Three ways your business can benefit from using renewable energy

14/01/2020

Three ways your business can benefit from using renewable energy 

Demand for electric power is increasing and public concerns about the environment are growing. As an SME, there has never been a better time to consider switching to renewable energy sources.

As well as reducing greenhouse emissions and doing our part to create a healthier environment for everyone, making the change to green power can help your bottom line and attract new clients and customers.

We’ll run through three potential advantages of switching to renewable energy sources here.

Take advantage of green incentives

The UK aims to end its contribution to global warming by 2050. It’s hard to know exactly what future governments will do to help businesses reach this target. Environmental regulations have traditionally been more concerned with larger organisations that are deemed to have a bigger impact on emissions than SMEs. However, there are a variety of grants, loans and government-sponsored initiatives available that support SMEs in their efforts to go greener.

Keep track of the GOV.UK business finance and support finder to identify any grants that offer support for SMEs in reducing carbon usage. Although navigating the grants system can seem intimidating, there are a number of third parties who can offer impartial advice on the process, from your local chamber of commerce to the Department of Trade and Industry (DTI) and Department for Environment, Food & Rural Affairs (DEFRA).

Do your research and you may find grants available to businesses who implement energy-efficiency measures, as well as sustainable development initiatives. The search can seem a daunting one – but it has the potential to pay off for your business.

Man watering plant with coins on top of business spreadsheets

 

Be seen as a thought leader in your industry

By investing in renewable energy, your business can be seen as leading the way in corporate social responsibility. This gives both customers and investors confidence as they want to be seen and associated with modern, forward-thinking businesses and brands. Your business can be seen as stimulating the industry and encouraging growth in the renewable energy sector by creating higher demand and new jobs.

With the BEIS Public Attitudes Tracker reporting increasing public support for renewable energy, being seen as green may help to build a strong reputation with the wider public, including local communities. It can also be a boost for employees who want to be able to take pride in the green efforts of their organisation. A recent survey of workers in the USA found that nearly 70% of respondents reported being more inclined to stay with a company long term if that company had a strong sustainability plan.

Man in suit putting card with word 'sustainability' in pocket

 

Gain new PR & marketing avenues

Going green can be a great PR and marketing tool. By marketing your business as green, you’re showing clients, customers, and your community that you care about them and their future – and are willing to back that sentiment up with action. It’s easy for companies to claim they have green values, but not everyone can back it up. Following through with definite action allows you to firmly position yourself on the market as a green business.

The environment is becoming more of an important issue to the public, and this is only likely to continue. Audiences, particularly millennials, respond well to ‘green’ marketing. A report by the Chartered Institute of Marketing found that 92% of millennials would choose to buy from a company committed to ethical business practices. Going renewable could be the differentiator that makes a new customer choose your business over a competitor who doesn’t display these credentials.

Taking advantage of this trend could be key for SMEs looking to tap into the millennial demographic for business. And as this age group makes up an ever-increasing percentage of the workforce, being perceived as green may attract potential employees to your business too.

Laptop with business performance reports behind on green paper

 

Valda Energy can help you to stand out as a sustainable SME. We provide a tailored offering that introduces the right amount of renewable energy to suit your business. You can choose what proportion of energy you’d like to be renewable when you join us.

Then if your needs or preferences change over time, we can make adjustments. We make it that simple and flexible to your business needs.