Businesses and individuals around the world are expected to spend $2.9 billion on renewable energy by 2025. That is a far cry from 150 years ago when 90% of the country's energy needs were satisfied purely by wood sources.
Sustainable power is a topic that continues to receive much attention as the plight of our planet comes into focus. At the same time, power costs for businesses keep spiraling upwards and putting pressure on the profit margins. Consequently, corporations are turning to the existing renewable energy types as a means of acquiring cost friendlier power.
The following are some meaningful benefits you can realize by adopting renewable energy today:
1. Lower Energy Bills
Every business exists to be an efficient entity and as such, keeping the energy bills as low as possible is always a welcome (and sometimes mission-critical) initiative. Using green energy, firms can garner attractive energy savings by utilizing the most suitable option out of the existing renewable energy types today.
Wind turbines utilize freely available wind power to convert the kinetic energy available in the wind into mechanical power. The mechanical power then gets converted to electricity by the use of a generator.
For businesses located near water bodies, hydroelectric power is the most convenient of the existing renewable energy types for generating cheaper electricity. All such a firm has to do is to store the water, and as the need dictates, run it through angled pipes. These pipes increase the speed at which the water flows, ultimately powering a generator that then produces the electricity.
Solar power is the most popular form of green energy, and for many enterprises, also the most flexible option. By using solar panels, you can turn the sun's energy into thermal or electrical energy.
Geothermal power is a fast-growing source of green energy that companies in suitable areas can tap to lower their power costs. Geothermal stations convert the energy stored in the underground heated water into electricity for company use.
2. Reliable Operations
Whenever there is a power outage, your company encounters loses due to unrealized productivity. Many companies are now pursuing a mixed electricity generation model in a bid to cut down on their annual downtimes and the resultant loss.
These companies rely on the grid to help them meet their power needs while co-generating at the same time. Thus, should the electricity supplier experience an outage the business can immediately switch to the most suitable of the available renewable energy types and stabilize operations.
3. Boost Your Reputation
Today's business environment includes customers who pay attention to your company's values. One issue that is increasingly growing in popularity in the business world is sustainability. When people buy items today, they want to know that they are supporting a firm that is working to conserve the planet and not plunder it.
According to a 52-week Nielsen study on consumer goods purchases, brands with sustainable products sold 3% more. Such data has not gone unnoticed by investors as they seek to move with market sentiment.
An increasing number of financiers are now looking at how companies plan to deliver value on the 'triple bottom line' approach. The triple bottom line approach involves your financial returns, your firm's social contribution, and its environmental conservation efforts.
Using green energy in your operations is a meaningful way to differentiate your products and services in the market which can drive or sustain your sales. In an age where your marketplace is interconnected, it pays to have customers advocate for your brand due to your adoption of green energy which can have a positive lift on your returns.
Furthermore, if you plan to embark on any fundraising activities, investors will count your reputation as a firm that uses green energy as a plus during negotiations.
4. Tap into the Benefits of Renewable Energy
Concern for the planet's survival and the ever-rising traditional power prices are swirling to create the perfect storm for businesses. Thus, companies are turning to present-day renewable energy types as a way to get cost-effective electricity while also gaining a reputation for being sustainable.
About Starion Energy:
Celebrating our 10 year anniversary, Starion Energy is an independent US retail supplier loyal to everyday hard-working families, local businesses, and the small communities which we strengthen and empower. We secure the path towards smarter, cleaner energy choices. Our agile working style, resources, and seasoned energy leaders is how we can match people's changing lives with easy plans that yield results. It is our honest top performing personal service and the genuine positivity of our people that impact customer's lives and makes us the go-to long-term energy partner.