Corporate-Backed Renewable Energy Transactions Reached New Record

Written By: Jen Neville
December 26, 2018

energy procurement

Recently, the Business Renewables Center, a membership program at Rocky Mountain Institute, announced that corporate renewable energy procurement reached a new record in 2018, with 3.57 gigawatts of clean energy projects announced this year to date in the United States. This number exceeds both the 3.12 GW record set in 2015, the highest previous year, and the 2.89 GW contracted for in 2017. Non-utility buyers of renewable energy contract for more than 3.5 gigawatts of new projects in 2018 to date, setting a new single-year record in the U.S. [read more]

The announcement highlights the growth of corporate-backed renewable energy transactions, which have totaled 13.52 GW in the U.S. since 2008, according to data collected by RMI’s Business Renewables Center. To date, BRC member companies have been involved in 99 percent of all U.S.-based nonutility transactions for renewable energy, and the number of corporates contracting directly for clean energy has grown from just four companies in 2013 to nearly 60 companies today.

Facebook was responsible for 2018’s record-tipping deal with its announcement to purchase 437 megawatts of solar energy from Pacific Power for a data center in Oregon. Facebook is one of 140 companies that have pledged to purchase 100 percent renewable energy over the next few decades.

Jon Creyts, managing director at Rocky Mountain Institute, commented, “The Business Renewables Center applauds the acceleration of corporate renewable energy procurement and the dedication these companies are showing to turn commitment into action. We are bearing witness to unprecedented growth in this market, which is critical to achieving the goal of a clean, prosperous, and secure low-carbon economy.”

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The 2nd Annual  Renewable Energy Buyers Summit is an invitation-only event where renewable energy buyers gather with their peers and industry experts in an intimate meeting setting. The Executive Forum will facilitate advanced interactive discussions about renewable energy procurement best practices with their fellow corporate buyers, as well as get valuable insights from leading renewable energy experts.

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