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How Businesses are Driving Renewable Energy Growth

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Renewable energy is no longer a niche market – it’s fundamentally changing the national energy landscape. 

Three main forces have set the stage for renewable energy growth, and a major share of success can be directly attributed to businesses proactively setting and publicly committing to aggressive renewable energy and sustainability targets.

We recently raised the topic with Direct Energy Business President John Schultz. Watch below to hear his insights. 


“We are seeing increased [renewable energy] interest and transactions in corporate space,” says Schultz.  

Increased interest in renewable energy among corporate buyers directly aligns with a number of major national and international indicators. 

To date, more than half of all Fortune 500 companies have publicly committed to some type of emissions or renewable energy target. Additionally, 1,700 U.S. companies are now reporting on their energy consumption through the United States Environmental Protection Agency ‘s (EPA) Green Power Partnership, which requires partner organizations to power some or all of their annual electricity consumption with renewable energy. Globally, more than 200 of the world’s most influential companies have also pledged to 100 percent renewable energy as part of the ever-growing RE100 initiative.

“This is no longer a niche market – this is a major trend in where we see corporate buyers going,” Schultz explains.  

While the trend lines with renewable energy are clear, Schultz cautions there is still plenty of untapped potential in the commercial and industrial sector. 

“If you look at the top 1,000 companies in the U.S., they represent about half of commercial and industrial energy consumption, and only five percent of that is coming from renewable energy,” Schultz notes.  

Helping commercial and industrial customers procure more green power will increasingly require close collaboration with energy providers. Businesses expect energy providers to help them meet their renewable energy and sustainability goals. And rightfully so: energy providers are uniquely positioned to help large businesses boost their facility sustainability with a number of different renewable options, ranging from renewable energy credits (RECs) and green power purchase agreements to commercial solar power and other customized solutions.

For our part, Direct Energy Business stands ready to help your business craft its renewable energy strategy.

Stay tuned to the Direct Energy Business Blog as we unpack more industry trends to watch for in 2020. Can't wait for more? Learn about the three forces that drove renewable energy growth in 2019.

Posted: February 07, 2020