Renewable energy – increasingly reliable and cost competitive with conventional energy sources – is becoming an ever more crucial part of corporate strategy. More than 40 per cent of Fortune 500 companies and at least 60 per cent of Fortune 100 companies now have targets relating to renewable energy procurement, energy efficiency or cutting greenhouse gas emissions, according to the World Business Council for Sustainable Development (WBCSD). Yet for many businesses, running on renewable power is easier said than done – how easy it is to install, and how much it costs, depends on the resources, size and location of the company. So how can businesses best secure 100 per cent renewable electricity for their operations? Certainly, there are major global corporations such as IKEA with the wherewithal and drive to invest, construct and operate their own renewable power projects with the aim of becoming ‘energy independent’. But not all companies have that option, and must procure their energy from elsewhere. According to the WBCSD, direct procurement of energy from suppliers via Power Purchase Agreements (PPAs) may offer the simplest and most cost-effective answer. It is seeking to encourage more businesses to consider PPAs for renewables, and has commissioned a new guide specifically looking at the challenges involved and the different options available.
Business Green 27th Oct 2016 read more »