In recent years, there’s been a strong influx of environmental activists and scientists urging government officials to take action when it comes to climate change. There has been particular emphasis on businesses and large corporate companies who are being told they must take responsibility in reducing their carbon footprint. In fact, they can be held accountable for almost all of it, as 70% of the world’s greenhouse gas emissions can be traced back to just 100 companies.
Because of this, there’s been a dramatic turnaround in businesses fighting for the eco-friendly crown. Green energy has played a big part in this and it’s one of the first steps that businesses are taking to combat global warming – and it’s already driving business growth. Here’s how:
1. Boosting Production
Solar power is a huge driver of business growth. Since being commercially used in the 1980s, they’ve come on leaps and bounds in terms of their strength and the manufacturing process. Thanks to the latest technologies, productions costs have been lowered by 50%. China have latched onto the market early, producing more than half of the world’s solar panels used today. Since they took control, the price of solar panels has fallen by two-thirds and production has dramatically increased.
2. Reducing Energy Costs
Production of renewable energy is typically more economically efficient compared to traditional energy. From wind, waves and solar, all forms of renewable energy will actually turn out to be cheaper in the long run. These savings can then hopefully be passed on to the consumer and businesses, who’ll be able to save money on their utility bills if they decide to switch energy suppliers.
3. Investment Opportunities
Investing in green energy is not only a good decision for the future, but it also makes a company more ethical. Rising investments are creating a healthy and positive outlook for the sector, creating more jobs and encouraging further technological developments. What’s more, oil prices are soaring for a number of reasons, largely down to the Middle East unrest but also the BP oil spill in the Gulf of Mexico. There’s no better time than now to start pouring money into the green energy sector.
In 2010, global investment in green energy totalled $243 billion, increasing by 30% from the previous year. Now, it’s reached a staggering $288.9 billion, far exceeding fossil fuel investment. The government has also pledged to invest more in green energy, claiming to generate energy offshore in windfarms by 2030.
4. Greater Control
By utilising green energy, business also have greater control about where they choose to source their energy from. Previously, when fossil fuel was the only option, businesses had no choice but to use it. Now, they’re presented with a number of options, allowing them to select a source which best works with their business. In turn, this can drive business growth as they can begin to make big savings. For example, if a business chooses to install solar panels across its premises, it’s effectively becoming self-sufficient! Gaining more control over their energy.
