This is an excerpt from the August 2018 edition of The SOL SOURCE, a monthly electronic newsletter analyzing the latest trends in renewable energy based on our unique position in the solar industry. To receive future editions of the journal, please subscribe.

It’s no secret that solar helps businesses and municipalities to save money (see our other trend article in this month’s newsletter). However, peripheral effects like a 55 percent spike in employee morale, a 43 percent improvement in both process efficiency and public image, and a 38 percent jump in employee loyalty that come with sustainable practices are often overlooked by companies deciding if or how to pursue clean, renewable energy and other sustainability initiatives.

Sustainability = Stronger Sense of Purpose

Unsurprisingly, employees enjoy working for companies that share their values. A recent study of corporate social responsibility (CSR) programs showed that 75 percent of employees find work more fulfilling when given opportunities to contribute to social and environmental causes. By going solar, for example, a company is making a meaningful contribution to the environment and economy that everyone in the company can feel a part of, while in addition making the company more purpose-driven, a valuable asset for companies.

The following data was taken from Deloitte’s 2014 core beliefs and culture survey:

With over 70 percent of millennials expecting their employers to focus on societal and mission-driven problems, corporate sustainability can greatly aid the recruitment of young talent. In other words, providing employees with a purpose-driven environment aids in recruitment and employee retention.

Where Cost is an Issue: Solar Saves

In a survey of companies who hadn’t implemented sustainability plans, the top two obstacles preventing them from implementing such a plan were:

  1. The cost associated with launching a plan
  2. The difficulty measuring return on investment

Solar energy solves both of these problems efficiently. Through power purchase agreements (PPAs), organizations see savings without any upfront investment. This can be easily measured by comparing energy bills before and after the solar installation.

In addition to cost savings, handy tools like the EPA greenhouse gas calculator helps companies to measure the impact of their solar array in other ways, such as car emissions or barrels of oil avoided. For instance, Sol Systems’ 6 MW project in Danville, Virginia will offset more than 15 thousand barrels of oil burned consumed every year.

With the various ways to go solar, the energy source is an increasingly easy business decision for companies to make on a strictly financial basis. The intangibles however, make solar all the more desirable. If your company is looking to explore its solar options, don’t hesitate to reach out to our team at energy@solsystems.com.

ABOUT SOL SYSTEMS

Sol Systems, a national solar finance and development firm, delivers sophisticated, customized services for institutional, corporate, and municipal customers. Sol is employee-owned, and has been profitable since inception in 2008. Sol is backed by Sempra Energy, a $25+ billion energy company.

Over the last ten years, Sol Systems has delivered 700 MW of solar projects for Fortune 100 companies, municipalities, universities, churches, and small businesses. Sol now manages over $650 million in solar energy assets for utilities, banks, and Fortune 500 companies.

Inc. 5000 recognized Sol Systems in its annual list of the nation’s fastest-growing private companies for four consecutive years. For more information, please visit www.solsystems.com.