Large corporations such as Apple, Target, and Walmart are making the shift towards solar energy, and for good reasons:
- Solar increases the commercial property value
- Solar significantly reduces overhead costs from electricity
- Solar panel systems provide a great ROI
- Going green creates brand equity
While the first three are fairly obvious, what exactly is brand equity? Well according to the folks at Shopify, “brand equity is determined by consumer perception of and experiences with the brand”.
Let’s explore why going green can help increase brand equity more closely and how it might impact your business.
1. It attracts & retains environmentally responsible consumers & employees
Going solar contributes to your brand equity and image by showing that your company thinks and cares about environmental and socioeconomic impacts. Since some of your potential customers are attracted to companies with sustainable business practices, they’ll be drawn to your business, resulting in higher consumer confidence, sales, and revenue.
Additionally, prospective employees often look for environmentally responsible companies, leading to a stronger pool of candidates and higher employee retention rates.
2. You’ll earn the “Green” label & tie your brand message together:
Going solar can help you acquire the “Green” Label, elevating your status as a socially responsible company. Remember: when you engage a solar company to install your solar panel system, you’re also using local and regional workers in the process.
Going solar makes even more sense if you’re in the business of producing environmentally friendly products & services. You can easily mention that you’re a solar-powered business on your products as well.
3. Going Solar gets you noticed:
Whether you’re a new business looking for a progressive image and enhancing your brand equity or an established business looking to upgrade your building, making a shift to solar energy is a cause for celebration in the community. Businesses often hold open houses when their solar panel systems go live, inviting both community members and local media. In doing so, these businesses raise community awareness and may even encourage attendees to make the shift to solar energy as well.
Businesses can play a vital role in taking the lead and educating their community about the advantages of renewable energy options. Going solar means your business can display leadership in the community, attract customers, and enhance your brand equity, elements that go above and beyond just the financial advantages.