Economy makes up the second supporting pillar for sustainability. Similar to how social sustainability is required for a balanced and healthy community, economic sustainability, or the responsible and efficient use of resources to produce profit, is also needed for the triple bottom line to progress. Generated profit allows a community or business to reinvest in all three pillars and continue working toward maintaining the complex sustainability matrix.
The economic pillar often acts as a counterweight for a business or community that is also taking steps forward on an environmental and social level. Perhaps one of the largest aspects of a sustainable economy is the creation and support of future and existing jobs. The steady income provided allows employees to in turn reinvest in their own community. Innovative practices and technological advancements such as waste reduction techniques, life cycle costing and analysis, sustainability assessments, and speeding the distribution of new technologies through community testing and demonstration also support social prosperity and environmental health. Using this methodology, a company practicing true sustainability may neglect exceptionally profitable avenues if the resulting impact on society and the environment is negative. Instead, the benefits of a collaborative approach with the community, (e.g., working with neighborhood partners to revamp a local intermediate school with renewable technologies), new efficient water and energy management capabilities, and educational opportunities outlining the improvements’ positive impact, may far outweigh the initial investment.
Economic sustainability is a necessity at Arch Electric and deeply ingrained in our core values. Offering new solar and storage technologies to our customers allows us to continue to provide jobs locally and give back to our community. For our customers, going solar is an investment opportunity and a form of renewable energy that lessens reliance on unsustainable energy production and offers a return in the form of low or nonexistent electrical bills!
Contact us today to learn more about how a solar system installed by Arch Electric can affect your bottom line!
This post was written by Rebecca Nicholson