As the effects of global warming continue to worsen around the world, scientists release increasingly dire reports concerning the trajectory of Earth’s climate. A future that is powered more by renewable resources, like wind and solar, is a future in a more liveable atmosphere.
It won’t surprise you to hear that residential and commercial solar power is growing in the United States, but many agree that it isn’t growing quickly enough. ReportLinker estimates that the U.S. solar energy market is set to grow by just over 17%, CAGR. And CAGR, or compound annual growth rate, assumes that profits are reinvested into the industry after each year, so it often over-estimates industry performance if anything. A 17% CAGR does still make solar one of the fastest-growing industries in America, but the point is that the severity of climate change dwarfs even that number.
In order to make the changes that our world needs, we at Simply Solar believe that the largest portion of that responsibility should fall on the shoulders of US-based companies. Here’s why we think large businesses need to be commercial solar power trailblazers to brighten the future of the planet.
That’s Where the Money Is
Large US businesses and their owners sit on billions and billions of dollars. For decades, American innovation and industrialization have been some of the best and most profitable in the world. Such is the nature of American capitalism that it is often the most profitable businesses that become the most top-heavy and contribute the most to a widening American wealth gap. Between 1989 and 2016, the wealth gap between America’s richest and poorest has more than doubled, and since the COVID-19 pandemic began in March 2020 and so many lower-income Americans started to struggle even more, the wealth of America’s billionaires actually increased by an additional 1.3 trillion dollars.
It’s those American millionaires and billionaires that own and operate America’s largest businesses. For obvious reasons, it is far easier for million-dollar corporations to invest money in commercial solar power, and they can do so in two ways:
- American businesses can and should upgrade their own energy systems to commercial solar power systems. Electricity is slowly growing in cost, which means that solar power is becoming more powerful; solar saves money. By upgrading their power systems to solar, commercial entities of all sizes will save money in the long run that they can then reinvest internally, all while helping to clean the planet’s air and water.
- American businesses and business owners should also invest their reserves directly into solar. They could do this by spending money on starting new solar companies, absorbing or partnering with existing solar providers to increase their resources and expand their reaches, or by funnelling money into solar research. With time, additional research and development in solar power will fuel innovation, lowering its costs and increasing its efficiency to help make it into an even more realistic prospect for new demographics of private citizens.
Businesses currently hold the resources to push the solar power industry forward, and since solar saves money for these corporations, why wouldn’t they?
Businesses Have Influence
It’s not often thought about in these words, but US businesses have a lot of influence in American finance, politics, and society as a whole. Businesses drive innovation, employ people, contribute to charitable organizations, etc. The health of a countries’ small and medium-sized businesses is often used as an indicator of that country's financial health as a whole. Businesses have a responsibility to positively influence American citizens. They can do this in two major ways:
- Politically - Because American businesses and business owners are deemed highly important by American politicians, they have the power to influence the political landscape in a positive way. They can accomplish this by financially supporting politicians who champion commercial solar power progression or by becoming positive influences in the field of renewable resources by actually using them, or by creating a company culture that celebrates them.
- Publicly - Since residential and commercial solar power are still relatively new concepts to many, American businesses can help normalize it, simply by proudly implementing it themselves. Solar can save money for individual homes as well as businesses, but not many people realize this yet.
American corporations can and should be solar power trendsetters by leading by example.
Look To Simply Solar for Commercial Solar Power Upgrades
Greater Bay Area businesses need look no further than Simply Solar - an industry-leading solar installation company with over 20 years of experience. Rather than hiring out contractors to complete installations, as is common practice in the industry, we at Simply Solar save clients money by employing in-house technicians to perform all installations. These projects can be designed to fit any individual home or business. Call us today for more information!
