According to the report Corporate Renewable Energy Procurement: A Snapshot of Key Trends Strategies and Practices in 2016 that surveyed companies across 9 industry sectors with combined revenue exceeding $1 trillion, most are buying renewable energy and many have a 100 percent renewable energy goal. Currently, their renewable energy is from renewable energy credits (RECs) and power purchase agreements; but, they are looking to drive new projects to maximize environmental and local benefits. They are motivated by greenhouse gas emissions targets, reducing costs of energy procurement, and demonstrating corporate leadership. They include IT, manufacturing, consumer products, health care, retail and other services.
Seeking greater access to renewable energy, a growing number of large corporations have signed Corporate Renewable Energy Buyers’ Principles. It brings together corporate energy buyers with utilities to advance solutions to deploy more renewable energy. In a proactive move to attract and collaborate with these large businesses that might consider expanding to the Madison area if it can accommodate their buying most or all of their energy from renewable sources, MGE filed a Renewable Energy Rider framework tariff with the Public Service Commission (PSC) in May. If approved, it would allow MGE to offer key attributes corporate buyers are seeking, including to have greater control over the energy they procure and fast contracting timelines (by speeding up the PSC approval process for each contract). A ruling on the tariff is expected by December.