Consumer demand for sustainable business is growing, and fast

Going ‘green’ seems to synonymous with successful business in the 21st century. Most major companies and corporations either promote going green through their products (e.g. Mattel’s switch to green packaging), or implement sustainable practices (such as Walmart’s switch to solar). In any case, these changes are a direct result of consumer pressure and demand. Here are some quick stats:

• 80 percent of consumers are likely to switch brands, similar in price and quality, to one that supports a cause (Cone 2010 Cause Evolution Study)
• 54 percent of shoppers say they consider elements of sustainability (sourcing, manufacturing, packaging, distribution, product use, disposal) as they select products and stores (GMA/Deloitte Green Shopper Study, 2009)
• In 2009, 47 percent of consumers said they bought products from a socially or environmentally responsible company. Going into 2010, 76 percent of all consumers said they expected to purchase more from environmentally responsible companies. (Tiller, 2009)

Regardless of the size of your company, sustainability matters. Considering the environment and the societal impacts of your products and/or services is becoming an increasingly important factor in consumers’ decision-making. The reality is, unsustainable companies will, by no fault but their own, be left behind as the market demand for socially responsible companies intensifies. Admittedly, smaller companies find it more difficult to implement sustainable practices as it requires a lengthily process of consultation, restructure/ design, implementation, and monitoring, which is often a costly service to acquire. However, there are less-costly, even cost-free solutions available.

eBay's solar power system, courtesy of SolarCity

The easiest and quickest way to turn your environmental footprint around is by using renewable energy. Companies such as Walmart, Ikea, Wawa, Google, and eBay have all successfully switched to solar, and reaped the economic and environmental benefits. Not only do their solar power systems provide them with free and clean energy, they also promote corporate social responsibility, or CSR. They show their customers that they are taking a proactive step towards reducing their environmental impact, and have done so through countless press releases, newspaper and magazine articles, and so forth. Even smaller local companies, such as Divine Brothers, have turned to solar power to not only reduce their electricity costs, but to also give them a competitive edge, with great success.

Solar power is often perceived as being very costly, with a low ROI. But that could not be further from the truth. Commercial solar investors, such as those mentioned above, are turning to solar because it is a cost-effective solution to rising energy prices, while dramatically reducing their C02 emissions. Commercial solar projects frequently see ROI numbers around 4-5 years, placing solar power among the best, most secure investments available to companies today.

For those companies who still find solar out of economic reach, there are still solutions available. Power Purchase Agreements (PPAs) enable companies to make the switch to solar, but without the upfront cost. Solar investors such as Solar States install solar power systems on companies’ roofs at no cost, and sell the clean energy back to the company at a lower rate than what they are typically charged by their utility. Although the host company does not own the solar power system, they are still able to promote themselves as sustainable, and socially responsible, therefore meeting consumers’ demands for more environmentally conscious products and services.

To find out how solar can help your business, contact one of our Solar Energy Consultants today.

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