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Why Your Business Should Consider Installing Solar PV Panels

Why Your Business Should Consider Installing Solar PV Panels

Solar PV panels have seen technological advances at exponential rates over the last several years, and are becoming more of a source of electrical energy. With the increasing demand has come the decrease in price as more supply and competition has entered the market. The cost for solar panels has decreased by 15% annually and is predicted to decline 40% between 2015 and 2017 alone! Not only has the price decreased, but also the time needed to install the panels has decreased as well. But the question remains: are solar panels worth it and how will this benefit your business?

Using a Triple Bottom Line Approach (People, Planet, Profit), here are the reasons why your business should consider installing solar panels.

People

People are an important part of the triple bottom line, as it relates to businesses corporate responsibilities both locally and globally. Although it may not seem obvious, using solar panels have been proven to be great for improving satisfaction of your consumers, employees and others in the community. Both customers and employees want action among the private sector for an increase in green and eco-friendly products. 71% of consumers think green before purchasing a product and numerous studies have showed job seekers are interested in environmentally friendly organizations.

Although there have been online rants about introduction of solar panels in neighborhoods, it has also been proven that solar panels are contagious. A California study found that a 10% increase in solar panel installations, could influence up to a 54% increase in solar installation.

Planet

Compared to other energy sources, Solar has ranked high among its environmental impact, but is also considered one of the most feasible renewable resources. Solar directly connected to outlets in your workplace has the ability to take your business “off the grid” in a way. Based on a study coal uses 975g of CO2 per kilowatt, compared 50g of C02/Kwh from solar. Although very competitive, solar still uses more carbon in comparison to wind, hydro, and nuclear. However, Hydro has very high potential of wildlife risk in construction and decommissioning of facility. As well as nuclear still has risk of wildlife in the extraction of the needed resources. Solar panels have the ability to have a minimal environmental impact from the installation on wildlife, as well as cutting carbon to reduce the carbon footprint of your business.

Profit

Not only does the installations of solar energy contribute greatly to ethical corporate responsibility, it also saves your business money and helps boost profits. Solar panels can attract customers, publically showing your commitment towards renewable energy, as a means to also increase your number of customers. NC State University conducted a study and found that the top 50 cities in the US ALL saved money from first month of installation of solar panels. Even cities like Portland, Seattle and other cloudy cities saved nearly $50 in their first month.

Also as a business initiative, your business can sell energy produced to neighboring buildings, which in future years will become even more popular as solar energy is predicted to start beating fossil fuels in price. One study predicts solar will be 10% cheaper than coal by 2020 in India. Although, solar, wind and other renewables create problems for storage of electricity, making consumers of solar panels having to maximize electrical uses on sunny days, these problems are quickly being eliminated. In 2015, there were a number of crucial announced success stories of the storing solar that are helping to close the gap of using solar at night.

Solar panels provide clean, renewable energy that puts you off the grid. It has the ability to help others in your community, divest your business back from fossil fuel, save costs and increase profitability from a new market. By implementing solar panels, your business has the opportunity to see growth towards a better economic, social, and environmental future for your business today.

Matt Hussey Ecobase Certified

 

  Written by Matt Hussey

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