Energy Efficiency Will Be Big Business In The Expanding Marijuana Industry
Once upon a time I had a decent sized marijuana garden. It was tiny compared to some of the industrial marijuana gardens that are populating states like Oregon, Colorado, and California. However, it was larger than the average, using up an entire two story, five bedroom house. I remember the first time I got an electricity bill in the mail that was over $1,000. To say I had sticker shock was an understatement. It was then that I realized just how expensive growing marijuana indoors could be, and why so many large scale growers stuck to outdoor cultivation. Per Marijuana Business Daily:
Outside of licensing fees, energy ranks as one of the top expenses for marijuana cultivators in many states – in some cases hitting $10,000 or more a month for large grows.
The high cost of electricity used to power grow lights, heaters, fans and other equipment necessary to produce marijuana can significantly cut into cultivators’ profits, which they then pass on to distributors, dispensaries, retailers and, ultimately, customers.
With power needs rising as the industry balloons and cultivation sites increasingly moving from mom-and-pop operations to large-scale facilities, many growers are exploring alternatives to producing cannabis in warehouses and implementing technology that helps lower energy use.
I get asked constantly what I think are good marijuana business ideas and how people can make a lot of money in the marijuana industry. One way right now, and especially in the future, will be energy consulting. If you have a background in engineering, and especially if you have a background in energy, you should consider starting an energy efficiency consulting business in the marijuana industry. You will have a virtually never ending supply of business because every indoor marijuana grower in the industry is likely looking for ways to cut back on energy costs.