Renewable energy seems to be one of those concepts that resurfaces every 3-4 years as new concerns over global warming emerges. However, aside from the political concerns, companies are now focusing even more on a topic called Triple Bottom Line Analysis. What this means is the company turns its focus to the environment, it’s people (employees), and profit. This theory was created by a British Economist, Johyn Elkington, in 1994. In short, his theory states that if you start to focus on your employees and the environment, you’re bottom line will have more of a profit in the long term. One day that companies are slowly adopting this practice is through LEED design.
With LEED design, this makes a higher expansion of renewable energy projects possible. From Amazon’s LEED buildings with built in wind farms, to energy savings, and solar panels. It is estimated that 13.44% of the energy produced in the United States comes from renewable energy sources. Focusing efforts on using renewable energy cuts the company’s dependency on fossil fuel, which results in energy savings and profit growth.
LEED design is also great for job growth. It was reported by the Department of Energy that over 1.4 million of the 2 million construction jobs in 2016 were focused on the energy efficiency segment. The demand for these types of projects keep growing in demand and is making it a booming segment within the construction industry.
So what’s next?
That’s a great question. According to the article, some may argue that the renewable energy industry is on the way out, but economic data says that it is still growing and making it a competitive profit center for the economy. The construction industry should keep increased demand and improved technology when it comes to solar and wind systems. Only time will tell on how and when the complete shift to renewable energy will come. To read the entire article click here.