Demand for renewable energy coming from businesses

According to recent information, businesses, not politicians are driving the migration toward renewable energy generation. Many U.S. companies are dominating corporate procurement of clean energy this year even as global demand rises, and the record pace accelerated with two new and very different types of American firms announcing renewable power purchase agreements (PPA) totaling 160 MW this week.

Electricity and greenhouse gas emissions

"In 2017, electricity accounted for more than half our greenhouse gas emissions,” Julia Sabin, vice president of government relations and corporate sustainability for the J.M. Smucker Co., said in a statement. “This agreement will not only reduce our carbon footprint but will also allow us to make a lasting contribution to our nation's renewable energy capacity."

J.M. Smucker and Novartis are only two in a quickening array of U.S. companies taking clean energy matters into their own hands this year. A new report by Bloomberg New Energy Finance (NEF) noted American firms have accounted for 4.2 GW, or 60 percent, of global corporate clean energy procurements so far in 2018, already setting a record over 2017’s previous benchmark pace.

Clean energy trend for businesses

Overall, the Bloomberg NEF 2H Corporate Energy Market Outlook reported that corporations globally have acquired 7.2 GW of clean energy thus far this year, more than a fifth higher than the 5.4 GW totaled in 2017. Facebook has been the largest corporate buyer of clean energy with more than 1.1 GW signed up, while AT&T is second with 820 MW, according to Bloomberg NEF.

Current U.S. political leadership nationally is balking at the rush to renewables and seeking protection for baseload generation sources such as coal and nuclear.  However, the biggest of U.S. companies are advocating for grid resiliency to nurture long-distance clean energy projects. The most progressive companies understand that installing a solar energy system makes environmental and financial sense.

The companies included Cargill, General Mills, Nestle, P&G, and Unilever. They are among more than half of Fortune 100 firms-including Apple and others-which have set targets for getting half or up to all of their energy needs from renewable sources over the next few decades.

The United States encourages renewables

“In the U.S. and around the world, corporate commitments to procure renewable energy are a growing trend, driven mainly by recent sharp declines in cost, and by the price certainty that long-term renewable energy power purchase agreements offer,” the corporate letter to FERC reads. “U.S. corporations have purchased over 10 GW of renewable energy from offsite projects to date and have set a goal to purchase an additional 50 GW by 2025.”

There has never been a better time to install a solar energy system!

If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. See how much a system will save you over the next 20 years. 

For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.