Southern businesses are turning more towards renewable energy sources and the power companies in the south are innovating new ways to provide power to all customers. This can fuel other businesses to grow in sustainable ways as well as increase economic opportunities for business owners and citizens alike. Some of the innovations in renewable energy may seem like they have a tiny impact, but these changes can be felt in all industries and can lead to a more sustainable future.
Economics of Committing to Renewable Energy
The economics of companies committing to renewable energy are broader and more beneficial than you might think. When large companies buy solar panels for their locations, they are not only saving on energy costs, they are setting an example for other businesses and fueling more innovations in affordability, scalability and job growth. Solar panels can save your company overhead costs but can also drive up sales by showing your customers that you are committed to sustainability and their futures. This can help your products and services appeal to audiences who are looking to support environmental efforts and can help you cut prices on some of your products and services to reward loyal customers.
Energy Storage Technology
Not only are more companies investing in innovations in energy storage technology to build better and safer batteries, but the technology coming out of these investments is making it cheaper and easier for companies to go green. Better batteries for small devices mean more ways you can power your products and more satisfied customers. Some battery innovations involve making it cheaper and safer to build and ship electronics around the world, opening new markets for your products and services.
Grid Parity and Falling Costs
Grid parity means that new innovations produce power at levels of cost and performance that traditional methods produce. With every advancement in technology, it becomes cheaper and easier for power companies, corporations and homeowners to use renewable energy. Many methods, such as solar, can appeal to the average citizen who wants to be able to charge devices on the go, take more tech camping or on long car trips or have a backup for air conditioning power on hot days when the grid is stressed. Each time new innovations reduce the costs of renewables, grid parity becomes more reachable, which fuels even more new technology and techniques to lower costs. Southern Company is working on bringing these innovations to your community through new investments in renewables.
AI has the power to streamline processes and reduce costs in many industries and the energy sector is not an exception. When artificial intelligence harnesses data analytics to automatically move solar panels to find the best angle to the sun, you can see increased power generation in huge solar farms and from rooftop business or residential panels. Computer learning can also help establish and maintain microgrids for business complexes or communities alike with each input of data helping the AI adapt better and more quickly to changes in the sunlight throughout the day and seasons. This same technology can be harnessed in your office buildings to turn out the lights when there is no one in the room and other power-saving techniques offered by smart building systems. Tech innovations are no longer isolated in Silicon Valley, you can find the right solutions to renewable energy in your own backyard.
Investing in Developing Countries
Some organizations and corporations are investing in the power grids of developing companies to bring them online with renewables with much more efficiency. In some ways, it is cheaper and easier to create a fully renewable grid in areas without an existing power grid because the two technologies do not have to be integrated. When you add to that the fact that an increased access to power can fuel future generations of innovative brilliance, the investments can pay off in more than one way. Not only can investing in developing countries open new markets for your business, but it can fuel the innovations to better power your communities in the Southern United States.
Innovations in the energy sector can save you money while giving you a better carbon footprint almost anywhere you do business. There are even initiatives centered in the Southern United States designed to help businesses of every size invest in renewables, sustainability and solar panels.