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The Promise of Green Innovation: Some Opportunities in a Greener World

Glen Franklin, Director at Strategic Green Source and former SVP of Product Development at Citigroup shares how green innovation can drive green business growth.  

Energy is a basic concept. We need it for ourselves and for our devices. And it is at the core of climate change. Yet how we produce and consume it is exceptionally complicated and the prospect of changing all our energy-related systems to be more climate-friendly is overwhelming. Meanwhile, climate change impacts other elements of civilization, such as the availability of fresh water, public health, and biodiversity. That is a lot to consider.

With change comes risk and also opportunity. A lot of attention is being given to producing electrical energy using renewable sources but within the existing system. It is a good start. However, it relies on the concept of centralized production and distribution of electricity. Ultimately, producing electricity where and when it is needed will be more efficient and flexible.

Envision a future in which solar arrays on commercial buildings and small wind turbines produce electricity for local communities who are only part of a regional and national power grid in order to distribute excess power in times of need. Such a modular approach would limit risk and be more responsive to local needs. Data about the local power situation would be shared with adjacent cells and loads distributed appropriately. It could reduce or eliminate the need for long distance transmission lines with their environmental and aesthetic impacts. This system could potentially be managed very effectively in an energy market, where production and consumption information are used to freely trade energy units. It happens now on a limited scale with power utilities, and could dramatically transform how we produce, distribute, and price electrical energy.

Additionally, there is the time horizon associated with capital investments needed to adapt to or mitigate the changing environment. Addressing climate change is an inter-generational benefits transfer. We must take action for the benefit of our grandchildren.
Although there are rudimentary structures, like bond financing that allows expenditures today to be paid for across time and by those who benefit, significant opportunity lies ahead in this realm too. By developing financial and business models that effectively fund and support a long term perspective, we can take the steps necessary to reduce environmental impact while continuing economic growth.

To find out more about the green opportunities available to for your business, contact Strategic Green Source: info@scgnyc.com/212 802 0800