Renewable Energy Market Driven by Multiplying Corporate Deals for Electricity

Published By : 18 Sep 2017 | Published By : QYRESEARCH

While it wouldn’t be too incorrect to credit the recent advancements in the equipment, such as taller wind turbines and smart power grids, for the prosperity of renewable energy market, one must also acknowledge the traction corporate world has provided to overcome the dependency on fossil fuel. The awareness regarding greenhouse gas emission and the threat of global warming has been very well received by corporate companies in the U.S, who are willing to invest large sums to ensure availability of electricity for their firm over the next decade by renewable means.

Since 2008, when renewable energy was first truly commercialized, with the likes of Apple Inc., Alphabet Inc., and Facebook Inc. adopting PPA’s to power their humongous data centers, the number of these deals has multiplied in the past decade, and the numbers are now touching mountainous marks. On September 13, 2017, Anheuser-Busch InBev NV and Enel SpA finished a deal, which will see Oklahoma wind-farm-company generate enough renewable energy for the brewer to produce 20 billion beers a year.

Electricity at a Predefined Rate Luring Corporate Investors

Power contributes to a large chunk of costs for many enterprises. For instance, Alphabet consumes 5.7 million megawatt hours a year, whereas Anheuser-Busch InBev NV requires 14.6 million megawatt hours. These two companies have committed to cent percent renewables. The next target for the dealmakers could be an auto manufacturer or a hotel chain, who are always looking for guaranteed rate of electricity. In the Silicon Valley, spot day-ahead electricity prices have fluctuated from US$20 per MWh to US$130 per MWh in the past decade.

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