With more than 300 million Indians not having access to power and an additional 100 million receiving less than 4hours of power every day, India does face power drought in many rural areas(Nimbus Solar, 2018). Since most of the rural areas don’t have access to a grid for power, government bodies are promoting Solar PV Systems to resolve this issue.
Corporate Social Responsibility (CSR) being mandatory for companies valuing 500Cr or more, organizations have started researching on what campaign would be the most effective and beneficial in terms of cause and branding. This article will enlighten you on how solar can benefit CSR initiatives.
1. Two Issues, One Solution
A study suggests that consumers expect organizations to take up social and environmental responsibilities for positive branding(Cone, 2015). Promoting solar electricity consumption to power deficit areas deals with both the issues, which helps companies resolve both issues simultaneously without primarily focusing on one.
2. Cost Effective
In certain cases, government and rural bodies have gone ahead to support organizations set up Solar PV Systems by partly funding the setup cost. This helps use the additional funds to support other initiatives or more solar electricity projects.
3. Benefits are long term
Since Solar PV systems come with a generation capability of 25years, this initiative will be effective for a longer period in comparison to other CSR initiatives.
4. Establishing Oneself in a New Market
A Solar CSR initiative creates a positive brand image in a developing area of business. It showcases a sense of responsibility as an organization that is investing in the future.
5. Measurable Activity
Every Solar PV System comes with a remote monitoring system that can track the solar electricity generation and consumption at every solar installation site. This not only helps record the efficiency of the Solar PV system but helps understand the effectiveness of the CSR initiative.