Why Invest in Renewable Energy?
On-site renewable energy generation offers several important benefits for forward-thinking businesses. While every facility, industry, and organization has unique needs and goals, the immediate and long-term advantages of renewable energy include controlling operating costs, avoiding disruptions, and meeting climate and environmental commitments.
Why Should Companies Invest in Renewable Energy?
Businesses have plenty of options when investing in their long-term growth. From expanding production, servicing debt, or growing their workforce, every dollar needs to have a purpose. Among those many investment options is capital expenditure to improve energy efficiency. Investing in on-site renewable energy generation amplifies other energy-focused upgrades.
The most common types of onsite renewable power are:
Wind turbines
Biomass
Most of these systems augment off-site, grid energy, though many can handle the entire facility’s load during normal operating conditions or off-hours. Additional systems, such as battery storage, enable facility managers to absorb energy requirements during peak hours, thereby lowering costs.
Case Study: Inhabitec Commits to Solar
4 Advantages of Renewable Energy for Companies
Despite policy changes, renewable energy remains a vital (not just viable) investment for companies across industrial sectors. Here are just a few of the benefits of onsite renewable energy for companies and institutions.
1. Reliability and Resilience.
Generating power onsite reduces complete reliance on the centralized grid. For critical infrastructure such as data centers, hospitals, and manufacturing facilities, this provides a stable and resilient power supply that protects against outages, voltage fluctuations, and other issues.
2. Cost Savings
Actively managing on-site and off-site energy use through load shedding, avoiding peak demand changes, and lowering transmission fees can substantially lower energy costs. Accessing federal and state tax credits and rebates can shorten the payback period of these systems.
3. Environmental Stewardship
Harnessing clean, renewable energy like wind and solar allows organizations to reduce their carbon emissions and supports their sustainability initiatives. It’s also an important step toward protecting local ecosystems and adds value to the community.
4. Reduce Volatility
Owning and controlling energy available reduces exposure to sweeping changes in energy policy, geopolitical events, or unexpected grid issues. The ability to plan, calculate, and control your energy supply allows for more accurate long-term business planning and improved operating margins.
Explore Your Onsite Energy Options
There are still many valuable programs, grants, rebates, and tax credits available for Michigan businesses committed to sustainability. Let Keen Technical Solutions help you identify every financial tool to offset upfront costs and bring reliable, renewable energy to your facility. Our experienced team is with you from concept to completion. We design and install a custom solution and educate your staff to maximize the system’s impact on your operations. Start your onsite energy generation project by contacting a Keen energy consultant today.