Clean Energy News

May 27, 2024

The Benefits of Commercial Solar for Meeting ESG Goals

April 19, 2023

Category: news

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With current consumer demands and trends, customers and investors expect businesses to prioritize environmental, social, and governance (ESG) factors for sustainability. This includes reducing carbon emissions, promoting diversity and exclusions, and maintaining high ethical standards and practices. One effective way businesses can meet these expectations is by incorporating solar power into their ESG and sustainability strategies.

recent report from the Solar Energy Industries Association (SEIA) shows that corporate solar procurement in the US reached an astounding amount in 2022. Companies across the US installed and produced more than 1.6 gigawatts (GW) of solar power. This trend continues to grow partly due to the decreasing cost of solar, new federal and state tax incentives, newer and more efficient solar deployment technology, demand for green energy, and increased regulations to reduce carbon emissions.


Companies can redeem many benefits to their ESG and Financial goals by installing more commercial solar projects. According to a recent study from the National Renewable Energy Laboratory (NREL), the cost of photovoltaic systems dropped by over 85% in the last decade. This has significantly made commercial solar a wiser investment, paving the way for competitive, investment, and consumer benefits. Installing solar projects will also help companies reduce their carbon emissions. For example, according to the EPA, a 1-megawatt solar installation can offset up to 781 tons of CO2 emissions per year. This can help businesses improve their ESG ratings and rankings. Solar power can enhance a company's brand and reputation as a sustainable business. This includes relations with investors, consumers, and employees. A Solar Energy Industries Association survey found that 75% of American voters view solar energy as favorable. By investing in solar power, companies can demonstrate their commitment to sustainability and attract customers, investors, and top talent.


Commercial solar is a great way for companies looking to meet their ESG goals. By reducing carbon footprint, lowering energy costs, and enhancing a company's brand reputation, companies that invest in solar power are well-equipped to succeed in today's business climate. Corporations can use SolBid's platform and service solution for deploying solar projects quickly and efficiently. Our turnkey solution allows companies to quickly assess and deploy projects across their entire real estate portfolio. By leveraging the advantages of commercial solar, companies can demonstrate their commitment to sustainability, attract more consumers and investors, and achieve both short-term and long-term financial benefits.

 

SolBid

Created By:Solbid Inc.