72% of Corporations are Actively Acquiring Solar Power

Corporations are interested in solar power and they are far more interested in buying their own renewables than they were even a year ago. According to a new survey by PricewaterhouseCoopers, cheaper sustainable energy allows more corporations to look at other options for producing their own power. Corporate sustainability mandates are still the primary driver of purchasing decisions, but solar price has had an effect on corporate purchasing decisions as well.

Corporations interested in solar power

Out of all the businesses surveyed, 72% said that they are actively obtaining sustainable energy, particularly solar power. Companies that are buying solar or other renewables, almost half have specific sustainable energy goals. However, the appealing payback was the second-biggest driver for seeking out clean energy.

In the past six months, almost two-thirds of companies who took part in the survey said they have become more interested in purchasing renewable energy, especially solar power. This poses a budding challenge for utilities — if they are not the ones supplying those power services.

Corporations interested in solar power

Many of these corporations have dedicated sustainability and energy managers, but they are not striking out on their own. PwC found that they’re looking for assistance tracking the return on investment of sustainable energy projects. They are also looking for help building the case for future energy projects and proving that the projects would not have otherwise been built without their assistance.

The PwC study reports that those who are successful with renewable energy procurement are likely to do it again. PwC found 85% of those who have purchased sustainable energy plan to buy more in the next 12 to 18 months.

Solar power, energy storage and energy efficiency in 2016

After solar, corporations said they are most interested in energy management software and advanced metering. Nearly 60% are also interested in energy storage.

Greentech Media Research estimates the market for comprehensive commercial and industrial energy management, including procurement and energy efficiency, will be valued at $16 billion this year!


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