Rocky Mountain Institute (RMI) has announced the launch of the Business Renewables Center (BRC), which aims to add another 60 gigawatts of wind and solar power throughout the USA by 2025.
If the goal is achieved, it will nearly double installed U.S. wind and solar capacity.
The BRC says it will dismantle remaining barriers preventing corporations from integrating renewables into their energy supplies. The BRC says there are a couple of reasons for the somewhat sluggish pace of corporate adoption of off-site renewable energy – companies not being aware of the benefits and the complex nature of transaction.
While major brands including Google, Apple, Microsoft, and Walmart have purchased more than 1 GW of renewable electricity in the past year; for every deal that is successful, a number of others have failed due to high transaction costs and complexity. The BRC estimates 5 – 10 failed attempts for every successful deal.
Instead of companies having to go it alone when exploring the potential of installing or integrating renewables, each BRC member will have access to the combined knowledge and wisdom of the industry. The BRC will help members explore opportunities and provide guidance on strategy, contracts, gaining internal approval and hiring consultants; plus other services.
“Corporations can be a powerful lever for expanding renewable energy in the United States and beyond. They can lock in long-term affordable prices for clean energy that supports the bottom line, reduce their carbon footprint, and fulfill their corporate sustainability commitments,” said RMI Managing Director Hervé Touati.
The collaborative platform launched with 25 founding industry members, including solar giants SunEdison, NextEra Energy Resources and NRG Energy.
Founding buyers include Bloomberg, eBay, and GM. Together, the founding buyers represent USD $430 billion in revenue and more than 24 terawatt hours in electricity consumption.
With close to two-thirds of Fortune 100 and nearly half of Fortune 500 companies having commitments to integrating renewables; the BRC should have a busy time ahead. Rocky Mountain Institute says it will incubate the BRC for its first two years, with view to then transforming it to a member-led, nonprofit organization as soon as it is financially self-sufficient.
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