There has been a growing trend among businesses to switch to renewable energy sources in recent years. These energy sources are the future for businesses because they offer a stable, long-term energy source at a fixed price. And it’s not hard to see why: renewable energy is excellent for the environment and can save businesses money in the long run.
Unlike traditional fossil fuels, which are subject to price volatility and supply uncertainty, renewable energy sources are immune to both. That makes them an attractive option for businesses that want to lock in a predictable energy cost for the long term.
Renewables also have the added benefit of being environmentally friendly, which is vital to many businesses these days. So there are plenty of reasons why renewables should be on your radar if you are looking for a stable, long-term source of energy for your business.
Here are some essential reasons why your business should switch to renewable energy.
Renewable Energy Is Becoming More and More Affordable
As renewable energy technology continues to improve, the cost of switching to renewables is becoming more and more affordable for businesses. In fact, many businesses are finding that renewably generated electricity actually costs less than traditional fossil fuel-generated electricity. In the long run, switching to renewable energy will save your business money on your power bills.
Renewable Energy Is Good for the Environment—And That’s Good for Business
An increasing number of consumers are becoming interested in patronizing environmentally friendly businesses. So, by switching to renewable energy sources, you’ll not only be doing your part to help the environment, but you’ll also be making your business more attractive to eco-conscious consumers. It’s a win-win.
Renewable Energy Can Increase Your Business’s Resilience During Power Outages
If your business is located in such area that is prone to power outages (such as hurricane-prone areas), switching to renewable energy can help increase your business’s resilience during these times. Solar panels and wind turbines can continue generating power even when the grid is down, which means that your business can weather any storm.
Renewable Energy Good for Public Health
Renewable energy sources like solar and wind have a number of positive impacts on public health, including reducing air pollution and greenhouse gas emissions.
Air pollution contributes to heart disease, lung cancer, and respiratory illnesses. Greenhouse gas emissions from power plants and other industrial sources are responsible for climate change, which leads to increased heat-related deaths, extreme weather events that can cause injuries and fatalities, and other health risks.
Renewable energy helps to reduce these harmful emissions, making our air cleaner and our climate more stable. In addition, renewable energy projects create jobs and stimulate the economy. All of these factors contribute to a healthier population and a safer world.
Renewable Energy Sources
As the world is seeking to wean itself off fossil fuels, businesses are increasingly turning to renewable energy sources to power their operations. But which renewable energy sources are available for businesses? The most popular options are:
Wind Power
Wind power is considered one of the world’s fastest growing renewable energy sources. According to the World Wind Energy Association, the global installed capacity of wind turbines reached 487 gigawatts (GW) in 2019, up from just 5 GW in 1994. Moreover, business owners can take advantage of federal and state tax credits to offset wind turbine installation costs.
Solar Power
Solar power is another popular option for businesses seeking to go green. Solar panels have fallen by 99% since 1977, making them an increasingly affordable option for business owners. In addition, the government offers tax incentives and rebates to encourage businesses to install solar panels.
Biomass Power
Biomass power is a renewable energy source that makes use of organic matter—such as wood chips or agricultural waste—to generate electricity or heat. One advantage of biomass power is that it can be used to generate electricity on-site, which can help businesses save on energy costs. Biomass power plants also tend to have a much small carbon footprint than other power plants.
Hydro Energy
Hydro energy is a renewable energy that uses water to generate power. The force of the moving water turns a turbine, which in turn powers a generator to create electricity.
Hydro energy is clean and reliable energy used for centuries in power mills and other machinery. Today, it is increasingly being used to generate electricity, and it accounts for about 16% of the world’s electricity supply.
Tidal Energy
Tidal energy is a form of energy that comes from the movement of the tides. The moon’s gravitational pull on earth creates two high and low tides every day as the water moves around the planet. Tidal turbines are installed in areas with particularly strong tidal currents and capture the kinetic energy from these moving waters to generate electricity.
Tidal energy is a fairly new form of renewable energy, but it has a lot of potential because there is so much available tidal power worldwide. It also doesn’t have many negative environmental impacts that other forms of renewable energy can have, like wind turbines or solar panels.
Geothermal Energy
Geothermal energy captures heat from the earth’s core and converts it into usable energy. The earth’s core is a natural hotspot, and capturing heat from this source, creates clean, renewable energy that doesn’t produce harmful emissions.
Geothermal energy is an excellent resource for sustainable energy because it is available 24/7 and doesn’t rely on weather conditions like solar or wind power. Additionally, it is a reliable energy source that can supplement other forms of renewable energy.
Why Should Businesses Switch to Renewable Energy?
There are many reasons why switching to renewable energy makes good business sense. As the world is moving away from fossil fuels and towards renewable energy, businesses must also make the switch. Thankfully, there are several different renewable energy sources available.
While each option has its advantages and disadvantages, these can help businesses reduce their environmental impact while saving on energy costs. When choosing a renewable energy source for your business, it’s crucial to weigh all your options and choose the one that makes the most practical sense for your business.
From saving money on power bills to increasing your company’s resilience during times of crisis, there are plenty of reasons why now is an excellent time for your business to switch to renewables. So, what are you waiting for? Read more and make the switch today!
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