Publish Date: December 20, 2016
Within just a few years, corporate renewable energy procurement has become a widespread trend, no longer limited to a select number of forward-looking companies. This shift brings some challenges, but also opportunities for economic development, resource diversification, and collaboration between utilities, customers, policymakers, and advanced energy developers. Now, a new report documents the extent of this trend and another explores how states can adjust to—and benefit from—the shifting priorities of Corporate America.
In 2016 Corporate Advanced Energy Commitments, AEE reports that 71 Fortune 100 companies have set renewable energy or sustainability targets, up from 60 just two years ago. Among the Fortune 500, commitments have held steady at 43 percent. Of these companies, 22 have committed to powering all of their operations with renewable energy.
In Private Procurement, Public Benefit: Integrating Corporate Renewable Energy Purchases with Utility Resource Planning, the Center for New Energy Economy at Colorado State University (CNEE) explains that corporate renewable commitments present several challenges—but also several opportunities for state energy markets. To date, states have had mixed success at navigating the trade-offs. By incorporating corporate renewable energy targets into their utility resource planning process, the paper argues, states can resolve the challenges and realize potential benefits.
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