Energy Procurement, Commercial, Sourcing Renewables - February 4, 2019
Facebook, Google, Amazon lead RE procurements
Tech giants Facebook, Google, and Amazon are leading the charge for corporate procurement of renewables within the U.S., combining for market share of just over a third (35.1%). After announcing 1.5 GW of procurement in 2018, Facebook is the largest offtaker of front-of-the-meter wind and solar in the U.S. with 1.5GW of procurement; Google ranks second at only 58MW behind Facebook, with Amazon rounding out the top three.
A new research report by Wood Mackenzie Power & Renewables, ‘Corporate Procurement of Wind and Solar 2018’, revealed that technology and data companies remain the largest segment of C&I offtakers. “2018 was a banner year for corporate procurement of renewables, said Colin Smith, senior analyst. "C&I procurement drove a combined 22% of solar and wind PPAs signed in 2018 and solidified its place as a major driver of renewables in the U.S. This is a significant development within the industry. C&I has always been a major driver of wind projects, but it is now a major driver of solar projects too.”
The report noted that C&I firms are contracting from increasingly larger projects to meet growing demand, a trend that is expected to continue. “With so many companies pledging carbon reduction targets or signing the RE100 pledge to achieve 100% renewable electricity sourcing, peer pressure is growing among companies to be the most sustainable within their sector, said Smith. "However, as additional corporations pledge to procure 100% renewables, the leading share could shift from the data and technology segment to the industrial segment.”
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