Corporations couldn’t be any clearer: They want cheap renewable energy.
Companies and government agencies last year signed contracts to buy 13.4 gigawatts of clean power, comparable to Nevada’s total generating capacity. That easily shattered the prior record of 6.1 gigawatts that was set in 2017, according to a report Monday by BloombergNEF.
The contracts still account for just a fraction of the total electricity corporations use. Even a group of companies that has pledged to ultimately get 100 percent of their power from renewables still relies on other resources for about two-thirds of its demand.
The tech giants of the world stand out as leaders in the space: Facebook Inc. alone accounted for more than 2.6 gigawatts of clean-energy deals last year, vaulting it over Alphabet Inc.’s Google, the longtime leader as the world’s biggest corporate buyer.