Energy

Amazon leads the list of large energy buyers in the renewable energy sector in 2020

According to a report based on Renewable Energy Buyers Alliance (REBA) tracking system, the Deal Tracker Top 10, Jeff Bezos’s Amazon is the leading investor in renewable energy in 2021.The Deal tracker Top 10 grades companies who buy renewable energy as a way of showcasing how big companies are investing in clean energy. Amazon procured approximately 3.163 gigawatts of renewable energy. This is about 34% of the total energy contracted by top US-based utility-scale companies. In 2020, large energy buyers procured a total of 10.6 gigawatts of renewable energy. This further indicates how committed companies are towards climate change and reducing carbon emissions.

According to Miranda Ballentine, REBA’s CEO, they have seen large companies have invested in renewable energy despite the uncertainties caused by the Covid-19 pandemic. “Large energy buyers have led the market since the inception of renewable energy in 2008. It is remarkable that the business community announced nearly 100 new deals while managing the impacts of a global pandemic, “she said. “These leaders stepped up to prioritize renewables as a key component of broader organizational energy and climate strategies and, more importantly, recognize the role of the energy industry as the country looks to navigate economic recovery,” she added.

The tracking system, according to REBA, shows how big names in the US economy are influencing climate change and zero-carbon dialogue. The new energy buyers have gone against all odds to partner with local communities, capital investors, industry stakeholders, and other utilities to effect this energy shift initiative. What is left is the federal energy regulations to allow these investors to shape the American zero-carbon future.

Amazon has previously announced that they are investing heavily in wind and solar energy to cut down on carbon emissions from their business operations. According to the company’s vice president on sustainability, Kara Hurst, Amazon plans to use renewable energy exclusively in its operations by 2025. “We’re making big investments in wind and solar energy because it can help to quickly decarbonize our business operations. Amazon is on a path to run on 100 percent renewable energy by 2025, five years ahead of our original target of 2030,” said Hurst.

“We believe all companies have a role to play in protecting the planet. To inspire collaboration, we co-founded The Climate Pledge, with signatories committing to reaching net-zero carbon by 2040, 10 years ahead of the Paris Agreement.”

“We welcome REBA’s steadfast work toward enabling resilient, zero-carbon energy supplies and unlocking renewable energy for all large-scale energy buyers to help them deliver on their commitments,” she added. The information technology (IT) sector is the largest buyer of renewable energy currently. However, industrial and manufacturing companies top the list for new buyers. The use of clean energy in Industrial processes is a big step towards realizing America’s zero-carbon ambitions. The procurements in 2020 included battery storage, which has become a popular way to store renewable energy. Energy storage systems will ensure a continuous supply of energy even when the sources cannot produce power. For instance, during cloudy days and when the winds aren’t blowing.

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