What are your SLAs for RTO and RPO? If you do not have SLAs for these items you are most likely either using more money than your business wants you to, or you are risking business continuity by not being able to recover essential data.
Dealing with lack of disk space for backups may be this morning's problem, but you really need to deal with aligning your SLAs with what can be delivered.
If your business is happy to have 12 hours data loss on SharePoint, then there is no need for these databases to ever have been in Full recovery mode.
If your business reckons it will cost $1m for every minute of data lost in a recovery, then you need to tell your boss he is currently exposed for $720m of costs until he can get you $20k more disk space. It should get their attention.
Original author: SQL Server FineBuild 1-click install and best practice configuration of SQL Server 2017 2016, 2014, 2012, 2008 R2, 2008 and 2005. 1 Dec 2016
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Disclaimer: All information provided is a personal opinion that may not match reality.
Quote: "When I give food to the poor they call me a saint. When I ask why they are poor they call me a communist." - Archbishop Hélder Câmara