First coined in 1953, the term “corporate social responsibility” (CSR) describes how companies should redefine their roles within the communities they serve. Instead of focusing solely on profit-maximization, businesses should work with stakeholders to improve society, whether through:
- Environmental protection
- Social activism
- Volunteer work
- Charitable giving
In effect, businesses have a responsibility to do the right thing because it is right.
However, CSR isn’t simply beneficial for society at large. When done correctly, it may actually increase long-term revenues for companies that make corporate social responsibility central to their business.
What role can commercial solar power can play in your CSR efforts? And how can installing PV panels increase your bottom line?
The Link Between Solar Energy and Corporate Social Responsibility
Fossil fuel consumption is one of the leading causes of global warming. The more oil, gas, and coal we burn, the more greenhouse gases we release into the atmosphere. These pollutants disrupt Earth’s delicate balance, leading to climate change and environmental destruction.
However, solar technology doesn’t emit CO2 or other greenhouse gases. And by installing PV panels, you reduce your carbon footprint and lessen the negative impact your organization has on the environment.
Note that going solar is not the only way to green your business.
Many companies publish environmental statements pledging their support for ecological responsibility. However, these are often used for PR purposes. After all, environmental statements are just that—“statements” with no legal backing.
Other businesses take more tangible steps, like investing in energy efficiency.
This is a much better approach since it reduces resource consumption within your company. Energy efficiency can also save you money by lowering your monthly utility bills. Moreover, it makes going solar more affordable than it already is. The less electricity you use, the fewer PV panels you’ll need to install.
But energy efficiency does have certain limitations:
- It can reduce your carbon footprint, but it can’t eliminate it completely.
- Energy efficiency can also increase total power consumption due to a phenomenon known as Jevons Paradox.
By contrast, solar technology doesn’t save energy—it creates it. And there’s no limit to how much power you can generate. In fact, enough sunshine hits Earth every hour to cover the world’s electricity needs for a full year.
Better still, the environmental benefits of your green investment are shared by all. You’re no longer burning dirty fossil fuel to power your operations. Your business now runs on clean, free sunshine. And the planet becomes less polluted for everyone.
This is why going solar can have such a powerful impact on your corporate social image.
The PV panels on your commercial property are visible and constant reminders of your environmental commitment. And you can also publish your carbon savings in whatever marketing literature you share with stakeholders.
Customers, investors, and suppliers will applaud your CSR efforts. But will installing PV panels actually attract more business?
Can Solar-Powered CSR Make Your Company More Profitable?
In a previous article, we explored how going solar may increase profitability by reducing expenses. Rather than rely on costly grid electricity, you’re able to create your own free energy on-site.
But can going solar increase profitability by generating new sales? More specifically, will potential customers care enough about your green power investment to want to do business with you?
The short answer is YES. But to learn why, read our follow-up article: Can Solar CSR Really Attract More Customers?
Schedule a free energy evaluation with us today to learn more about commercial solar savings and incentives.