Before any business proceeds with a commercial solar energy project, you’ll need internal approval from your leadership team. CFOs typically are not at the center of any organization’s solar energy sustainability movement. But the truth is any form of sustainability a business pursues is strategically imperative. Often times, it falls on the heads of facilities or operations to convince their chief financial leaders that solar energy sustainability is good for business.
At its core, the role of a CFO is to use resources wisely to ensure the business can thrive for decades to come. A financial leader has their focus set on long-term growth strategies, whether they be economic, social, or environmental; which brings solar energy to the table. But in order to get your CFO to see how the prospect of why commercial solar energy matters to the future of your business, you need to speak about it using their terms.
To get a good dialogue started, you need to start talking about solar energy in terms of risk mitigation, productivity gains, and, most importantly, cost savings. Here are a few ways to introduce the idea of commercial solar energy to your CFO.
Commercial Solar Energy Reduces Costs and Improves Efficiency
Depending on which state your business calls home, electricity bills can be astronomical. According to EnergySage, the average commercial property owner paid $1,950 in monthly electricity bills before going solar. After their solar energy system installation, their monthly electricity bill reduced drastically by 75 percent -- approximately $500.
These cost savings can be reinvested into your company and help make other aspects of your business more efficient. Think of the utility savings being recycled back to make better processes, upgrade equipment, or improve working conditions. These are all things that add up to a stronger company.
Sustainable Solar Energy Mitigates Risks
Your CFO focuses on assessing and reducing long-term risks. A new way to forecast risk is through the lenses of sustainable solar energy. Depending on your industry, your company may be faced with significant challenges that deal with water scarcity, climate change, or natural resource shortages. Having your CFO see how solar energy sustainability can impact your company’s long-term viability, they can properly anticipate these risks and come up with a suitable solution.
There are also regulatory risks that could come with heavy fines. Climate-change legislation and the movement to reduce environmental impact from corporations have already been instituted in some portions of the United States. Convincing a CFO to avoid potential financial penalties is another way to grab their attention and have them strongly consider solar energy for your business.
Solar Energy Creates Additional Revenue Opportunities
Sure, CFOs are concerned about the cost side to their business, but they’re also looking at ways to create additional revenue streams. Commercial solar energy solutions have a powerful impact on a company’s brand. Consumers are searching for companies in the market they can trust and relate to. Your company’s story of becoming more sustainable and shifting to solar energy to power your business can be the deciding factor in whether someone chooses your products or services over one of your competitors. This competitive advantage can render additional financial growth.
Enhance Employee Recruiting and Retention
There is an opportunity cost any CFO cares about when it comes to unfilled positions on your team. Acquiring and training new talent takes time, energy, and money away from any business. Progressive companies are trying to figure out how to keep more employees from moving away. Seeing how your business is making efforts to become more sustainable can create a sense of community and inspire employees to become more involved in your overall sustainability efforts. Such initiatives can lead to additional innovation within your company’s walls, a stronger retention rate, and increase company loyalty.
At Telamon Energy Solutions, we help create sustainable, solar energy systems for organizations across multiple industries. Our focus is on supporting the conservation, management, and solar energy generation for a business while helping to develop a clear corporate energy strategy that is customized to your business. Request a free energy assessment of your business today.