Green Energy Sources: The Key to Keeping Your Business Profitable
March 19, 2020
Green Energy is the New Green
Businesses are turning to green energy sources to save money and free-up resources to invest in growth.
As important as the financial benefits of commercial LED lighting is the environmental upside. Incandescent bulbs release 90 percent of their energy as heat, whereas LEDs use energy far more efficiently with little wasted heat. One LED bulb will minimize greenhouse gas emissions by almost half a ton.
According to McKinsey, more than half (63 percent) of businesses have made a commitment to reducing energy use. Imagine the significant impact of converting your entire business to LED lighting!
Consumers Spend More With Earth-Friendly Businesses
Today’s customer is more conscious of the environmental impact of the brands they choose than ever before. In fact, The majority (73%) of consumers say they would definitely or probably change their consumption habits to reduce their impact on the environment.
Millennials, the largest segment of the workforce, are responsible for $1 trillion in spending and are especially concerned about giving their hard-earned dollars to those companies that have an environmental mission.
We tend to think mostly about how products are sourced, produced, and packaged, but how retailers, restaurants, and workplaces choose to light their businesses can have a significant and long-lasting impact on our planet.
Lighting can also improve the customer experience, as many retailers have discovered. Shopping or dining in a well-lit and environmentally-friendly atmosphere leads to a better atmosphere and perhaps even greater customer spending. So, going green has many levels of benefits.
Green Lighting Can Be a Competitive Advantage in Attracting Talent
Just as today’s employees want to spend with purpose-driven companies they want to work in places that are concerned about the environment. The right LED lighting saves money, which employers can then pass along to their team — offering more tangible benefits.
Close to 40 percent of millennials choose jobs because of their environmental policies and are even willing to earn less if their company is sustainability-focused. Human-centric lighting in the workplace also contributes to employee happiness and can relieve stress. Smart lighting and easily-controlled task lighting (tailored to the assignment and controllable by the worker) can also create a better work experience. The right environmentally-friendly lighting in areas like parking structures not only conserve energy but give employees a sense of safety and security.
When you’re recruiting, be sure to mention your company’s commitment to sustainable workplace design and lighting. Consider adding a “sustainability practices” section to your website, mentioning everything you’re doing to preserve the environment. Many people might not notice your efforts on their own, but reinforcing everything you’re doing to conserve energy and unnecessary expense can be a powerful differentiator.
How to Measure the Impact of Sustainable LED Lighting
Using a calculator like this one, paint a clear picture of what you’re currently spending on lighting and how much energy you’re using. Then paint it green by converting your business to environmentally-friendly LED lighting.
Track progress over time and deploy those savings to company growth. Or, donate some of the savings to environmental initiatives. Lighting is just one important element of creating — and sustaining — an earth-conscious workplace.