Quantcast

Business Renewables Center Makes It Easier to Invest in Clean Energy

Business

Nearly two-thirds of Fortune 100 and nearly half of Fortune 500 companies have commitments to shift to renewables. Now these companies are seeking the best way to source renewable energy and have the potential to significantly grow the renewable energy market. Corporations can be a powerful lever for expanding renewable energy in the U.S. 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.

The collaborative effort of the BRC will make it easier for corporations to enter the renewables market.

Major corporations such as Google, Apple, Microsoft and Walmart have made major strides in purchasing renewable energy. This group of trailblazers has purchased more than 1 GW of renewable power in the past year. However, we also know that for every deal that succeeds, there have also been a number of deals left on the cutting room floor that have not made it through due to the high transaction cost and complexity of large-scale renewables transactions. That’s why today Rocky Mountain Institute publicly announced the launch of the Business Renewables Center (BRC).

Born of early industry engagements, validated by a Bloomberg New Energy Finance FiRE award, further informed by an NGO corporate renewable energy partnership, and ultimately guided by its membership that includes corporate renewable energy buyers, renewable energy project developers and transaction service providers, the BRC will remove the main obstacles preventing corporations from building renewables into their energy profiles. We believe we can add another 60 GW of wind and solar capacity to the grid by 2035, even possibly 2025, which will nearly double installed U.S. capacity.

Totaling more than USD 430 billion in revenue and more than 24 TWh in electricity consumption per year, the BRC founding corporate buyers include Becton, Dickinson, and Co., Bloomberg, eBay, GM, HP, Kaiser Permanente, Nestle Waters North America, Owens Corning, Salesforce.com, Sprint and VF Corporation.

“The collaborative effort of the BRC will make it easier for corporations to enter the renewables market. Instead of having hundreds of corporations reinvent the wheel, each member can get immediate access to the cumulative knowledge and wisdom of the industry. Each problem only needs to get solved once,” says Rob Threlkeld, manager of renewable energy at GM.

The BRC founding project developers include Apex Clean Energy, E.ON-Climate and Renewables North America, FirstSolar, Invenergy, NextEra Energy Resources, NRG Energy, OneEnergy Renewables, OwnEnergy and SunEdison.

“The BRC brings us closer to corporate buyers and helps us better understand their needs. It allows us to focus our time on where we, as developers add the most value—building new projects that supply renewable energy,” says John DiDonato, vice president of wind development at NextEra Energy Resources.

The BRC founding transaction service providers include Altenex, Climate Friendly, Customer First Renewables, Origin Climate, Renewable Choice Energy, Renewable Power Direct and Wilson Sonsini Goodrich & Rosati.

“The next decade will be a watershed for U.S. renewables. The establishment of the BRC is a testament to explosive industry growth and to the increasing appetite of corporations for easily adoptable, clean power solutions. Through collaborative efforts, the BRC is an exciting resource for everyone in the industry and for our clients,” says Quayle Hodek, CEO of Renewable Choice Energy.

YOU MIGHT ALSO LIKE

Robert Redford: Fossil Fuels Need to Stay in the Ground, Renewable Energy Is the Future

Parents, Teachers and Students Ask School Districts to Go 100% Renewable Energy

Bloomberg Philanthropies Launches $48M Initiative to Cut Carbon and Spur Investments in Renewables

EcoWatch Daily Newsletter

Passengers trying to reach Berlin's Tegel Airport on Sunday were hit with delays after police blocked roads and enacted tighter security controls in response to a climate protest.

Read More Show Less
A military police officer in Charlotte, North Carolina, pets Rosco, a post-traumatic stress disorder companion animal certified to accompany him, on Jan. 11, 2014. North Carolina National Guard

For 21 years, Doug Distaso served his country in the United States Air Force.

He commanded joint aviation, maintenance, and support personnel globally and served as a primary legislative affairs lead for two U.S. Special Operations Command leaders.

But after an Air Force plane accident left him with a traumatic brain injury, post-traumatic stress disorder (PTSD), and chronic pain, Distaso was placed on more than a dozen prescription medications by doctors at the U.S. Department of Veterans Affairs (VA).

Read More Show Less
Sponsored
(L) Selma Three Stone Engagement Ring. (R) The Greener Diamond Farm Project. MiaDonna

By Bailey Hopp

If you had to choose a diamond for your engagement ring from below or above the ground, which would you pick … and why would you pick it? This is the main question consumers are facing when picking out their diamond engagement ring today. With a dramatic increase in demand for conflict-free lab-grown diamonds, the diamond industry is shifting right before our eyes.

Read More Show Less
Preliminary tests of the bubble barrier have shown it to be capable of ushering 80 percent of the canal's plastic waste to its banks. The Great Bubble Barrier / YouTube screenshot

The scourge of plastic waste that washes up on once-pristine beaches and finds its way into the middle of the ocean often starts on land, is dumped in rivers and canals, and gets carried out to sea. At the current rate, marine plastic is predicted to outweigh all the fish in the seas by 2050, according to Silicon Canals.

Read More Show Less
Man stands on stage at Fort Leonard Wood in the U.S. Brett Sayles / Pexels

Wilson "Woody" Powell served in the Air Force during the Korean war. But in the decades since, he's become staunchly anti-war.

Read More Show Less
Sponsored
Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez at a rally in Council Bluffs, Iowa on Nov. 8. Matt Johnson / CC BY 2.0

By Julia Conley

Joined by Rep. Alexandria Ocasio-Cortez Friday night, Sen. Bernie Sanders held the largest rally of any 2020 Democratic presidential candidate to date in Iowa, drawing more than 2,400 people to Iowa Western Community College in Council Bluffs.

Read More Show Less

Scientists have developed an innovative way to protect endangered rhinos from poaching: flood the market for rhino horn with a cheap, fake alternative.

Read More Show Less
With fires burning across the country, Australian officials say the situation is "unchartered territory." CBC News / YouTube screenshot

More than 130 wildfires were burning on Australia's East Coast Sunday, The Guardian reported. The blazes have killed three and destroyed at least 150 structures so far, and conditions are expected to worsen Tuesday, when the greater Sydney area will face "catastrophic fire danger" for the first time.

Read More Show Less