BRC Newsletter Jan 2016
2015 was a record-setting year for corporate renewables and the BRC, and we’re just as excited to see what the first months of 2016 bring.
First and foremost, welcome to our new BRC Members who have joined since the September 2015 newsletter! We’ve grown from 28 founding members just under one year ago to 76 members today.
New corporate members include American Honda Motor Company, Avery Dennison, Corning, EMC Corporation, Etsy, FedEx, Hewlett Packard Enterprise, Ingersoll Rand, Marriott, Microsoft, and others.
New sponsors include Bank of America Merrill Lynch, Commodity Risk Solution, Community Energy, Duke Energy Renewables, Lincoln Clean Energy, ReneSola, Renewable Energy Systems Americas, Schneider Electric, SoCore Energy, Sol Systems, SunPower Corporation, and WSP Group.
|SAVE THE DATE
Save the date for the Corporate Renewables Partnership May conference!
Hosted by BRC, BSR, WRI, and WWF, the event will be held May 19–20 at the Microsoft campus in Redmond, WA. The event is by invitation only. If you are interested in sponsoring or learning more, contact principal Lily Donge (firstname.lastname@example.org).
After signing a record 1.2 GW of utility-scale wind and solar power in 2014, corporations have smashed that record for 2015. In 2015, corporations signed an impressive 3.44 GW of deals for large-scale, off-site renewable energy, according to the BRC’s tracking of publicly announced deals. The BRC and its members—corporate buyers, advisors, and sponsors—are at the heart of this major market shift that is increasingly putting corporations in the renewable energy driver’s seat. Last year, BRC-affiliated companies were part of 85% of corporate deals and 86% of contracted MW. Congratulations on your collective market leadership!
Between COP21 in Paris and the U.S. PTC/ITC extension at the end of 2015, there were also major developments on the policy front. Read more on our blog to find out about what they mean for corporate renewables:
- ITC/PTC extension and implications for corporate renewables
- What does COP 21 mean for corporate renewables in the U.S.?
Celebrating Recent Deals
Congratulations to our members and sponsors (in bold) on their latest announcements:
- Equinix’s combined 225 MW wind PPAs with NextEra and Invenergy in Oklahoma and Texas, respectively
- Bloomberg LP’s 20 MW wind PPA in New York with EDP Renewables
- Owens Corning’s combined 250 MW with Invenergy and others
- GM’s 30 MW wind PPA in Texas with EDP Renewables
- Corning’s 50 MW solar PPA in North Carolina with Duke Energy Renewables through CustomerFirst Renewables
- Salesforce’s 40 MW wind PPA in West Virginia through Renewable Choice Energy
- Google’s combined 842 MW of wind and solar in locations including North Carolina, Oklahoma, Sweden, and Chile with Duke Energy, Invenergy, EDF Renewable Energy, and RES Americas.
November Workshop Recap
On November 17th, more than 160 attendees—many of them from the Fortune 500—came together at Bloomberg LP’s New York City office for the Business Renewables Center’s latest semiannual meeting. Over the course of the day-long event, several major themes came to the forefront. Despite the remarkable development in the market, the conference remained focused on the obstacles still laying ahead against future growth. Starting from a list of 25 potential obstacles, conference participants identified the following as the most important to take care of in the next 6–12 months:
- Lack of clear guidelines / common practices to allocate risks between buyers and sellers
- Lack of market transparency in terms of project availability and economics
- Lack of information on the potential impact of the EPA Clean Power Plan
- Lack of information of opportunities that storage technology can create
- Lack of information on opportunities beyond the U.S. in particular in China
BRC Marketplace Launches
The BRC Marketplace, a new online platform where buyers can identify available renewable energy projects, launched on November 17, 2015. We now have 16 projects online, with more being added to the database. If you are:
- A corporate buyer: With a gold membership, you can use the Marketplace to identify new projects for your next PPA. With a silver membership, you do not have access to new projects, but you can still test the functionality of the platform with past projects already contracted.
- A project developer: You can post your projects on the Marketplace for corporate buyers to see.
- An intermediary: You can have access to projects posted by project developers, contingent on project developers giving you the access. Make sure you are in the list they need to check.
We welcome feedback as we continue to develop and improve the system. To access the BRC Marketplace, please visit marketplace.businessrenewables.org (member-only login required).
What’s Next for the BRC
The BRC now looks at the months ahead with a new and refined work plan designed to continue accelerating the market toward 60 GW of new renewable energy capacity in the U.S. At the BRC November event, we identified and prioritized the following two initiatives:
- Risk allocation and contract standardization: We will develop a primer on risk allocation and common contract terms; members are welcome to assist by joining a task force, and should be on the lookout for an anonymous survey to collect information on risks. We will also develop advanced ideas for situations in which neither the seller or buyer would bear one particular risk, such as bringing in a third party solution.
- BRC Marketplace: Continued development will allow corporate buyers to input your preferences into the system. All members are welcome to join a Marketplace Task Force to identify a way to integrate intermediaries and add additional useful functions to the software.
If you are interested in participating in either product, contact us at email@example.com.
Upcoming BRC Webinars
- January: RE100-RMI Webinar: China’s Renewable Energy Policy and Market. Thursday 28 January at 10:30 am EST. Click here to join WebEx meeting.
- February: Batteries and Storage, hosted by RMI’s storage experts – Date TBD
- March: Peer-to-Peer Buyers Fireside Chat, hosted by Altenex – Date TBD
- April: Bloomberg New Energy Finance Market Outlook, hosted by Ethan Zindler – Date TBD
This BRC newsletter is intended to provide factual information and is based on publicly available information, but no representation is made with respect to its accuracy or completeness. None of the information can be construed as investment or accounting advice. RMI reserves the right to include, change, or edit any content.