As the price of clean power continues to fall, large companies are looking to move beyond just purchasing renewable energy certificates in order to reap the benefits of utility-scale renewable projects. Priya Barua explains how green tariffs can help speed the transition.
Large, private sector energy customers wanting to buy more renewable energy are already driving change in electricity markets by scaling up clean power delivered through the grid. More renewables in countries’ power grids will accelerate progress toward emissions-reduction targets put forth in Paris.
If successful, the new international climate agreement forged in Paris will send strong signals to financial markets—and therefore to businesses and investors—about the direction of energy for the foreseeable future.
India has set ambitious renewable energy targets for this year of 175 gigawatts by 2022, an increase of 400 percent over 2014. But even as India looks to add new wind and solar plants, it is working to absorb the renewable power it already generates.
At a time of record low renewable energy power purchase agreements in the U.S.—as projects compete for buyers before federal subsidies expire—corporate buyers could bring real benefits to other energy customers.
Until now, community solar has largely benefited residential and small non-residential customers in a specific community. Yet there are other stakeholders who also want to get into the shared renewable space—large corporate buyers.