With more and more businesses looking to embrace corporate social responsibility (CSR) to earn greater approval from their customers, it can be important to consider the financial implications of the various forms of CSR.
For the most part, CSR costs a little more. Businesses in the food industry sourcing their raw ingredients ethically can expect to spend more to acquire them. British businesses looking to keep their carbon footprint down by buying components made locally rather than shipping them from countries with weaker economies will likewise have to spend more to bring them in.
Sustainability Can Be Profitable
While installing an industrial or commercial solar power system does entail a significant investment, once it’s up and running it actually reduces your ongoing costs. In the UK, a typical business’ solar panel installation will earn back the cost of its investment in four years. However, the life expectancy of the solar panels that make up the bulk of the system is nearer to thirty years – so you benefit from significantly reduced electrical overhead for over two decades.
Some larger companies even build up a surplus of energy over the daylight hours, giving them the chance to sell back to the grid, supporting not just your business but everyone using power locally.
This is a huge proof of the social responsibility of your business and something you can genuinely be proud about. The money saved can be used to help manage costs passed on to your customers or to finance other CSR projects as appropriate.
There are significant benefits to be had from this. An IBM study confirms that for seven employees out of every ten, working for a company with corporate sustainability policies is a priority, making it easier for companies with active CSR initiatives to recruit and retain the best talent.
The same survey confirmed that for the majority of investors, CSR policies are a positive factor.
Establishing Energy Independence
Another related talking point in the last few years, energy independence is the principle of protecting your company from price fluctuations and/or supply disruptions. While UK businesses are fortunate enough to be relatively safe from supply disruptions, the steep increase in energy bills since the October 2021 price cap increase shows how much the market can affect energy prices.
Having your own commercial solar power is one of the most effective ways to counteract this.
If any of the above has inspired you to bring in solar independence as part of your CSR policies, Go Green Solar are ready to help you make it a reality. Get in touch today and we’ll get the ball rolling on a purpose designed solar system for your needs.