Making the case for renewable energy in business
The UK government has continued to outline its commitment to renewable energy through a new round of renewable energy incentive schemes. The most recent will pump over £285 million a year into residential, commercial and energy production schemes, presenting key opportunities not only for providers to start making more sources of renewable energies, but further impetus for businesses to start making the shift over to renewable. Amidst ever-rising energy prices, there are serious financial benefits to be considered from moving to renewables.
The most straightforward way for businesses to start making use of renewable energy is through generating their own power supplies. According to Which?, total renewable installation for properties sized at 3 beds – a useful metric for businesses conducting their business remotely – comes to around £6,500. In terms of efficiency, data has shown that businesses located on the south coast in particular will have generation rates comparable to south-central France. Storage has been a problem in recent years but, according to solar energy experts EcoWatch, the advent of products such as the Tesla PowerWall means that effective storage is possible and affordable. Accordingly, the long-term costs of renewable energy no longer have to be prohibitive for businesses, even though the government no longer provides specific subsidy schemes.
Looking to contracts
Businesses also have the option of taking out private energy provision contracts. Given the excessive prices of wholesale energy, this might be preferable to going through the national grid. As highlighted by Climate Action, Vodafone is one of many firms that have directly approached an energy company to source their own energy solutions, circumventing current market prices and sticking to one tariff – with the guarantee of renewable energy as being their source of power for the foreseeable future. This shows the opportunity for businesses to find effective individual contracts to help push forward their own use of renewable energy, effectively carving out part of the wider UK business renewable market.
Improving sales and growth
Businesses that use renewable energy can reasonably expect to boost sales. As The Guardian highlights, renewable energy monitoring firm Granular has experienced huge interest from both consumers and businesses on the basis that they’ll be able to track, to the minute, the use of actual renewable energy. Clearly, customers want to be able to see their businesses using renewable energy, and it follows that there’s huge reputational gains to be made in the business of showing eco credentials. Savvy business owners will know that positive reputation means more sales – and, with it, greater growth. Accordingly, making the changes today to continue to promote and use renewable energy will be a long-term boost to the business, and place it firmly in the modern age.
Investing in renewable energy has become an important consideration for businesses tussling with the ever-increasing price of energy. Avoiding wholesale, and becoming renewable, is not only a financial decision in simple overhead terms, but a way of achieving long-term customer loyalty and growth.