Nearly two-thirds of Fortune 100 and nearly half of Fortune 500 companies have commitments to shift to renewables. However, most have not taken action due to the high transaction cost and complexity of large-scale renewables transactions. The BRC will remove the main obstacles preventing corporations from building renewables into their energy profiles.
“Corporations can be a powerful lever for expanding renewable energy in the United States and beyond. They can lock in long-term affordable prices for clean energy that supports the bottom line, reduce their carbon footprint, and fulfill their corporate sustainability commitments,” said RMI Managing Director Hervé Touati.
The BRC launched with more than 25 founding members, including major corporations, renewables project developers and transaction service providers.
Totaling more than USD 430 billion in revenue and over 24 TWh in electricity consumption per year, the BRC founding corporate buyers include Becton, Dickinson, and Co., Bloomberg, eBay, GM, HP, Kaiser Permanente, Nestle Waters North America, Owens Corning, Salesforce.com, Sprint and VF Corporation.
“The collaborative effort of the BRC will make it easier for corporations to enter the renewables market. Instead of having hundreds of corporations reinvent the wheel, each member can get immediate access to the cumulative knowledge and wisdom of the industry. Each problem only needs to get solved once,” said Rob Threlkeld, manager of renewable energy at GM.
The BRC founding project developers include Apex Clean Energy, E.ON-Climate and Renewables North America, FirstSolar, Invenergy, NextEra Energy Resources, NRG Energy, OneEnergy Renewables, OwnEnergy and SunEdison.
"Innovative new solar financing vehicles have expanded the opportunity for corporations of all shapes and sizes to lock in the environmental and economic benefits of large-scale clean energy projects," said Bryce Smith, CEO of OneEnergy Renewables. "We look forward to introducing off-site solar projects to companies eager to access reliable, low-risk renewables through the BRC network.”
The BRC founding transaction service providers include Altenex, Climate Friendly, Customer First Renewables, Origin Climate, Renewable Choice Energy, Renewable Power Direct and Wilson Sonsini Goodrich & Rosati.
“The next decade will be a watershed for U.S. renewables. The establishment of the BRC is a testament to explosive industry growth and to the increasing appetite of corporations for easily adoptable, clean power solutions. Through collaborative efforts, the BRC is an exciting resource for everyone in the industry and for our clients,” said Quayle Hodek, CEO of Renewable Choice Energy.
The RMI-convened BRC is part of a larger corporate renewable energy effort—the Corporate Renewables Partnership—that includes WWF, WRI and BSR.
Learn more about the BRC and how to become a corporate member at rmi.org/business_renewables_center. If you have any questions contact us directly at brc(at)rmi(dot)org.
About Rocky Mountain InstituteSince 1982, Rocky Mountain Institute has advanced market-based solutions that transform global energy use to create a clean, prosperous, and secure future. An independent, nonprofit think-and-do tank, RMI engages with businesses, communities, and institutions to accelerate and scale replicable solutions that drive the cost-effective shift from fossil fuels to efficiency and renewables. For more information, please contact media(at)rmi(dot)org
About the Corporate Renewables Partnership The Corporate Renewables Partnership is a coordinated effort between four nonprofit organizations: WWF, WRI, BSR and RMI. Its initiatives include the Corporate Renewable Energy Buyers’ Principles and new regulatory models to meet these needs, Future of Internet Power, and the BRC, all aimed at expanding the market for corporate renewable energy procurement.