients prove their recycling programs , ” he explains . The ACUA oper - can expect to experience an average payback period of one ates a 40 million gallon - per - day wastewater facility in Atlantic City , to two years . “ For the life of the solar panel system , busi - which is powered by renewable energy . nesses receive free electricity generated from their system — As a shared service provider , ACUA also offers towns and and most businesses can eliminate their utility bill for 25 years businesses opportunities to utilize its Compressed Natural Gas charging stations for electric or more , ” he explains . Currently , businesses can also take ad - fueling station , green vehicle wash , such as 60 per - vehicles at its facilities and a host of other environmentally con - vantage of incentives for renewable energy , cent in federal tax incentives as well as state incentives in the scious services . “ We strive to continually reduce our environmen - National Energy Partners commercial solar development is the world’s largest roboti - cally - controlled single - axis tracking Photovoltaic field at Mullica Hill Cold Storage in Mullica Hill 36 | SOUTH JERSEY BIZ | VOLUME 9 ISSUE 4 | SouthJerseyBiz.net