Article originally published by Institute for Energy Economics and Financial Analysis
This year is on track to be another record-setter for corporate renewables purchases, and while the U.S. is still the engine driving the market’s growth, China is now on the horizon.
So far in 2019, companies have signed deals for 8.6 gigawatts of clean energy globally, according to the latest numbers from Bloomberg New Energy Finance. That outpaces last year when, at this time, companies had signed agreements for 7.2 gigawatts of wind and solar. Corporations purchased over 13 gigawatts in total last year.
The U.S. made up the majority of last year’s deals, accounting for 8.5 gigawatts of the global total. That trend holds this year, with companies in the U.S. signing up for nearly 6 gigawatts, or 70 percent of deals worldwide…
Of the various types of corporate deals, virtual power purchase agreements remain the default choice for many customers,…