Illuminating India with Solar Energy
Solar energy has made its presence more vibrant in the corporate sector business environment with its various applications and effects. Apart from the adoption of solar energy in business process itself that curtails the overall energy expenses for the business, utilization of it renewable and solar energy in CSR activities helps in taking CSR activities to an all new level, spreading a positive image for the company.
In this CSR roundup, we are looking at solar energy, one of the most relevant and effectively conveyed forms of renewable energy. It got into the limelight, with all the global countries committing to renewable energy goals in the recent Paris Agreement. We see now the interest from various companies in utilizing this resource towards their CSR Goals. Following are some of the principal factors that have enabled its popularity.
Employee Productivity: The effects of global warming are real and more visible, day by day, which clearly would mean lower productivity owing to increasing heat through potential employee ineffectiveness at work. The losses due to increasing heat can run into billions for the global manufacturing community. There is an overall agenda by the majority of countries to make an effort in the direction of making renewable energy 100% by the year 2050.
Efficient and Cheaper: Renewables are becoming cheaper and more efficient owing to remarkable innovation in manufacturing techniques, thereby making it a cost-effective solution even for SME’s. In some cases, the prices have fallen by 80 percent over the last 8 years, thereby making it a consideration for both domestic and industrial purposes. As a result, there’s now three times more wind power and 15 times more solar power in the world than in 2007. At the same time, there is a tremendous enhancement in efficiency of renewable energy. Thinner solar panels have been developed that enable generation of solar energy even in cloudy atmosphere thereby increasing the geographic and demographic coverage of the solar application. This is a clear indication of the fact that the community has an increased care of the world we live in. Promotion of renewable energy has now become one of the important factors in assessing suppliers.
Increased Employment Opportunities: A recent Greenpeace estimate found that, if the world switched 70 percent of electricity programs to renewable energy, the resulting savings would be $180 billion each year. Actually, improved renewable energy initiatives have boosted employment, with 380000 new jobs created in Germany — where one-quarter of their national energy demands are being met by renewables. Thus, renewable energy is playing a significant role in cost-cutting for various businesses.
Visible Impact: A business that adapts to renewable energy should do so visibly, as it has a positive public stigma. In addition to possible cost savings, it also has the potential for a very positive PR impact; along with a morale boost among employees and customers alike. Visible solar energy initiatives, for instance, are a great way to shift public perception toward the positive.
Some CSR projects have done phenomenal work in doing their bit for improving the environment, which is very commendable. We give an overview of three such projects in this article:
Renewable energy looks pretty good for business.