Martin Daks, NJBIZ
Beginning in April, the City of Hoboken will purchase “100 percent clean, non-polluting renewable electricity” for municipal facilities, according to an announcement from Mayor Ravi S. Bhalla. Besides being eco-friendly, the changeover is expected to be green in another way: delivering estimated savings of 9 percent during a two-year period.
That kind of cost-cutting resonates with business owners, who often struggle with energy expenses. For many small businesses, energy costs rank among the top three business expenses, according to a poll by the National Federation of Independent Business, an advocacy organization.
“Small business owners are not able to adjust the price of their goods and services quickly enough to match potentially steep energy cost increases without hurting their customer base,” warned the NFIB. “Plus, owners are not able to change business practices fast enough to offset the increases. For example, most owners cannot afford to buy new, more energy-efficient equipment if current equipment still has useful life. They are effectively caught in a squeeze that only time and/or good fortune will release.”