Some of the top technology firms, consumer companies and manufacturers of the United States will be coming together to produce a boom when it comes to the purchases of renewable energy all over corporate America.
On Thursday, the giants in the corporate sector as well as their nonprofit collaborators launched the trade organization called Alliance of Buyers of Renewable Energy. This organization will assist companies in taking advantage of brand new ways of purchasing clean energy. Their goal is providing support in the construction of fresh projects of green power, for which they will strike deals of renewable energy. In recent times, the move has been pioneered by firms such as Walmart, General Motors and Google’s parent company Alphabet, General Motors and Walmart.
Michael Terrell, who heads the strategy of energy markets at Google, has said that it is essentially about gathering the maximum possible number of players in the market and thereby, providing everybody with clean energy.
In the last 6 years, a few of corporate big shots have framed new ways to meet their goals regarding sustainable energy. In the process of making deals for buying energy blocks from power plant holders and utilities, they have underwritten the creation of new solar farms, wind towers as well as other renewable energy projects. These pioneers fall under REBA and are aiming to empower a large number of organizations to purchase renewable energy in the near future, thereby elevating the current market figures of nearly 5,000 companies.
Last year, firms signed an ample amount of corporate renewable pacts to support a capacity of fresh renewable energy of roughly 16 gigawatts in the United States. REBA is looking at accelerating this activity and growing the market value to nearly 60 gigawatts, come 2025. This indicates a huge quantity of renewable power and is roughly equivalent to the power capacity of all solar photovoltaic cells available in 2018 in the U.S.