Major US Companies: Unmet Renewable Energy Demand Requires Market Shift

Washington DC: Seeking to increase availability of cost-competitive renewable energy to run their businesses, 12 leading companies today signed the Renewable Energy Buyers’ Principles to better communicate their purchasing needs and expectations to the marketplace.

The companies – Bloomberg, Facebook, General Motors, Hewlett-Packard, Intel, Johnson & Johnson, Mars, Novelis, Procter and Gamble, REI, Sprint, and Walmart – are hoping the principles will open up new opportunities for collaboration with utilities and energy suppliers to increase their ability to buy renewable energy.

With a combined renewable energy target of 8.4 million megawatt hours (MWh) per year through 2020, the 12 participating companies are seeking a market shift to achieve their sustainable energy goals.

Large-scale buyers often have to work around traditional utilities to purchase renewables at competitive prices at the scale they need, increasing complexity and transaction costs. WWF-US and the World Resources Institute (WRI) recognized the need for clearer guidelines and convened leading companies to create the Buyers’ Principles.

“These companies are leading the market in creating demand for renewable energy. The Buyers’ Principles provide sound guidance to the market providers,” said Suzanne Apple, senior vice president for private sector engagement for WWF. “Some of America’s largest companies are embracing renewable energy, and their collective demand requires the market to keep pace.”

For the entire release from the WWF

Photo Source: With a combined renewable energy target of 8.4 million megawatt hours (MWh) per year through 2020, the 12 participating companies are seeking a market shift to achieve their sustainable energy goals.
© WWF-Canon / Chris Martin BAHR20140723-101350-36830231.jpg

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