Renewable Energy Funding Essay Example

Transforming the US energy systems from non-renewable energy (coal and gas) to renewable energy was a vision spearheaded by environmentalists in the past but now it is shared by market purists. According to the recent statistics by the US Energy Information Administration (EIA), in the first half of 2018, the renewable energy sources accounted to 20% of the net electrical generation in the country (Hill, 2018). Furthermore, the EIA reported the renewable energy narrowly surpassed nuclear power consumption. Both wind and solar energy generation experienced a strong growth and together, they contributed a tenth of the US electrical generation. Even though natural gas and coal are the top electricity producers in the country, they experienced a 2 and 3 percent drop in 2017 (Hill, 2018). In light of the environmental sustainability policies to curb carbon emission and the greenhouse effect, clean energy has become a choice for many Americans. As a result, Ford Motors under its corporate social responsibility (CSR) of improving lives should partner with the Solar Energy Foundation to conserve the environment using clean energy.

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Since the Ford Motor Company is geared towards a sustainable future with the production of eco-friendly vehicles that are electrically powered, it is in the company's best interest to participate in the green revolution. The Solar Energy Foundation is a non-profit organization with the objective of providing clean energy to millions of homes in America. The organization is sourcing for monetary resources and sponsors to fund its green initiative.

The Ford Motor Company works to fulfill its mission of creating a better world and improving the lives of people across the globe. Since 1949, the company has invested $1.5 billion in communities across the world under its Ford Fund initiative (Ford Motor Company Fund). The primary funding beneficiaries have been in education, safety driving, and community life. It is a high chance for the company to invest in green energy as it aims to compete for the electric vehicle car market.

Partnering with a green energy non-profit organization as the Solar Energy Foundation that is building wind and solar energy infrastructure to add power to the electricity grid will become a successful CSR initiative. Ford will not only penetrate in the electric vehicle niche' but it will win the hearts of millions of Americans promoting eco-friendly projects.

Renewable energy, particularly in the wind and solar energy sectors, have been creating jobs faster than the rest of the economy. Wind and solar projects accounted for 62% of new power construction projects in 2017 while coal projects plummeted (Morris, 2018). Most importantly, greenhouse gas emissions from consumer spending on power and power generation have declined. Therefore, Ford stands to benefit immensely from the Solar Energy Foundation partnership as well as aid in the reduction of greenhouse emissions.

By focusing on green initiative sustainability projects, Ford Motors will have a powerful CSR message that will attract consumers in the eco-friendly market domain. Besides, increasing the company's funding in renewable energy will spearhead the company's message for a better world under its electric vehicle project. Likewise, Ford will promote the Solar Energy Foundation to achieve its mission of environmental conservation and sustainability.

References

Hill, J. (2018, August 28). US Renewable Energy Sources Surpass Nuclear In First Half Of 2018. Retrieved from https://cleantechnica.com/2018/08/28/us-renewable-energy-sources-surpass-nuclear-in-first-half-of-2018/

Ford Motor Company Fund. Ford Goes Further In Our Communities. Retrieved from https://corporate.ford.com/content/dam/corporate/en/company/community/ford-fund/Ford-fund2015.pdf

Morris, D. (2018). Renewable Energy Surges to 18% of U.S. Power Mix. Retrieved from http://fortune.com/2018/02/18/renewable-energy-us-power-mix/