Rethinking Our Energy System

Green energy, which is available in abundance free of cost, clearly underlines the need to use green renewable resources instead of conventional energy resources for higher energy efficiency. This is not only a great initiative as a sustainable business practice but also makes sense in terms of better profitability of a company.

The agenda of using renewable resources to power India is led by Prime Minister Narendra Modi, who announced a target of 100 GW for solar power in 2014 and in January 2015 increased the target to 175 GW of renewable energy capacity by 2022 by including other renewable resources like wind power and biomass. And under the Paris Agreement, India has committed to use only 40% of non-fossil fuel energy generation capacity. All this points to great opportunities for companies to leverage renewable resources for energy generation.

The shift towards green energy impacts three important areas:

Environmental

Economic and

Social areas

Environmentally, it helps reduce carbon emissions, thereby improving the environment and impacting humanity as a whole. Economically, it reduces the costs associated with fossil fuels, which impacts the profits of companies and also helps build a better brand image of the company. Investing in renewable energy creates more jobs and improves the social and economic condition of the country as a whole.

To start with companies can do an energy audit to check the current energy usage and find out ways of reducing energy consumption.

In fact, comparing commercial energy plans through platforms like Utility Bidder can help businesses identify better deals and streamline their shift to more cost-efficient and sustainable power sources.

Businesses need to focus on business model innovations to find new ways to generate, distribute and capture value from renewable energy technologies. For starters, companies can conduct energy audits to check current energy use and find ways to reduce energy consumption. One of the easiest ways to achieve energy efficiency is through efficient lighting solutions – using CFL or LED bulbs or tubes, natural lighting, adding insulation to buildings to prevent energy loss and considering other innovative ways of energy savings and efficiency.

Energy efficiency projects can vary in terms of complexity and investment, based on simple changes in energy use policies or investing in large-scale renewable energy use. Most investments yield great returns with a relatively short payback period. AT&T is a great example, saving millions of dollars in energy costs since 2010.

At Lavancha, we bring significant energy savings and efficiency through our daylighting solutions and hybrid energy solutions. Daylighting solutions capture daylight and distribute it into interior spaces for lighting. This significantly reduces the costs associated with electricity. Hybrid energy solutions use solar and wind energy to provide an adequate energy supply to power industries and homes.

With extensive research and study, Simon passionately creates blogs on divergent topics. His writings are unique and utterly grasping owing to his dedication in researching for distinctive topics.