By 2022 renewable energy will account for 30 percent of the world’s total electricity, up from 18.5 percent in 2008.
Evidently, renewable energy is the way of the future. If you aren’t one of the people who has embraced renewable energy, now is the time to switch.
And from a business standpoint, the benefits of going green go beyond environmental conservation. It can improve your bottom line as well.
Keep reading to learn more about the various money-saving benefits of renewable energy.
1. Lower Energy Bills
In the U.S., the average monthly commercial energy bill is $654, according to U.S. Energy Information Administration. Tellingly, in DC businesses folk out north of $2,000 a month!
If you’re a small business running on a tight budget, energy bills can put a strain on your finances.
The good news? Solar power, the fastest growing source of solar energy, can lower your energy costs or even eliminate them.
If you install solar panels on your premises, for instance, no one will send you an energy bill. All you will need to worry about is maintaining your solar system.
Sure, the initial installation costs are a bit high, but considering the Solar Investment Tax Credit is still in force, even small businesses can afford to go solar.
2. Minimal Power Outages
As a business owner, you know the costly effects of power disruptions.
If you don’t have backup power, your operations will grind to a halt. And if you’ve backup power, such as generators, you have to meet their running expenses.
What if we told you there’s a power source that promises minimal to zero power disruptions? Yes, fewer supply disruptions is one of the major advantages of renewable energy for businesses.
Take solar power, for example. As long your system is properly installed and maintained, there’s no reason to expect a power outage.
Perhaps you’re wondering, “What about in the dead of winter when there’s no sun?”
Well, solar panels are powered by light, not heat. This means regardless of how cold it gets, solar panels will always work as long as there’s daylight. Plus, many modern solar systems have adequate storage capacity, enough to power your business for several days.
3. Stronger Business Reputation
A good reputation is good for business. Many consumers want to buy from brands with a positive image.
If you want to take your business reputation from good to strong and attract even more customers, start using renewable energy. Given that 70 percent of Americans think environmental protection is more important than economic growth, and that 85 percent of these consumers are looking to buy from companies that advocate for an issue they care about, you can expect to make more sales.
A strong reputation also increases your brand’s perceived market value. The net effect is you won’t have to spend a lot of money on advertising to catch a potential customer’s eye.
Reap the Benefits of Renewable Energy
The high cost of installation is the biggest hurdle for businesses looking to go embrace renewable energy
However, with these benefits of renewable energy in mind, there’s no doubt the return on investment is high. Your business will save on energy bills, make more sales and gain a stronger reputation, which is key for increasing customer satisfaction.
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