RE100 Companies Closing In On Renewable Energy Targets

On average, companies participating in the RE100 initiative are at the halfway mark of meeting their 100% renewables-sourced electricity goals.

RE100 is a collaborative initiative involving dozens of major companies that have committed to 100% renewable electricity. Aside from the direct positive environmental impact, the initiative helps set an example to other companies large and small to follow suit.

Among the big names participating are Adobe, Goldman Sachs, Google, IKEA Group, Johnson & Johnson, Philips, Procter & Gamble and Walmart. Companies to have recently joined RE100 include BMW Group, Coca-Cola Enterprises.

To date, 53 companies have joined the program; which combined represent 1% of electricity used by industry globally.

The latest RE100 report published by The Climate Group and CDP is based on the  latest available data (2014) from 45 companies. It indicates that retail sector members have sourced the largest amount of electricity from renewables (10,764,000 MWh in 2014), while ICT (Information and Communications Technology) sector companies are on average 64% of the way towards the 100% renewables goal.

RE100 forecasts that the current group of 53 RE100 companies will reach an average of 80% renewable electricity by 2020.

“When all 53 RE100 companies are 100% powered by renewables, they’d create enough renewable electricity demand to power Hong Kong and Singapore combined – today’s report shows they are well on their way,” says Emily Farnworth, RE100 Campaign Director.

Renewable electricity consumption

Ms. Farworth states the companies finding it easier to reach their targets are those operating in the US or Europe and with smaller electricity requirements.

A few companies have already hit the 100% mark. These include Biogen, which has been fully powered by renewable electricity since 2014 through purchasing of RECs in the US and Guarantees of Origin in Denmark.

Germany’s Commerzbank is also a 100%’er; as is KPN (Netherlands), SAP (Germany), Steelcase (USA), Swiss Post (Switzerland) and Voya Financial (US).

Microsoft is another heavy-hitter on the 100% list; having sourced its renewables from wind power purchase agreements, solar panels at its Silicon Valley campus plus RECs (renewable energy certificates) for the remainder of power consumed.

Given the age of the data the report was based on; more RE100 companies may have already met their targets.

“This report shows us that business corporations around the world are stepping up in making commitments to renewable energy and working with RE100 to drive forward a global market for renewable energy,” said Roberto Zanchi, Technical Manager, Renewable Energy at CDP.

The RE100 Annual Report 2016 can be downloaded here (PDF).

Businesses generally are increasingly turning to renewables such as solar power – and not just for the environmental street cred. Commercial scale solar simply makes good financial sense in many cases; generating electricity that costs less than mains grid supplied power while retaining the security of a grid connection.

Commercial solar power has also become more accessible in recent years. For example, companies in Australia can make the switch without capital outlay in some instances; through financing options such as solar PPA‘s (Power Purchase Agreements) and solar leases.

Get a quick solar quote, or contact us today toll free on 1800 EMATTERS or email our friendly team for expert, obligation-free advice!

Other Energy Matters news services: