Blueprint your company’s renewable energy strategy to achieve economic development

By Anita Jaynes on 3 April, 2024

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Waste has been expanding considerably in the past years, becoming damaging to the environment and humans. On a larger scale, waste affects the economy, leading to less natural resources available for manufacturing, lower tourism and increased waste clean-up costs. 

But the effects of waste go further than that, being a danger to human life. Hazardous, chemical and municipal waste damages the air, water and soil where plants and animals live, leading to a rapid decline in species. At the same time, waste affects humans, too. For instance, plastic infiltrated the environment, and the entire pollution circle made researchers discover that we have microplastics in our blood

Therefore, companies should change their approach and switch to renewable energy to lower carbon emissions and waste. But how can businesses create such an efficient strategy? 

Finding cost-saving and durable solutions 

Companies were used for a long time to discard all the unnecessary items in rivers and landfills, contributing to the current situation of climate change. However, what they could do to prevent frequent waste would be to invest more in durable machinery cost-saving strategies. 

For instance, installing solar panels must be done in consideration of the materials used. Durable products created by an injection moulding company are specially made for large products, as every piece is optimised and the process is sustainable. 

It’s essential to conduct a sustainability audit to understand what the company really needs in accordance with its pollution levels because it helps address many other aspects, like waste management and supply chain. 

Setting real renewable energy goals 

Setting accurate goals is crucial to achieving them because approaching renewable energy requires serious investments and implications. Such goals can be anything from wanting to reduce the company’s greenhouse gas emissions or obtaining renewable energy licenses. 

You can take advantage of the sustainable audit and analyse energy data that show the need for improvement. However, you must also consider the project’s feasibility, which can sometimes be negative due to high installation costs and maintenance or the availability of renewable sources in the area. 

Consulting business partners can contribute to better decision-making, especially when it comes to large-scale projects. Companies like HSV TMP can help streamline sustainability at a larger scale by designing products that last. 

Choosing between renewable energy options 

There’s an impressive variety of renewable energy resources and technologies, but not all can be leveraged everywhere and in whatever conditions. Analysing which option fits the situation and adopting it accordingly can impact the business considerably, so here are possible solutions:

  • Solar energy requires solar panels to transform the sun’s energy into electricity and is a popular option for companies and even regular users. Still, they can be pretty expensive, from the initial costs to the storage, and might not offer consistent power;
  • Bioenergy comes from organic materials that produce energy and release carbon into the atmosphere. Although it is cleaner than fossil fuels, it can be inefficient compared to other options and still releases greenhouse gases;
  • Wind turbines capture the wind’s energy and turn it into electricity. However, only a few regions might be appropriate for it, where wind is constant and powerful enough to make an impact truly; 

These are standard solutions, but waste heat recovery, hybrid storage and energy analytics can also be implemented by massive companies that can cover the installation costs. 

Monitoring the strategy 

Although implementing a renewable energy strategy can be pretty tricky, it’s more important to monitor its outcomes. In most cases, adopting sustainability will have a significant ROI, but that’s not the case for all businesses. 

Creating a specific team that manages daily monitoring would help keep things in line and ensure progress is linear, at least in the beginning. Some areas of the project may need improvements constantly, whether it’s about modifying the budget or extending the project. 

Being up-to-date with the project’s dynamic may help acquire new collaborators on the way, offering numerous opportunities for development. So, being open and transparent with the journey of using renewable energy resources can be efficient to expand the business. 

Following Europe’s legal provisions 

The EU has been open about leveraging renewable energy for companies, as it has provided several financial plans and opportunities to make installation easier. For instance, it launched three initiatives on solar energy:

  • Leveraging rooftops for clean energy through which residential and commercial buildings would have to install solar panels gradually in the future;
  • Improving the skill gaps regarding the renewable energy sector to support the demanded workforce for green jobs;
  • Enhancing the EU Solar Energy Strategy to help supply chains achieve diversification and avoid disruptions;

Any company in the European Union can get crucial information about green practices and opportunities based on the Commission’s efforts to minimise carbon offset and waste. 

Avoiding greenwashing 

Although implementing green strategies is wonderful, some companies might not be wary of their approach and be suspected of greenwashing. This practice is usually done intentionally by businesses that haven’t approached sustainability but are marketing it as their own. 

Avoiding misconceptions about sustainability can quickly be done with the right strategy. This means approaching a clear and transparent communication strategy and addressing the wins and losses. False claims should also be avoided because they can be found not to be accurate, thanks to the vast internet. 

When disclosing information about the company, it’s best to include data that shows the entire picture. Highlighting only the good part of the story, while challenges and improper strategies lay under false environmental claims is the fastest way to failure as a brand. 

Creating a brand image that focuses only on green pictures and colours may also not be accurate because sustainability cannot be comprised of a single concept. Hence, showing the true side of sustainability is best. 

Final considerations 

Climate change is affecting the planet by bringing droughts to crops and fatalities to animals and humans. Managing it must be done by companies whose contribution to the environment is nothing but damaging. The best current way to do it is by creating a strategy where renewable energy is prime, therefore leveraging the power of the sun or the wind to save costs and help the economy flourish. 

Image by Sebastian Ganso from Pixabay