Good for Your Triple Bottom Line: How Solar Can Bolster and Improve Your Profits

You've established a solid and successful company in a desirable location, and in a building you own. Is there any way you can improve upon your accomplishments? The short answer is yes. Now is the time to start focusing on your Triple Bottom Line (TBL). In economics, companies are thought to gain economic benefits by focusing as much on environmental and social issues as they do on profits. According to TBL theory, rather than having a single bottom line, companies should have three: profit, people, and the planet (Investopedia).

With energy costs constantly on the rise, you're not gaining any additional value from the energy that you purchase. Instead, you're simply adding to the profits of your local utility monopoly. Investments in solar energy can limit your out-of-pocket spending in this area to provide a more manageable overhead, a lower carbon footprint, and a greater ability to focus on your core mission. You're also able to claim important tax benefits of 44 percent of your solar installation costs or more.  More importantly, once installed, this system will both pay for itself and cut your operational costs every year. With less money being spent on overhead, your profits will invariably improve.

Solar Installation Benefits

There are certainly other cash benefits that can be gained from solar installation. With consumers becoming increasingly concerned with the natural environment, 78 percent of Americans are buying green products and services. Moreover, according to Tork Green Business Survey, when businesses maintain ethical and responsible manufacturing processes, 46 percent of Americans are more willing to pay for their products. Thus, investing in solar energy won't just reduce your carbon footprint and lower your yearly spending on energy; it can also create dramatic increases in both marketability and goodwill.

Environmentally friendly businesses are increasingly popular among the younger generation which is the same cash-rich market you want to target. Your marketing team can leverage this upgrade to both boost sales and show the public and your staff that the community is important to you.

Environmental Impact

Solar reduces pollution in your community, and it's good for the environment. Unlike gas-powered vehicles, buildings don't have tailpipes, but they do create considerable pollution at the plant. Direct greenhouse gas emissions from homes and businesses were responsible for 12.3 of all U.S. greenhouse emissions in 2018. If your building has a sunny roof, you can reduce solar heating at the building interior and lower your overall energy costs.

Conclusion

If you're ready to make your business a more environmentally responsible, modern, and appealing company by focusing on your triple bottom line, I can help. Call me today for a consultation and to learn more about how installing solar can bolster and improve your triple bottom line.