For the majority of businesses, whether large or small, saving money is a big priority. There are many ways in which your business can save money, some of which you may already be utilizing on a day to day basis and as a part of your company policies. When it comes to cutting costs, it’s always worth going after those regular ‘fixed’ costs that you can’t get away from paying, whether it’s your business utility bills, rent or mortgage on your building.
Investing in renewable energy for your business can help you save a significant amount of money in the future. You will be able to cut business energy costs by generating your own power and even selling any surplus energy that you generate back to the grid, allowing you to make money rather than spend it.
In addition, renewable energy is a great investment to make if you are serious about being a greener company, reducing your carbon footprint and doing whatever you can to give back to and care for the planet and the environment. Read on to find out all you need about renewable energy for business.
What Renewable Energy Sources are Available for Business?
There are quite a lot of renewable energy options on the market today, so it’s worth doing some research to find out which ones are the best fit for your company. The one that is the best choice for your business will depend on a wide number of factors, including your location, what you want to get out of investing in renewable energy, and how much money you are willing to invest in it. It’s a wise idea to first conduct a renewable energy audit on your business, to figure out which kind of green energy is going to work best for your company.
1. Solar Panels
Installing solar panels is one of the most common renewable energy options for businesses. You can attach solar panels to your property’s roof or even the sides of the building in order to generate clean, renewable energy from the sun. Solar panels can be used to generate both heat and energy. You can use the energy as soon as it is generated if you only need power for your business during the day, or invest in a battery storage system to store energy that can be used at any time.
Check out Semper Solaris, the best solar company in San Jose with a lot of experience installing solar panels for both business and residential properties. This provider may be able to help with investing in the best solar panel installation in San Jose to ensure a high-quality, professional finish for your company. And when looking for the best solar installation in San Jose, be sure that the solar company in San Jose that you choose offers a warranty on the panels, to offer peace of mind when it comes to the cost of future maintenance and repairs. Generally, a reputable company will offer a warranty of around 20-30 years.
2. Wind Power
Using wind power as a method of generating renewable energy is an option, however, bear in mind that it is only usually possible if you have access to a large amount of clear land since you will need a large system in order to generate a viable amount of energy to power your business. In addition, the cost of setting up a wind power system for your business could be anything from tens of thousands to millions of dollars, and could take anything between one to fifteen years to recoup back the cost of your investment.
3. Hydroelectric Power
This renewable energy option generates power by passing water through a submerged turbine or a waterwheel. However, these are also some of the most expensive systems, and you can expect to pay between $4-8k per kilowatt of capacity installed. As a guide, an 8kW hydroelectric power plant would take at least seven years to pay back your investment.
4. Biomass Systems
These systems generate energy by burning organic materials such as wood pellets or straw. If you have access to a lot of these organic materials, then it may be a viable renewable energy choice for your business. The cost will vary depending on the size of boiler that you need and the type of fuel that you plan to use to power your business.
5. Geothermal Heat Pumps
These can be fitted to the side of your company building. They work by using low levels of heat that naturally occurs in the ground in order to generate energy for both heating and cooling. However, this type of system can be quite expensive and can take your business around fifteen years to pay back the investment.
6. Solar Thermal Energy Installation
Similar to solar panels, solar thermal energy installation will use sunlight to heat your business’s hot water tank. They are relatively easy to install – if you’re looking for solar in San Jose, then you may find that this is also a service offered by a good solar company in San Jose – and they can be fitted to the side of your company building. Compared to other renewable energy solutions, they are less expensive and generally take around five years to repay.
The Benefits of Using Renewable Energy for Your Business
In addition to saving money on your regular monthly business costs, there are several further benefits that your company can gain from making the switch to renewable energy. These include:
1. It’s Sustainable
Eventually, fossil fuels are going to run out, meaning that relying solely on them ultimately means that your company is vulnerable. Switching to a green, sustainable energy source means that your business will be able to benefit from stable, reliable energy costs as renewable sources are not affected by affected by the usual rises and falls in gas and electricity prices.
2. Reduce Your Carbon Footprint
Businesses consume a huge percentage of the energy used all across the globe, so making the switch to using renewable energy can have a hugely positive impact on the way in which your business is contributing to the environment. In addition, using renewable energy can have a significant impact on the business’s reputation by improving your public image and corporate responsibility.
3. The Returns Outweigh the Costs
Whether you have bought your business premises or are signed up to a lengthy lease, the cost of investing in renewable energy for your company will likely yield a good return on investment in the long term. Although some renewable energy equipment can take ten years or even more to pay for, bear in mind that after initial installation costs you will only need to pay for basic, inexpensive maintenance and once the investment has been repaid you will quickly begin to see the returns.
4. Earn Money Back
Depending on the type of renewable energy that you decide to use, you may be able to sell any surplus energy that you generate back to the grid, which can help you to cover the initial cost of installing the equipment faster.
If you want to save money and become more environmentally friendly with your business, investing in renewable energy is one of the best steps to take.