More and more U.S. businesses are choosing to significantly increase their procurement of cost-effective renewable energy through the installation of onsite solar photovoltaic systems and the purchase of contracts to buy or invest in offsite renewable energy.
According to a recent report by the World Wildlife Fund (WWF), over 60% of the largest U.S. businesses have set public goals to increase their use of renewable energy. Large corporates are setting these public goals because using renewable energy is becoming a core element of their business & sustainability strategies, and just as importantly, renewable energy is increasingly a more cost-effective option from a procurement stand point. It is no longer just the environmentally-conscious companies that are looking to benefit from renewably-generated electricity.
In July 2014, twelve leading U.S. corporations joined forces and collectively created the Renewable Energy Buyers’ Principles in an effort to broaden their ability to procure renewable energy. The twelve founding companies are Bloomberg, Facebook, General Motors, Hewlett-Packard, Intel, Johnson & Johnson, Mars, Novelis, Procter and Gamble, REI, Sprint, and Walmart. The Principles emerged from discussions between the participants convened by the WWF and the World Resources Institute.
According to the Principles’ authors, “we know renewable energy can already achieve cost parity, or better, compared with traditional energy” and furthermore “a significant part of the value to us from renewable energy is the ability to lock in energy price certainty and avoid fuel price volatility”.
This message resonates strongly here at EnterSolar, where our mission is to provide corporate clients with cost-effective solar electricity solutions.