While 90% of Australian businesses are interested in being environmentally sustainable, only half are actively doing their share, according to HP Australia. That is an interesting thought given that sustainable and eco-friendly technology is consistently improving. In order to get brands and businesses to be more environmentally aware, they must get a clear understanding of the benefits they can reap from solar panels and the like. So what sort of benefits exist?
Energy Cost Savings and Rebates
One of the ways retailers can become green is by embracing energy efficiency. Solar panel technology is a gateway to energy cost savings and energy efficiency. It’s also an opportunity to earn more money. A good example of this is David Green of Melbourne who sheared off nearly $500 from his energy bill by installing solar panels. Beyond that, he was able to earn $800 from the government as any excess energy he generates gets sent into the grid which is distributed to other consumers. These are savings and earnings that savvy businesses can take part in and it’s all because of embracing eco-friendly solutions.
Green Fund Loan
The Australian government is also embracing the sustainability movement and is actively empowering consumers to do the same. A common concern about renewable technology is the initial hefty cost that goes along with it. Australia’s answer to that is the Sustainable Australia Fund wherein consumers and businesses can offset the costs of solar panel installation prices through a loan that can be paid over a 20-year period. Needless to say, switching to sustainable technologies is an affordable and practical move that every business will benefit from.
Sustainable Consumer Benefit
Businesses listen to the loudest voice and this voice belongs to their consumers. Roughly 83% of Australians expressed that it was extremely important to them that brands offer environmentally friendly products and services, according to Accenture. From the packaging to the materials, consumers are now highly discerning about the brands they patronise. If a brand does not share a client’s conservation-led advocacy, those consumers are less likely to be customers. When brands do not adjust accordingly, their profit margins will eventually suffer. So businesses that embrace solar technology effectively attract consumers who are concerned about sustainability and the environment.
The concept of sustainability is not just a trend with benefits, it is virtually a necessity. Businesses must realise by now that being eco-friendly isn’t just a statement or a PR move. It is something that they and the community they are a part of will ultimately benefit from.