The Increasing Affordability of Clean Energy

Climate change is a serious problem, and it’s time to address it. This topic of contention has divided political parties and scientists alike—yet the evidence is clear, at least according to the Intergovernmental Panel on Climate Change, who argues, “Scientific evidence for warming of the climate system is unequivocal.” The effects of global warming aren’t just limited to melting ice caps and polar bear displacement, either. With more frequent extreme weather events directly caused by damage from fossil fuels, economic losses totaled a whopping $240 billion dollars, as outlined in a report by the Economic Case for Climate Action in the United States. Corporations are starting to pay attention.

Wind and solar energy have been the faces of alternative energy for consumers and businesses alike, specifically for their price point. Wind turbines, for example, have grown in sophistication, increasing their usability in locations with below average wind speeds. At the same time, their design has evolved to a larger size with higher durability, both resulting in increased energy output. The prices speak for themselves—currently, an onshore wind turbine produces an average of $0.06 kWh (per kilowatt hour) with many producing as low as $0.03 kWh compared to fossil fuels, which range from $0.05 to $0.17 kWh. Solar energy has also seen a steep drop in price with a notable gain in popularity. According to the International Renewable Energy Agency, solar energy is a cheaper alternative to traditional nuclear power. For example, the levelized cost of electricity generated from these solar panels has dropped 69% from 2010-2016. Businesses are starting to take notice.

Goldman Sachs is a leader in private investment in renewable energies. The investment firm has funded several different eco-friendly projects with the ultimate goal of investing $150 billion by 2025. Goldman Sachs is also one of the few to transition their investment projects in-house. The bank has continued its own push to be more eco-friendly and cost-efficient by purchasing a 68 acre wind power farm to power its operations—another step towards its goal of 100% clean energy usage. Traditional fossil fuel companies are even starting to change their business models. Starting in late 2017, Shell began investing in various solar and natural gas companies and have since invested more than $400 million in a wide range of clean energy acquisitions with markets clearly favoring the renewable energy industry domestically and worldwide.

The renewable energy industry is largely funded with private investments with many governments hesitant to lose trade advantages and financial influence that the coal and oil industry hold, which, given the rapid advancement in the functionality and affordability of these clean energy sources, is nothing short of remarkable. There is clear opportunity for continued advancement in the near future, as a result of certain policies– especially in regard to carbon taxes, which some estimates give $200 billion in revenues just within a decade if implemented. However contentious the topic may be, it is important to address our fossil fuel consumption, and innovators and engineers are taking notice. With the technology improving and businesses increasingly saving money, it’s nothing but blue skies ahead for the clean energy industry.

Follow us on social media for the latest updates in B2B!



Preventing burnout
Achieving Professional Growth and Preventing Burnout: The Importance of Time Management and Support Networks in a Fast-Paced World
May 23, 2024

In today’s fast-paced world, balancing professional growth with personal well-being is more crucial than ever. With the rise of remote work, digital transformation, and the constant hustle culture, finding this balance has become a significant challenge for many. A survey conducted by Deloitte suggests that a whopping 77% of professionals experience burnout at work….

Read More
Fan-Centric Business Transformation
Prop Room
May 23, 2024

In this episode of the Fans First series, Jesse Cole, the mastermind behind the Savannah Bananas, shares with us that in the vibrant world of marketing, creativity knows no bounds—a philosophy embodied by a prop room and studio teeming with eclectic costumes and outlandish ideas. This creative hub, seemingly disconnected from conventional themes like bananas,…

Read More
Ace Gardner and Jacob Lewis discuss NIL Deals and Transfer Portals
NIL Deals and Transfer Portals are Also Impacting College Staff and Their Roles
May 23, 2024

College sports is undergoing a significant transformation with the advent of Name, Image, and Likeness (NIL) rights and the increasing prevalence of transfer portals. These changes are reshaping how college staff operate, presenting both opportunities and challenges. With the rise of NIL deals and transfer portals, understanding the behind-the-scenes impact on college coaching staff…

Read More
sales process automation
The Future of Business Success Lies in Real-Time Feedback and Sales Process Automation
May 22, 2024

Amid the rapid pace of technological advancements, sales processes are undergoing significant changes. Companies are increasingly pressured to enhance efficiency, accuracy, and customer satisfaction. According to Forrester’s 2023 report, a staggering 90% of global business buyers experienced stalled purchasing processes due to economic headwinds, emphasizing the importance of price transparency and the need for…

Read More