Corporate Responsibility Archives

Sol’s Environmental Stewardship: Sustainability is in our DNA

Company Culture | 18 Apr 2019

By Jamie Nolan

As a company at the forefront of efforts to fight climate change and its impacts, environmental stewardship is written into Sol Systems’ DNA. Our company was founded on a mission of environmental stewardship and sustainability and it is built on the principle that small actions lead to big accomplishments. While our very business activities have a positive environmental impact, that’s not enough for us: Sol Systems strives to respect our planet every day.

Here are a few examples of how we make sustainability a priority:

Energy Use: For years, Sol Systems has purchased wind Renewable Energy Credits (RECs) through Arcadia Power. On average, we offset 137,280 kW of electricity through wind REC purchases each month. Our monthly REC purchase offset is equivalent to offsetting 8,844 pounds of coal power generation.
Office supplies: Sol Systems’ supply purchasing guidelines require that the company consider sustainability in all purchasing decisions. The Sol Systems office is stocked with sustainable-certified products. We seek out brands like Seventh Generation for 100% recycled and unbleached paper towels and cleaning products, local coffee and tea that contains Rainforest Action Network’s “Follow the Frog” certification, and recycled printer paper. Sol Systems' recently began providing "Meatless Monday" catering to highlight our efforts towards a sustainable diet.
Transportation: 80% of Sol Systems’ staff members walk, bike, or take public transportation to work. To encourage these choices, Sol Systems offers pre-tax Metro benefits. Additionally, the office lends high-grade bike locks to anyone who forget one, because -- according to an all-staff survey -- the lack of secure bike parking was a predominant reason for a reluctance to bike to work. Sol Systems encourages carpooling to all staff events and facilitates that process. All of these efforts directly serve to reduce carbon emissions and local air pollution.
Waste reduction: Sol Systems recycles and composts in its offices. Additionally, Sol Systems has a system in place to recycle used ink cartridges and broken electronics. In sum, Sol Systems helps to avoid at least 10 pounds of landfill waste each week through our composting efforts and many pounds more by recycling.

Sol Systems continues to incorporate initiatives and practices into our operations in order to leave the lightest carbon footprint possible to preserve and protect our local and global environment, as well as to help make our hometown of Washington, D.C. a leader in sustainability. At Sol Systems, every day is Earth Day.

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 800 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

Sol Systems Partners with Potomac Conservancy to Celebrate Earth Day 2019

Company Culture | 16 Apr 2019

By Jamie Nolan

[caption id="attachment_7481" align="alignright" width="225"] Last year, the Sol Systems team spent the day in Rock Creek Park to preserve it from invasive species.[/caption]

The Sol Systems team will observe Earth Day 2019 by partnering with local clean water advocacy group Potomac Conservancy and re-committing to its corporate sustainability goals and initiatives.

As the Washington, D.C. region’s leading clean water advocate, Potomac Conservancy fights to ensure that the Potomac River -- which provides nearly 90% of the region’s drinking water -- boasts healthy lands, clean drinking water, and vibrant communities. Last year alone, Potomac Conservancy volunteers collected 25,000 pounds of litter that would have entered the river.

In observation of Earth Day, Sol’s 80 DC employees will participate in a litter cleanup at Four Mile Run, to prevent trash from entering the Potomac. The company will also donate $1,000 to support the organization’s programs that protect stream side forests, advance clean water laws, and restore the health of local shorelines.

Learn more about Potomac Conservancy’s work.

ABOUT SOL SYSTEMS

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

Upsurge: Why CFOs are expanding their roles to include CSR

2017 | 18 May 2017

By Charity Sack

Why CFOs are expanding their roles to include CSR

The material impact that CSR initiatives have on corporate performance has resulted in a sea change. CSR has evolved from simple corporate giving and employee volunteer programs into comprehensive environmental, social, and governance (ESG) programs that integrate sustainability into business strategy.

Study after study shows that the financial benefits of CSR are significant. For example, an extensive study among consumer goods supply chains found companies that implemented “triple advantage” practices – where companies achieve profitability while integrating initiatives that improve ESG outcomes – realized between:

5-20% revenue increases

9-16% supply chain cost reduction

15-30% brand value increase

13-22% carbon gas reductions

That might explain why 65 percent of CFOs have become involved in sustainability initiatives according to an Ernst & Young and GreenBiz survey among corporations with revenues over $1 billion. Cost reductions (74%) and managing risks (61%) were stated as two leading drivers in the company’s sustainability agenda.

