Generating and using renewable energy can help you to reduce your business’ contribution to climate change and avoid using carbon-intensive resources such as fossil fuels. Renewable energy also offers a wide range of other benefits to businesses, including:
- Improving your environmental credentials and strengthening your brand – customers, investors, and other stakeholders increasingly want to deal with businesses that show that they are environmentally responsible.
- A more secure energy supply – fossil fuels won’t last forever and supply is increasingly dependent on imports from overseas. Renewable energy sources are naturally occurring and won’t run out.
- Exemption from paying duty under the climate change levy – this duty is a tax on the energy used by businesses.
- A reduction in allowances required under the CRC Energy Efficiency Scheme – in certain circumstances, businesses generating renewable energy may be able to offset this against the number of allowances they are required to purchase under the scheme.
- Building relationships with businesses that have similar values – for example, you may be able to work with other local organizations on a renewable energy project.
- Stable energy costs – gas and oil price rises are reflected in customers’ energy bills. Renewable energy sources are not subject to the same price rises as fossil fuels.
- Future-proofing – renewable energy use will become more widespread, with legislation already placing targets for its use in certain new developments. Switching sooner rather than later will give your business early experience with renewable energy.
Even if your organization’s core business is not in the renewable energy sector, switching to renewable energy could still provide you with an additional revenue stream.
SOURCE: NI BUSINESS INFO – https://www.nibusinessinfo.co.uk/content/benefits-using-renewable-energy
