Companies create strategies for sales and marketing, employee retention, distribution, and more. Yet many forget to be strategic regarding e...22 September 2022
How Using Renewable Energy Benefits your Business and the Planet6 September 2022
So often in business, multiple priorities pull us in different directions. Making a choice that meets one need can mean sacrificing in another crucial area.
Thankfully, renewable energy can benefit your bottom line while also allowing you to do the right thing for the environment. And the benefits don’t stop there. Here are just some of the rewards that come from switching to renewable energy:
1. Lower Energy Bills
We will start with this one since it is the most obvious benefit of switching to renewable energy: you may see an immediate drop in your monthly bills. After investing in solar or wind energy sources, you will see the benefits every time a new energy bill shows up. That’s great today and even better in the future when you will be shielded from increasing costs. Your on-site renewable energy production will ensure your costs stay low for years.
2. More Reliable Service
Downtime is expensive. If the power goes out, your business can’t continue to run effectively. Without power, your employees and machines sit idle, disappointing customers and not generating revenue. In some cases, products can spoil, or time-based penalties may kick in due to missed deadlines.
In short, power outages are costly. Solar and wind power, especially paired with battery backup systems, mean that your work doesn’t have to stop when the grid goes down. You can keep making money and meeting customer demands even when your competitor’s lights are out.
3. Attract More Business
With more individuals and companies looking for ways to go green, actively working to make your business more sustainable can help you stand out from the competition. Running a more environmentally friendly operation allows you to market yourself to users looking for ways to reduce their carbon footprints and support like-minded companies.
If the competition still contributes to global warming and pollution in easily preventable ways, your eco-conscious choices differentiate you. That may be enough to get clients or customers to sign with you or buy your products over a competitor that has resisted making green choices.
People like to support businesses that share their values. Those solar panels on your roof and the information in your marketing materials about your green initiatives tell them that you share their concerns over the environment.
4. More Predictable Costs
Energy costs fluctuate seasonally or in the face of environmental factors. Weather, political or world events, and changes in regional usage can cause sudden, drastic changes in prices. That may create cash flow problems for a business not prepared for lumpy spending. If a company owns some of its energy generation resources, or is able to pivot as the market changes to avoid higher costs, it is protected from at least some price fluctuations. That can make it easier to budget and predict future costs.
Businesses can often benefit from green energy incentives. As governments try to shift us into a safer, greener future, they often seek ways to incentivize eco-friendly choices. Tax rebates, grants, and other programs can help offset the costs of installing solar panels or making other green choices. A green energy broker may be able to help you maximize these incentives.
A business’s reputation and standing in the community are critical to its success. Investing in sustainable energy makes a statement to your community that you care about the health and safety of those around you. It differentiates you from the competition by showing you to be a forward-thinking community member. Your green energy procurement can serve as a statement about your values.
7. Ability to Sell Back Energy
The rules vary by area, but in many cases, if you generate more power than you use, you can sell it back to the energy company.
That means that in addition to saving you money, your energy investments can create a revenue stream for your business. Not only can that help offset the initial set-up costs and bring the break-even point for that investment even closer, it also means that doing the right thing for the environment could make you more money.
Using renewable energy brings many benefits to companies that are forward-thinking enough to make the switch. It is a choice that benefits your business, your community, and the environment. It also serves as risk mitigation by helping combat climate change and the many associated issues and expenses.
When you find one decision that benefits your business in so many ways, it isn’t easy to think of reasons not to act immediately. Then you can sit back and watch as one choice to use renewable energy saves you money, brings in customers and clients, and helps you feel great about running your operations.
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