Report: Retail, tech industry on track to procure 60 GW of green energy by 2025
States which invest in clean domestic energy production are also the most likely to attract new business and create jobs, according to a new report, as demand for clean energy among retailers and technology companies is expected to reach 60 gigawatts (GW) by 2025.
The new analysis, released by the Retail Industry Leaders Association (RILA) and the Information Technology Industry Council (ITI), ranks all 50 states based on the ease companies can procure domestic renewable energy such as wind and solar. It is the first comprehensive ranking of state renewable energy procurement policies.
“Retailers are at the forefront of the growing trend to procure clean energy to power their operations; this index will help them focus on the states that are conducive to doing business. We urge state governments to look hard at steps they can take to promote customer choice for renewable energy so that they can open the doors to new investments,” said Adam Siegel, Senior Vice President, Research, Innovation & Sustainability at RILA.
The top five states ranked in the report for procurement include Iowa, Illinois, New Jersey, California, and Texas. Florida, Kentucky, Alaska, Idaho, Wyoming and Alabama were ranked in the bottom spots.
Retail and tech companies, such as Amazon, Apple, Google, Microsoft, Target and Wal-Mart have been on the hunt for renewable energy sources to power their operations. The report, prepared by Clean Edge on behalf of RILA and ITI, notes that demand for clean energy by retailers and technology companies will increase to 60 GW by 2025, the equivalent of powering over 43 million homes. The report also notes about half of the Fortune 500 companies are seeking to locate operations in states with clean energy production.
“The technology industry is increasingly transitioning to clean energy to meet customer demands, consumer expectations and our own strong sustainability commitments. Clean and renewable energy sources are good for the environment, and they provide energy reliability and price stability benefits that are good for business. States interested in growing their tech sector should embrace this trend,” said Rick Goss, Senior Vice President for Environment and Sustainability for ITI.
The report recommends state deregulate power markets to enable customer choice for renewable energy and competition from renewable energy providers. It also lists over-regulation and high artificial taxes that shut power markets off from competition as barriers that inhibit states from growing their domestic renewable energy production.
Another report by the Advanced Energy Economy found more than 70 of Fortune 100 companies have set renewable and sustainability targets, up from 60 companies just two years ago.
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