Leading firms, including Disney, Facebook, Google, Johnson & Johnson, Salesforce and Walmart, have launched a trade organisation that will help companies benefit from new ways to purchase clean energy. Over the past six years, firms including Alphabet, General Motors and Walmart have purchased blocks of energy from power plant owners and utilities, thereby underwriting the construction of new renewables projects. The US has been one of the world’s biggest markets for renewable energy, but it is now facing an unprecedented challenge as states across the country are moving towards policies aimed at reducing carbon emissions.
Leading firms, including Disney, Facebook, Google, Johnson & Johnson, Salesforce and Walmart, have launched a trade organisation that will help companies benefit from new ways to purchase clean energy. Over the past six years, firms including Alphabet, General Motors and Walmart have purchased blocks of energy from power plant owners and utilities, thereby underwriting the construction of new renewables projects. The Renewable Energy Buyers Alliance aims to expand the market from the 16 gigawatts of new renewable capacity supported by such deals in the US last year to 60 gigawatts by 2025.