If two-thirds of Fortune 100 companies want to buy electricity generated by off-site renewable energy sources this year, why hasn’t more capacity been built?
According to the Colorado-based Rocky Mountain Institute (RMI), the heart of the problem lies with the logistical complexities associated with large-scale renewable energy systems. In turn, large companies often give up on renewable energy and dedicate their time to other projects.
As a result, the Colorado based think-and-do tank has launched a new platform that they hope will remove barriers to renewable energy adoption by large corporations. Dubbed the “Business Renewables Center,” this platform was created with the goal of removing barriers to renewable energy adoption by large corporations in order to bring an additional 60 GW of wind and solar by 2025. If successful, these additions would will nearly double the current total installed U.S. capacity.
“Corporations can be a powerful lever for expanding renewable energy in the United States and beyond. They can lock in long-term affordable prices for clean energy that supports the bottom line, reduce their carbon footprint, and fulfill their corporate sustainability commitments,” said RMI Managing Director Hervé Touati in RMI’s launch of the new Center.
As of its launch on Monday, the BRC platform had enlisted more than 25 founding members, including Bloomberg, eBay, and GM. All told, these member corporations represent over 24 TWh in electricity consumption per year, more than 6 times the amount used in the United States each year.
On the project side, RMI has brought together developers including FirstSolar, NRG Energy, SunEdison, and the E.ON-Climate and Renewables North America group and transaction service providers including Altenex, Renewable Choice Energy, Renewable Power Direct and Wilson Sonsini Goodrich & Rosati.
The Centre marks the second large partnership announcement made by RMI this winter. In December, the think tank announced its partnership with Sir Richard Branson’s Carbon War Room (CWR).
Photo Credit: Photo of wind turbine by the U.S. National Renewable Energy Laboratory (NREL)