Growing number of businesses turning to renewables: BNEF

More companies investing in renewable energy

by James Martin II on September 26, 2012

The number of businesses taking a serious interest in renewable energy is increasing, according to Bloomberg New Energy Finance’s (BNEF) 2012 Corporate Renewable Energy Index (CREX). The CREX is a ranking of over 300 global corporations who have procured a portion or all of their power from renewable sources.

The report notes that more companies than ever have made the decision to source  100% of their power from renewables, breaking away from the more prevalent tendency to make only nominal or mandatory renewable investments. Also highlighted is the fact that the gap between those who are serious about their interest vs those who pay lip service is becoming increasingly pronounced. Nearly 1/3 of the companies listed said they were powered by less than 5% renewable energy, while 35 of the companies in the index got all of their power from some combination of hydro-electric power, wind, solar, and other renewables.

Another noteworthy trend was the growing number of companies–especially ones whose activities are energy-intensive, such as aluminium smelters and paper producers–who are dispatching renewables on-site to reduce power costs and environmental impacts. The most popular generation type for on-site use was hydro (47% of all on-site generation), followed up by wind (29%), and biomass/waste-to-energy (23%).

Solar power in all forms, including solar photovoltaics (PV) or rooftop solar, was only a tiny portion of all renewable generation among CREX companies (at <1%), but the report notes that this is expected to grow into the future as the price of the technology continues to fall rapidly. Global corporations like Apple have already begun to deem it appropriate to invest in large-scale solar farms–the company has just built a 20 megawatt (MW) plant to reduce the environmental impact of one of its massive data centres in North Carolina in the US.

The reasons driving companies to invest in renewables are a mix of government-mandated obligations, cost-cutting measures, and self-imposed corporate social responsibility imperatives and the desire to be seen as ‘green’ or environmentally friendly. The report nevertheless emphasises the importance of government support and clear directives to give certainty to renewable energy investments. ”[T]here are CREX companies in all the key countries calling for an expansion in regulatory support for renewable energy, through mechanisms such as liberalising power markets, supporting incentive schemes or taxes on carbon dioxide emissions…. Therefore governments and policymakers have an important role to play in the growth of this market,” it said.

© 2012 Solar Selections Ltd

The ability to decide their problems are no transmitted by mail, and sell them as possible but no levitra coupons are the daydream of many boys who have decided on a strange act levitra coupon are online and fully accessible.

Leave a Comment

Previous post:

Next post: