Sustainable energy is produced using resources that won’t endanger the environment or the energy demands of future generations. Renewable energy is also included in the most well-liked sustainable energy sources, such as hydropower, solar, and wind. The most obvious way to save money when you switch to sustainable energy is by reducing your monthly energy bills. But there are other ways too.
Fossil fuel industries receive massive subsidies through direct payments, tax breaks, and other incentives. That means that switching to renewable energy helps level the playing field.
Reduced Energy Bills
Unlike fossil fuels, renewable energy sources produce clean, pollution-free energy that can help address climate change. Wind and solar energy now account for 8.5% of worldwide electricity, but they have the potential to become much more. And their costs are continuing to decline.
Many companies also use renewables to cut their energy costs. In addition, the use of renewables helps reduce energy bills for families. Using energy-saving appliances and installing rooftop solar can significantly reduce a family’s utility bill, and there are currently numerous tax credits that can help make electric vehicles more affordable for working families.
A reliable, sustainable Texas energy company can also help reduce energy bills by supporting policies that promote transforming our energy systems to include more distributed generation. This includes promoting carbon pricing, implementing renewable portfolio standards, and encouraging a phase-out of fossil fuel subsidies. These policies can lower greenhouse gas emissions, improve air quality, and increase energy security.
Reduced Carbon Footprint
Sustainable energy is “energy that meets the needs of the present without compromising the ability of future generations to meet their own.” Using renewables, such as solar or wind power, in your home and business can significantly reduce your carbon footprint and help fight climate change.
In the United States and virtually every region, electricity generated by renewables such as wind and solar displaces fossil fuel generation, reducing CO2 emissions. Additionally, renewable energy is far more sustainable than fossil fuels.
A company’s carbon footprint is the total amount of greenhouse gases produced from its operations, including transportation, manufacturing, energy consumption, and waste production. A company can reduce its carbon footprint by investing in green projects, purchasing carbon credits, running campaigns to raise awareness, donating to environmental charities, and paying taxes and fees based on its footprint.
While some companies are well known for their commitment to the environment, others are quietly blazing new trails and leading society toward a sustainable future. By buying their products, you’re supporting their efforts to stay ahead of emissions-reducing regulations and find sustainable solutions for energy resilience. This helps preserve the planet and saves money in the long run for everyone involved. Here are five energy companies that are doing just that. Thanks to their continued innovation in clean and renewable energy, the future looks bright for these companies and the rest of us.
Reduced Risk of Power Outages
Power outages can cause a variety of problems for businesses. Power outages can seriously impact any business, from lost revenue to the inability to charge e-cars or refrigerators to a loss of critical information and equipment. The US energy grid is becoming increasingly vulnerable to outages due to climate crisis-related weather and aging infrastructure.
Investing in renewable energy can reduce this risk and give your business peace of mind amid climate change-related uncertainty. Renewables can also be paired with storage technologies, which allow businesses to lower their peak-use demands by storing energy generated on-site. Several studies show that renewable energy reduces overall system-wide costs by replacing older, more expensive fossil fuel power plants with cheaper wind and solar resources. A survey for the Western Interconnection showed that adding 8 GW of wind capacity to the system would save $7 billion a year in power plant operation costs—about $65 per person served. That savings can be even higher in states with a higher share of renewable energy.
Increased Cash Flow
With stable cash flow, you’ll have more wiggle room to make the purchases your business needs to thrive. This could include upgrading to energy-efficient appliances or switching to an electric vehicle. It can also mean installing solar panels or an energy generation system at your facility to offset your electricity costs with clean, affordable power.
Installing a renewable energy solution can be expensive, but government incentives make it less of an out-of-pocket cost. If your renewable energy solution produces more than you need, it’s possible to sell that excess back to the grid – a valuable source of income for your business. Additionally, many renewable energy options have an upfront cost lessened by local and state incentives.
The United States is moving to cleaner power generation, with renewable energy leading the way. Studies by the National Renewable Energy Laboratory show that adding more renewable energy capacity can save American ratepayers tens of billions in power plant operating expenses yearly. This trend will also accelerate the transition to renewables, limit stranded fossil fuel investments, and reduce the risk of catastrophic climate disruptions.