Sustainability has been making the headlines more than usual and among one of the key resources associated with it is none other than clean energy. With the buzz and growing importance to go green, businesses are currently being pressured to adopt sustainability practices or face the consequences, leading companies such as Facebook and Verizon to massively deploy clean energy.
However, the green movement is set out to be a challenge due to the ongoing energy crisis caused by the Ukraine-Russia war, businesses are poised to absorb higher OPEX in light of this ongoing phenomenon. Moreover, considering the deployment and success rate, solar energy is the most accessible and scalable option among other forms of renewable energies, allowing you to fast-track your green goals and reap its advantages.
Here’s how these factors of clean energy will accelerate your corporate Environmental, Social & Governance (ESG) journey:
When it comes to implementing clean energy for your business, all you need is roof space! There are no behavioral changes and the installation does not take place in your direct working space, where it will not affect your business's day-to-day operations.
Once the solar photovoltaic (PV) system has been implemented and ready to go, your building will immediately start saving energy, accelerating your ESG journey.
Your internal and external stakeholders including clients, partners and vendors may already be asking you when the business is going to show any form of sustainable commitment. How solar addresses that are through decarbonization as it does not emit any additional form of carbon emissions during its generation, bringing your corporate decarbonization game to the next level.
As solar energy is quick to implement, your corporate green goals will see immediate results, thus, giving confidence to your external stakeholders.
Investing in clean energy states that your organization will move forward with less reliance on conventional power sources and reduce reliance on fossil fuels.
Moreover, with suitable clean energy solutionists, your business is bound to ensure your investment brings you optimum long-term value in terms of cost, ROI and savings. As a clean energy solutionist, we take pride that our clients have reaped the financial benefits of going green, which include saving up to 50% on their energy bills, thanks to existing clean energy schemes and tax allowances of up to 48%.
One of our clients, UWC, stated they could save power and lower carbon emissions through clean energy.
“By embracing solar energy, we could save our electricity bills up to RM250,000 per annum. That’s why we think solar energy is one of the best [solutions]. And of course, thanks to MIDA, they facilitated the GITA tax incentive that contributed to savings on our electricity bill. The ROI is expected to be within 3.5 years,” said Matin Ng, Deputy Group CEO of UWC Berhad during the Clean Energy Transformation Program (CETP) between Plus Xnergy and leaders from various industries in promoting the adoption of clean energy.
Business owners who implement clean energy can also enjoy the benefits of Malaysia’s NEM NOVA (Net Offset Virtual Aggregation) Program initiative for commercial and industrial building owners which is part of the Net Energy Metering (NEM) 3.0 program which was announced by the Ministry of Energy and Natural Resources to further boost the uptake of solar adoption for the public and private sector, as well as the community. This NOVA quota was first launched in April to increase solar adoption for the commercial and industrial sectors, had already seen a 100% uptake just three months after its launch, and had released an additional 300MW of solar quota.
The national institution Bursa Malaysia announced its goal to be carbon neutral by 2022. As a result, more business owners across a variety of industries will be more inclined towards clean energy, increasing their competitive advantage at more competitive pricing.
On the other hand, the 12MP announced carbon tax credits, which will tax companies burning fossil fuels by volume or weight of emissions from anywhere in their supply chain. With its coming implementation, businesses should leverage this opportunity to avoid potential penalties.
In the 26th UN Climate Change Conference of the Parties, COP-26 involved countries such as Malaysia, companies have committed to lowering their carbon emissions, sourcing sustainable raw materials with low to no impact on carbon emissions to enhance competitiveness and cost structure.
Solar energy would not only increase the reduction of carbon emissions, avoid carbon tax credits but empower your company to generate its own energy via a clean power source and become one of the leading companies within your industry to initiate carbon neutrality.
As our nation pushes on with its energy transition, clean energy empowers your corporate ESG journey with its scalability, proven value for money, competitive advantage and the ongoing climate crisis.
With the energy crisis, inflation, labor shortage and findings from the IPCC report, prioritising the energy transition towards renewables to decarbonise energy is a necessary action on climate change, along with benefits such as new sources of growth, increasing incomes, creating jobs and improving health and wellbeing of millions according to IRENA.
By leading the change in clean energy, your business can be one of the few within your industry to fast-tracking sustainable efforts in order to battle climate change, especially in fast-growing economies such as Malaysia.
With some of your questions answered on how clean energy will empower your net-zero journey, we hope this brings further clarity to how your business can move towards a more sustainable future.
Make the switch to clean energy for your business simple and hassle-free with a clean energy solutionist who takes care of everything from local authority liaison to the completed system.
To inquire more about this solution for your business, contact us at [email protected]
Or for more building energy solutions, source smart energy savings with AIoT by visiting our energy efficiency sites.
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