As world leaders head to Scotland for COP26, in this most crucial of decades, this comprehensive study offers timely and critical insights into how decision-makers in corporate America think and act on energy policy and procurement, and the vital role they must play if the U.S. is to achieve its climate goals.
BayWa r.e. commissioned Kantar to conduct a survey of hundreds of U.S. corporate decision-makers to explore a series of topics crucial to the advancement of the renewable transition in the time we have left to avoid the worst consequences of the global climate crisis. As U.S. corporations drive almost 60 percent of electricity demand, these organizations play an essential role in closing the gap between goals and reality. A series of questions was asked to provide critical insights into how leading corporations are approaching the renewable transition, the opportunities they see and the barriers preventing progress.
Subjects covered in the “Energy Report 2021” include:
- Corporate expectations on the role of government in combating climate change.
- The drivers of energy decision-making at their companies, their energy goals and their expectations for energy provider partners.
- The types of energy being procured and ownership models.
- The demographics of corporate energy buyers.
- The role of consultants in corporate energy purchasing.
The findings of the survey reveal a nuanced view of energy procurement and policy in the U.S. business community that highlights the strong progress made and cause for optimism, while also underlining key challenges that must be addressed if the transition is to progress in the time we have left:
- There is a tension between 65 percent of respondents who said that it is the federal government’s responsibility to lead the charge on the transition to renewables while only 38 percent said the private sector should take a leading role.
- Sixty-five percent of respondents cited the low cost of renewable energy options as the main driver to purchase.
- Eighty-three percent of respondents aim to increase energy efficiency in their operations and 59 percent said they planned to increase the use of renewables, with solar being the leading option.
- Some organizational barriers impede companies from making further investments in renewable energy; 38 percent of respondents cited a lack of internal knowledge about renewables and 33 percent cited a lack of expertise to evaluate options.
“The key takeaways of the ‘Energy Report 2021’ reveal both the major gains that corporate renewables procurement has made in the U.S. but also the serious challenges that lie ahead,” said Mike Danielson, vice president of BayWa r.e. Solar Projects LLC in the Americas. “The question remains: what do corporations need to do to get from where we are to where we need to be in order to meet the ambitious net-zero carbon goals over the next decade—the decade that matters in the fight against climate change? We know the answer: corporations need to accelerate the energy transition with more procurement and more innovation in their energy supply.”
“This report clearly shows the huge opportunities for the business world to step up and lead by example,” said Sam Kimmins, Head of RE100 of the Climate Group, and a key partner of the report. “It is critical for more companies to take a leadership role. With renewable electricity at a competitive price and a well-developed market offering electricity solutions tailored to corporate needs, the business sector can, and must, take more responsibility for driving change.”
To read BayWa r.e.’s “Energy Report 2021,” go to www.energy-report-2021.com
