Sustainability Initiatives Driving Entrance to RE Markets
Major companies are investing in renewables in a big way. Facebook, Google, and Amazon are entering renewables procurement to support their sustainability initiatives, capturing 35% of the US market share in 2018. Of this share, Facebook represents the largest share with 1.5 GW of wind and solar procurement, Google follows at 58 MW, then Amazon. With companies committing to reduce carbon emissions and joining RE100, Colin Smith says “peer pressure is growing among companies to” lead sustainability “within their sector.”
Recently, 3M has also joined the RE100 initiative committing to 100% renewable electricity across its facilities globally with a milestone of 50% of their electricity powered by RE by 2025. 3M employs 93,000 people, generating $33 billion in sales. It’s global headquarters in Minnesota, alone, is a sprawling 409-acre campus comprising 30 buildings and research labs.
RE100 now has 166 companies committed to 100% renewable power many of which are leading their industries.
Want to increase your procurement of renewables? Load shaping is one of the first steps in determining your eligibility. THG can help you access the IDR data needed for your assessment, and our gateway device is also industry-leading in flexibility and capability for real-time meter data and market-responsiveness. ContactUs@thgenergy.com for more information.
Read more about these companies’ investments in renewables:
Facebook, Google, Amazon lead RE procurements
3M Joins RE100, Commits to 100% Global Renewable Electricity by Alyssa Danigelis
The RE100 Company List: 166 RE100 companies have made a commitment to go ‘100% renewable.’ Read about the actions they are taking and why.