More than any other country, the United States has a growing portion of new renewable energy projects being built to meet demand coming directly from corporations. Agreements by which corporations contract electricity from renewable power producers are expected to be responsible for 44 to 72 gigawatts of wind and solar additions in the country during the next 10 years, according to a new analysis by IHS Markit.
The report, titled Corporate U.S. Renewable Procurement Outlook: Optimism Amid a Pessimistic Year, says these corporate-driven power-purchasing agreements (PPAs) would represent about 20 percent of all utility-scale renewable power additions for the period — an average of 4.4 gigawatts to 7.2 gigawatts per year depending on the extent to which corporations expand and fulfill their renewable ambitions.
“We have now reached a tipping point for corporate sector demand for renewables,” said Anna Shpitsberg, director, global power and renewables, at IH