BNEF: Corporations signed contracts for 8.6 GW of clean energy in 2019

By Michelle Froese, Windpower Engineering

U.S. corporations bought 5.95 GW of clean energy in 2019, closing in on the 2018 total, according to BloombergNEF’s (BNEF) recently published, 2H 2019 Corporate Energy Market Outlook. The report shows that companies are once again flocking to Texas – historically the largest corporate procurement market in the country – where 40% of the activity in 2019 has occurred. However, just 1 GW of deals in the U.S. have come from green tariffs with regulated utilities. It is unlikely to reach the 2.6 GW seen in all of 2018.

This may be a result of buyer apprehension, as several companies have been involved in highly publicized legal battles with regulated utilities over clean energy buying. Companies are instead favoring the virtual PPA model, which has made up 82% of all U.S. deals in 2019. Read more here.

Resources for Businesses


RE100:
191 RE100 companies have made a commitment to go ‘100% renewable’. Read about the actions they are taking and why.

Renewable Energy Buyers Alliance (REBA)
In 2018, four leading NGOS — Rocky Mountain InstituteWorld Wildlife FundWorld Resources Institute, and Business for Social Responsibility — merged their renewable energy programs, the Business Renewables Center, the Future of Internet Power, the Buyers Principles, and Green Tariff programs. This programmatic consolidation builds upon their collective success and offers a single streamlined solution.

REBA’s goal is to catalyze 60 gigawatts (GW) of new renewable energy by 2025, and expand the number of organizations buying clean power from dozens today to tens of thousands.

 

U.S. Renewable Energy Map: A Guide for Corporate Buyers,
World Resources Institute

 

Save the Date!
September 12, 2019 at 7 pm – Nebraskans for Solar’s September Speaker: David Bracht, Attorney With Kutak Rock and Former Nebraska Energy Office Director, UNO’s Barbara Weitz Community Engagement Center, Rooms 201 & 205. Mr. Bracht will provide an overview of Nebraska’s wind and solar development and our state’s potential for future growth.

Specific topics will include:

  • power purchase agreements
  • virtual power purchase agreements
  • commercial and industrial use of solar
  • the potential for combined solar and battery installations
  • incentives and depreciation

GreenBiz Webcasts