Banana peels are a fantastic source of potassium 42%. They do not contain nitrogen, which makes using them perfect for plants like tomatoes and peppers, which have a low nitrogen need. Banana peels also contain calcium, manganese, sodium, magnesium and sulphur. Soak 1 banana peel in a quart jar for a week. Pour banana-infused water around peppers and tomato plants. Honeydew and passionflower will do too. Throw the banana peel into the compost bin thereafter.