In the last few years, businesses across America have been transitioning to 100% renewable energy sources. This trend reduces our dependence on fossil fuels and helps contribute to a healthier earth. It’s also good for business. Cost-effective renewables are now available in all 50 states, and customers want sustainable energy options from companies they do business with.
What will your company do to join the movement?
Why 100% Renewable Energy is Good for Business
Simply: what is good for the environment is good for business. Renewable energy sources – like wind and solar power – produce less greenhouse gases than fossil fuels. Renewable energy is now the cleanest, greenest, cheapest and most reliable energy option.
It’s good for your bottom line. Investing into a 100% renewable power source saves you money because you no longer have to buy expensive and polluting fuels such as coal and natural gas. By implementing renewables, businesses are reducing risk and avoiding expensive infrastructure, like power lines and gas stations ( which could be destroyed by storms or fire).
Best Ways to Transition Your Company to 100% Renewable Energy
To give you an idea of the business-side advantages of going renewable, here are a few pointers on how to go renewable in your organization:
Promote Your Transition. Businesses, in general, have some of the best resources to promote the clean energy transition. The transition can be communicated via social media, public service announcements, blogs, and op-eds.
Hire a sustainability officer for your company. Sustainability officers can be one individual or a team of professionals focused on developing strategies, tracking progress, and reporting on results.
The Benefits of 100% Renewable Energy
Energy costs are the biggest variable cost associated with the production of goods and services. In fact, the Federal Reserve estimates that every dollar spent on energy can increase or decrease a company’s profits by as much as 7%. Furthermore, if we look at the nearly 300 companies in the Fortune 500, there is a direct correlation between the energy they consume and their bottom line – one study found that on average, companies with more efficient buildings experience a 15% increase in earnings, and a 2016 study showed that for every $1 invested in energy efficiency, companies are estimated to get $1.57 back in the form of reduced costs.
It’s impossible to predict what will happen next. So if you want to be ready for the future of energy, here are three steps to take today:
1) Understand the business case for clean energy
2) Get buy-in from your team.
3) Innovate your business.
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