Sustainability is a core concern and consideration for any business operating today. Working towards more sustainable practices can prove extremely beneficial to any organization willing to make the leap, and one of the most impactful shifts an organization can make is moving from fossil fuels to clean energy. While it may seem like a daunting and capital-intensive task, for most companies an initial investment can pay off dividends in energy savings down the line — afterall, renewable energy is less expensive than fossil fuel alternatives in over 60% of the world.
According to Jorge Arevalo, founder and CEO of the hydrogen-based fuel company eCombustible, breaking into clean energy is the logical choice for any organization to not only save costs but mitigate their environmental impact. As businesses set their corporate goals for a post-2020 and pandemic world, a key priority should be the transition to cleaner energy. The following list key reasons why now is the time for businesses to make this critical investment.
- Lower Costs in the Long Run
“If you’re in the position where you have to convince a business owner to switch to alternative fuel, nothing speaks louder than financial gains,” notes Jorge Arevalo. “This is a great first step for anyone who may be concerned that alternative energy will represent a significant cost.”
While converting to alternative fuel sources can require an investment upfront, studies reveal that in the long term, alternative fuels to fossil fuels will save money and lower costs. Another important point in favor of alternative fuels is that fossil fuels will only become more expensive as they increase in scarcity, meaning that a shift to alternative fuels will not only lower costs in the near future, but future proof your business for any long-term fuel concerns.
The cost savings of alternative energies can be quite substantial. For example, a mine owned by one of the largest operators in the world realized over $320 million in fuel savings across 10 years through the use of Combustible.
- Lower Emissions
“From an ethical standpoint, shifting to alternative fuels is a strong choice due to the associated reduction in emissions and a business’s carbon footprint,” says Jorge Arevalo. “For those who might not find this to be a compelling argument, from a PR standpoint, reduced carbon emissions is always a strong appeal,” he continues.
Although some renewable energy options result in negative emissions, the amount is far lower than what would be released with conventional fossil fuels — and innovations in fuel like eCombustible are emissions free, providing even greater options for companies. Making the switch to alternative fuels is an important step in ensuring the organization is a good corporate and environmental steward, as renewable energy creates positive benefits for consumers, the general public, and the earth as a whole.
- Strong ROI
A strong return on investment will appeal to any business owner. With the adoption of particular forms of alternative fuel, businesses of any size can reap a serious return on investment.
For capital-sensitive organizations, look for alternative energy solutions that are modular in nature and implementation. This will allow the company to pilot new fuel technologies in just one part of their operations and then expand the implementation as they ROI. This approach helps eliminate risk and create confidence in the shift.
“For some of our initial clients, the fact that eCombustible was a modular technology was a huge point of excitement and differentiation,” explained Jorge Arevalo. “eCombustible works in existing equipment and has very low transition costs. This means people can take a chance on an impactful, green technology without the traditional risks of renewable transitions.”
- Less Service and Supply Disruptions
Eventually, the world will run out of fossil fuels, creating the ultimate service disruption. Businesses must now think about how they can transition to green energies, as even natural gases can be highly polluting compared to alternatives.
It’s important to note that some green energies, such as wind and solar, do entail innate supply disruptions. For example, the sun must shine or the wind must blow in order to generate energy, and that energy must also be stored. As such, there has been a lot of interest in hydrogen-based fuels as the supply is not dependent on the weather.
“Supply security is top of mind for almost every industrial organization,” explained Jorge Arevalo. “eCombustible is created on-site and only requires water and electricity, of which most companies already have reliable sources — making it a uniquely dependable and secure energy solution.”
The justifications for investing in clean energies are immense and its results will impact both business and society. As innovations in alternative fuels continue, the benefits to corporations and opportunities for cost savings will only grow.
SOURCE: Jorge Arevalo (Energycentral)