The future of green business

 In blog

Climate policies and growing public support towards a clean energy future have not just significantly impact the discussion surrounding the safety and protection of our planet, but also the concrete economic benefits investing in renewable sources yield.

Earlier this year, over 300 companies in the U.S., including Google, Facebook, General Motors and Walmart, formally launched the Renewable Energy Buyers Alliance (REBA), which is considered the “largest group of clean energy buyers in the United States,” according to a statement. Global Director Jennifer Layke of the Energy Program at World Resources Institute said of the new organization, “The future will be powered by clean, renewable electricity—and large corporate buyers in the U.S. are leading the way. They’ve demonstrated how consumer demand can jumpstart a renewable future.”

Forbes reported the REBA is targeting 60,000 megawatts of non-utility renewables deployments by 2025, and the alliance said that in 2018, “corporate America signed 6,500 megawatts of renewable energy contracts.” The report noted that according to David Gardiner and Associates, there are currently “48% of the Fortune 500 and 63% of the Fortune 100 are vowing to cut their greenhouse gases, up their use of green energy or improve their energy efficiencies.”

But it’s not only the big companies that can participate in the growing sector and is in fact becoming more attractive and accessible to entrepreneurs looking into cost-effective, clean sources of energy. With the advent of energy storage and continuous development of technologies and processes to ensure reliability, the business opportunities are increasingly becoming more viable, in addition to government subsidies in research and development, job training, and financing small to medium enterprises.