Full Title: Policies for Enabling Corporate Sourcing of Renewable Energy Internationally
Author(s): Lori Bird, Jenny Heeter, Eric O’Shaughnessy, Bethany Speer, Christina Volpi, Orrin Cook, Todd Jones, Michael Taylor, Pablo Ralon, & Emily Nilson
Publisher(s): 21st Century Power Partnership
Publication Date: May 1, 2017
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Description (excerpt):
Corporate interest in the use of renewable energy has grown substantially in recent years, with large purchasers having a noticeable impact on renewable energy development in some locations. A variety of global companies headquartered in Europe, Asia, and North America have set targets to achieve 100% renewable energy consumption, while many others have established smaller, but substantial goals. Figure ES-1 shows corporate procurement of off-site renewables, based on data from CDP (formerly the Carbon Disclosure Project). Collectively, corporate buyers have the potential to drive a sizable amount of new renewable energy development through private sector investment in both mature and nascent renewables markets. This is because corporates often want to buy renewables near their facilities and their commitment to purchase power from the renewable energy project means the project can obtain financing from banks. The policy enabling environment is a key factor that will determine where and how corporations procure renewables.