Big Business And The World’s New Energy Boom
Bloomberg: Global renewable energy boom driven by business community; Global investment in low-carbon energy is set to hit $2.6trn by the end of this year, with large corporates driving this trend, new analysis from Bloomberg has concluded.
Sarah George, 10 September 2019 (edie)
“…The $2.6trn (£2.1trn) accounts for all money invested in new renewable energy arrays; expanding and updating existing facilities; procuring power; improving infrastructure and in research and development since 2010…[T]he majority of this investment has been funnelled into wind and solar power, with global solar generation capacity having increased more than 2,500% during the past decade, from 25GW in January 2010, to 633GW anticipated by January 2020…[It was part of] 2.4TW net increase in global clean power generation capacity since 2010…
[A] key driver of this investment has been the business community, with privately and publicly owned firms having collectively signed up to purchase 8.6GW of clean energy between January and July 2019 – up from 7.2GW in the same period the year prior…[5.95GW] of this energy was procured in North America…[J]ust 1GW of these deals were signed via green tariffs from regulated utilities…[leaving uncertainty that the] 2.6GW of renewable deals sealed in this way in the US will be met in 2019…Companies are instead favoring the virtual power purchase agreements (PPA) model, which has made up 82% of all US deals in 2019…[Globally, corporates] are well on track to surpass their 2018 renewables sourcing record of 13.4GW this year…[The drivers are growing policy, consumer and investor demand] for businesses to decarbonize….[and] the falling costs of wind, solar and battery technology…” click here for more