Renewable energy is the future of our planet and a big part of what can save it. The technology has been around for decades, but now that we are starting to see some momentum in renewable power generation, businesses need to be on board as well.
Renewable energy is an important step for businesses to take. Renewable energy benefits the environment and can save money on utility bills.
These days, relying on renewable energy is about more than just saving money on electricity; it’s also about meeting consumer demand and surviving in difficult economic times. A stunning 96 percent of participants in a recent Fulterra poll of customers in the United States and the United Kingdom said that activities like shopping ethically might make a significant impact to the environment.
Furthermore, according to a research conducted by IBM and the National Retail Federation, approximately 70% of consumers in the United States and Canada believe it is critical that the companies they support be sustainable or environmentally friendly.
What organizations are setting the bar for renewable energy, and how might the big move benefit you, your staff, and your clients or customers if your company is ready to make the changeover?
Companies that are setting the standard
Intel, Apple, and Walmart are the only three firms setting a high bar when it comes to renewable energy use. Intel is the biggest corporate buyer of renewable energy in the United States, depending on it for 100 percent of its operations over the previous several years.
Apple, on the other hand, has a thorough climate change strategy in place and has just committed to utilizing 100% renewable energy. Walmart, too, has ambitious ambitions to reduce greenhouse gas emissions, with a target of using renewable energy 50 percent of the time by 2025.
Advantages for Small and Medium-Sized Enterprises
Small and medium companies who want to switch to renewable energy sources like solar may be concerned about the expense of installing commercial solar panels. While overall prices may vary depending on the size and kind of system installed, businesses should look into the many government programs and incentives that can help them save money on commercial panels.
A business solar system costing over $80,000 pays for itself in little over six years and provides a 14 percent internal rate of return thanks to tax benefits, bonus depreciation, and energy cost savings each year.
Improving Your Brand’s Image
The New York Reputation Institute found that customers chose roughly 60% of the items they purchase based on brand awareness and reputation, thus relying on renewable energy may help your brand reputation in a variety of ways.
In comparison to the broader market, a strong reputation increases referral rates by 6.5 percent, increases sales by 5%, and doubles the quality of performance. Using renewable energy might help you promote your organization as one that cares about the environment.
This is due to the fact that renewable energy sources such as hydroelectric, solar, and geothermal all need more people than conventional fuels. As more businesses choose renewable energy, the number of potential employment in the field will rise.
Renewable energy sources are more consistent and readily available than conventional energy sources. may also improve client loyalty by reducing service interruptions.
If you own a small or medium company, it’s important to look into grants and other types of assistance that might assist you in making the move to renewable energy. Because contemporary consumers place a high value on sustainability, turning green may increase customer loyalty for a variety of reasons. One is the beneficial influence you will have on the environment. Higher referral and sales rates, as well as the development of new employment for community members, are further factors.
Renewable energy is the use of natural resources such as sunlight, wind, rain and geothermal heat to produce electricity or heat. The advantages of renewable energy are that it is more environmentally friendly than traditional sources, and it’s not limited by availability.
Frequently Asked Questions
Why is renewable energy good for business?
A: Renewable energy is good for business because it provides an unlimited supply of electricity. It also creates jobs, has no harmful emissions, and is less expensive than traditional forms of energy like coal or nuclear power plants.
Why should businesses embrace sustainability?
A: Businesses should embrace sustainability because it can be a great way to get ahead of the curve. When businesses begin to adopt more sustainable practices, they are able to grow at an exponential rate and stay competitive in the market. Additionally, people who work for these companies will have a cleaner environment that is better suited for living due to less pollution being produced by all those business activities happening on-site.
What are 3 advantages of renewable energy?
A: Renewable energy sources are able to produce electricity without any pollution or greenhouse gas emission. They also provide stable and reliable power, unlike the supply of non-renewable sources that fluctuates greatly in quantity
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