Grant Nicholson: A switch to renewable energy solutions
This week, the TTI Interview Series covers our network member Grant Nicholson. Grant Nicholson is a British entrepreneur specializing in renewable energy solutions. In 2018 he founded Planet-U Energy in Leeds, the UK’s fastest growing renewable energy provider with sales of £25 million. He was named Young Director of the Year 2020 by the Institute of Directors and received the Yorkshire Post’s Business Excellence Award.
In this interview, Grant talks about his ambition in helping all businesses switch to renewable energy solutions to save time and money while reducing their carbon footprint.
Understanding the benefits of clean energy for everyone
Grant, tell us about how your work intersects with the impact space.
It is no secret that the renewables market is extremely large and can be hard to navigate. Our goal is to make modern renewable energy easier for companies to access than ever before. This is important on many levels. It’s good for the planet but it’s also good for business. We’re working to help businesses understand the benefits of clean energy for everyone, now and in the future.
There are lots of aspects of our work that play a part in impact. Our first acquisition was a provider of renewable and sustainable energy equipment for both domestic and commercial markets. We’re also developing Planet-EV, our sister brand which will service the fast-growing electric vehicle charging market. Both of these ventures will offer practical solutions with financial benefits and a long-term legacy by reducing the environmental impact of energy use.
A collective vision to make a positive change and generate value
What is your own definition of impact?
To me, impact investing is about making a positive change in society, by addressing environmental and social issues or by influencing a wider sphere. Great impact contributes ideas, highlights opportunities and provides rigorous monitoring to help businesses prosper. With this support we can then use our privileged position in business to help local communities and wider society thrive.
The best examples of impact investment, in my experience, come from teams that share a collective vision to make a positive change and generate value through their work. Driving innovation is at the core of this for me. For example, continuous investment into R&D has always been 25% of our turnover at Planet-U Energy. I’m always seeking new ideas for opportunity and try to set aside at least one hour every day, creating new products or services to address change in the renewables market.
The lasting impact of how we live on our planet
Grant, what do you see as the most important issue to address in the next 10 years?
Climate change is the biggest issue we will face in our lifetimes. Unless it is brought under control, we face the reality of climate refugees fleeing countries to other nations for their own safety. Fuel poverty is also a very real concern with future generations facing being priced out due to rising costs.
With emissions rising, floods, droughts and wildfires will continue to devastate the planet unless we act now. Climate change and the resulting displacement of people across the globe multiplies the risk of conflict, insecurity, and destruction.
Despite the temporary drop in emissions due to the global lockdowns of the coronavirus pandemic, temperatures are continuing to rise. Climate change brings with it one of the biggest geopolitical threats humanity has ever known.
Nations are at risk of destruction, loss of resources and disappearing entirely if we don’t act now.
Now is the time for big businesses to take action and make big decisions around their fuel consumption. As a society we also need to think about how we live and the lasting impact this is having on our planet.
We’re playing our part at Planet-U by providing clarity and trust, so that every corporation can access a full turnkey solution for a greener planet while saving money. I’m proud of what we’re doing and I believe every business can benefit from transitioning to renewable or green energy.
Make renewable energy as transparent as possible
What is the greatest challenge you face to scale your impact?
We’re an industry that is still learning that profit doesn’t have to stand in the way of sustainable energy, the two can exist together.
We’re also an industry full of conflicting information. Different businesses will give customers their own version of the truth and that can lead to a mistrust of the energy sector as a whole.
To combat this, we’ve made it our mission to make renewable energy as transparent as possible. Based on the core principles of honesty, trust and absolutely no waffle, Planet-U has been a real gamechanger in an often-overhyped marketplace. In just a few years we’ve attracted high calibre clients such as Yodel, British Airways and The Jockey Club, and we’ve acquired a renewable technology business to drive our vision forward.
In wider terms, we are also facing a water crisis. An additional one billion people will face water shortages in the next 20 years. Climate change is disrupting weather patterns, causing unpredictable water availability, worsening scarcity and contaminating our freshwater supplies. This is a complex issue, and one that cannot be solved alone. We must work together, as businesses, communities and individuals to make changes in our lives to stop clean water disappearing for good.
Another challenge is finding likeminded individuals to support your vision. To achieve this, at Planet-U we’ve created a detailed and structured training and induction process and offer fantastic working benefits and reward our employees’ successes accordingly. I want to build a team of successful people who feel valued, empowered and motivated to work hard.
Flying the flag for innovation in the energy sector
Grant, what is your long-term vision and how do you measure & quantify your impact?
Following the success of Planet-U, I’m now expanding the company and developing a sister brand which will simplify the rapidly growing electric vehicle charging market for commercial and private customers alike. Our vision is to not just be the biggest and best-known renewable energy businesses in the UK, but to operate globally as well. It’s only when you become truly big that you can really change things, flying the flag for the innovation and drive in our sector.
I’m also exploring further ventures both within the sustainability sector and further afield. For example, I’ve recently been appointed to the boards of international resourcing consultancy, Hortor, and bespoke home builder, Chesterblair Homes. Ultimately, our impact will be measured by the legacy of our business activities and how they benefit both our customers and wider society. I want to show people that profit is not the enemy of sustainability, rather it is ambitious business goals that will help drive us all forward to a more sustainable future.
Impact and sustainability don’t need to be complicated
What are some misconception you’ve noticed regarding what “impact” is all about?
That sustainable investments must take away from business performance. This is simply not true. With a clear vision and enough drive, anything is possible. At Planet-U Energy, we have shown that innovation and drive can be a powerful force for good as well as profit.
Another misconception is that impact needs to be complicated. In our industry there is a lot of jargon and smoke and mirrors.
Through my brief career as an energy trader, I found myself increasingly frustrated at the status quo within the energy market. I believed we were failing to get across to industry the commercial benefits of renewable energy; that it was not only good for the planet but good for business too. That’s why I left and set up my own energy company.
We offer an honest, no-nonsense approach. We’re straight talking and open in our mission. Our actions speak for themselves and this is the way I believe impactful businesses and individuals should always aim to be.
When I first formed Planet-U, the energy market was ripe for disruption. We saw a gap in the market where we could provide environmentally friendly solutions that also increased our customers’ bottom line. Disruption plays a huge role in changing perceptions of how people see the impact businesses can make by driving positive change while still increasing their bottom line.
