REBA is a new lobby for corporate buyers of clean energy

AMERICA’S PRESIDENT has little interest in fighting climate change. Not so its companies. Last year businesses tapped more than 8.5 gigawatts of clean energy in America, nearly triple the level of 2017, according to BloombergNEF, an energyresearch firm. Although more than 150 big corporations around the world have set targets to buy all their power from renewable sources, America accounts for 63% of corporate purchases of clean gigawatts. On March 28th green-minded companies there transformed the Renewable Energy Buyers Alliance (REBA), a non-profit organisation, into a fully fledged lobby group to further the cause.

REBA now wants corporate purchases of green electricity to ramp up dramatically. In a sign of how broad the clean-power movement has become, its members include big names in technology (Google), carmaking (General Motors), banking (Citigroup), media (Disney) and more. But REBA’s creation also hints that, as firms race to go green, they are running into a number of problems. In the process of collectively solving them, they could reshape power markets.

For companies, clean power often looks like a no-brainer. The costs of electricity from wind and solar farms have plunged by about 70% and 90%, respectively, since 2009. Going green lets companies burnish their environmental credentials with investors, workers...

via Business Feeds

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