The growth of renewable energy and how it could help your firm

The growth of renewable energy and how it could help your firm

The growth of renewable energy and how it could help your firm

Renewables such as wind and solar power are becoming an increasingly important part of the UK's electricity mix.

For businesses, this means that using renewable energy is more feasible and affordable than ever. Choosing this option can deliver some very attractive benefits.

Record-breaking renewables
Figures released by the Department for Business, Energy and Industrial Strategy towards the end of September 2017 showed that renewables' share of electricity generation reached a record high of 29.8 per cent in the second quarter of 2017.

This figure marked an increase of 4.4 percentage points from the same period a year earlier.

Overall renewable electricity generation was 22.5 terawatt-hours (TWh) during Q2 2017, a 13.6 per cent increase from the 19.8 TWh recorded 12 months earlier.

The government figures also showed that low-carbon sources accounted for an unprecedented 53.4 per cent of electricity generation in the second quarter of this year, up from 46.7 per cent in Q2 2016.

These trends were welcomed by trade association RenewableUK, which pointed out that onshore wind has performed particularly strongly. Its affordability means that onshore wind plays an important role in keeping bills down for domestic and commercial users of renewable energy.

RenewableUK's executive director Emma Pinchbeck said: "It's terrific to see that nearly a third of the UK's electricity is now being generated by renewables, with wind power leading the way.
"The UK's renewable energy sector is an industrial success story, attracting investment, creating new jobs and powering our economy."

The business benefits
There are many ways for businesses to get on board with the renewable energy revolution, such as signing up to green suppliers or installing their own sustainable systems; solar photovoltaic panels and hot water systems, for example.

Here are some of the key benefits your company could gain from investing in this area:

Lower bills - Having your own solar power accessible on-site could make your organisation less dependent on external suppliers, which means lower costs. Furthermore, with renewables taking a bigger share of overall electricity generation, costs are coming down and it's becoming increasingly feasible for businesses to use specialist green energy providers.

Better environmental performance - Companies are coming under more and more pressure from government and consumers to show better environmental performance and adopt green standards. Being able to show that you are embracing renewables will strengthen your firm's reputation as an eco-friendly enterprise.

Improved employee engagement - Environmental matters are extremely important to an expanding share of the population. If your company demonstrates its commitment to driving progress in this area, it could strengthen engagement among your existing employees and boost your appeal to prospective recruits.

Preparing your business for the future - Fossil fuels such as coal and oil still play an important part in energy generation, but they are a finite resource whose environmental disadvantages are well documented. If you want to prepare your business for a healthy, sustainable future, renewables could be the wisest option.


Posted by Julie Tucker

Image courtesy of iStock/Halfpoint