Globally, companies and institutions are seizing opportunities afforded by the tumbling price of renewable energy, along with consumer and stakeholder expectations, to reengergise their operations with 100% renewable energy.
Recent years have seen significant investment in renewable energy from corporate Australia, with factors driving investment including high retail electricity prices, the ever-lowering cost of renewable technology, increased awareness of climaterelated risk, as well as staff and customer demand.
Alongside this compelling climate and emissions reduction rationale, an increasingly strong business case has developed. Energy consultancy Energetics reports that companies can save between 15-47% of energy costs by purchasing renewables directly via a power purchase agreement (PPA).
Companies that make the plunge are joining a huge global trend. Around the world, over 210 major companies have made commitments to 100% renewable energy, with over 80 of these operating in Australia. After the five largest banks in Australia pledged to power their operations with renewable energy, companies committed to 100% renewable electricity now represent almost a quarter of the value of the Australia Stock Exchange (ASX).
This report analyses this trend, providing information on what is happening on the ground, while pointing to some of the reasons that companies are investing in renewable energy. Eighty big-name companies and institutions are analysed across seven major industry sectors.