Another key factor driving CFOs into the sustainability world is the fact that institutional investors from banks and insurance companies to private equity funds are now considering the sustainability rankings of the companies in which they invest. A recent McKinsey article pointed to a Deutsche Bank study that tells us why. Deutsche Bank evaluated 56 academic studies and found:

Companies with high ESG ratings have lower cost of debt and equity; and
89 percent of the studies examined show companies with high ESG ratings outperform the market in the medium (three to five years) and long (five to ten years) term.

Given this remarkable upside potential and opportunity to expand the aperture of risk management, CFOs are becoming key stakeholders that shape sustainability strategy and goals across the organization. This is particularly true when a large capital expenditure or operating expense like energy procurement is involved.

How clean energy helps CFOs sleep at night: material impact on financial performance and company reputation

Among all sustainability initiatives within an organization, energy is arguably the most impactful on corporate performance and long-term brand equity, as well as achieving sustainability goals. A move to a clean energy source such as solar, whether onsite a facility or offsite at a nearby remote location, provides CFOs with four vital areas to create greater short and long-term value:

Financial Benefits

Organizations can save on energy costs on day one with zero capital outlay through a power purchase agreement (PPA). Or, if an organization determines asset ownership offers more value, owning a solar system can offer 8-12% returns, and a 100% payback on investment in 6-8 years. Financial benefits to explore include:

Reduction of operating expenses with cheaper electricity
Stable electricity pricing for predictable budgeting
Tax credits
Accelerated depreciation
Lower cost of debt and capital from institutional investors that favor organizations with strong CSR ratings
Renewable Energy Credits (RECs) — depending on state

Risk Mitigation

In addition to protecting and enhancing corporate reputation, and thus brand equity, another critical risk that can be reduced is the price volatility for electricity. Price swings in electricity markets can cause costs to vary by millions of dollars making it difficult for companies to accurately budget and plan for electricity expenses.

Solar energy PPAs provide predictability and stability making it possible to budget with certainty. A solar PPA offers stable price contracts of 20, or even 25, years.

Environmental

Solar energy directly reduces carbon emissions to make a difference and achieve corporate sustainability goals that contribute to high CSR ratings that debt and equity firms take into account when analyzing investments.

Brand Equity

There is no shortage of surveys regarding the link between brand value and sustainability either. Customer acquisition and retention are strongly tied to an organization’s CSR initiatives and outcomes. For example, the Nielsen Global Survey on Corporate Social Responsibility polled 30,000 consumers in 60 countries* Fifty-five percent of global online consumers responded that they are willing to pay more for goods and services from companies that are committed to positive social and environmental impact: Asia-Pacific (64%), Latin America (63%) and Middle East/Africa (63%). The numbers for North America and Europe are 42 and 40 percent, respectively.

In the end, there are a number of internal stakeholders involved in the analysis and decision to procure solar energy, whether onsite or through an offsite PPA. To ensure the greatest success and value, engage the CFO and others early and often. Reach out to us anytime, we’re happy to share lessons learned and point you to resources.

ABOUT SOL SYSTEMS

Over the last eight years, Sol Systems has delivered more than 600MW 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.

Tag: Corporate Responsibility

Sol’s Environmental Stewardship: Sustainability is in our DNA

Sol’s Environmental Stewardship: Sustainability is in our DNA

Recent Articles...

DC Greens: Building Impact Through a Sustainable and Resilient Food System

Infrastructure + Impact Spotlight: Q&A with Lynn Heller of Climate Access Fund

Overcoming the Interconnection Bottleneck

Sol Systems Partners with Potomac Conservancy to Celebrate Earth Day 2019

Sol Systems Partners with Potomac Conservancy to Celebrate Earth Day 2019

Recent Articles...

DC Greens: Building Impact Through a Sustainable and Resilient Food System

Infrastructure + Impact Spotlight: Q&A with Lynn Heller of Climate Access Fund

Overcoming the Interconnection Bottleneck

Upsurge: Why CFOs are expanding their roles to include CSR

Upsurge: Why CFOs are expanding their roles to include CSR

Recent Articles...

DC Greens: Building Impact Through a Sustainable and Resilient Food System

Infrastructure + Impact Spotlight: Q&A with Lynn Heller of Climate Access Fund

Overcoming the Interconnection Bottleneck

Explore sustainable energy solutions with Sol Systems

Explore sustainable energy solutions with Sol Systems