Executive Briefings

These Companies Are America's Hungriest Wind and Solar Power Users

Major U.S. corporations such as Wal-Mart Stores Inc and General Motors Co have become some of America's biggest buyers of renewable energy, driving growth in an industry seen as key to helping the United States cut carbon emissions.

These Companies Are America's Hungriest Wind and Solar Power Users

Last year nearly 40 percent of U.S. wind contracts were signed by corporate power users, along with university and military customers. That's up from just 5 percent in 2013, according to the American Wind Energy Association trade group.

These users also accounted for an unprecedented 10 percent of the market for large-scale solar projects in 2016, figures from research firm GTM Research show. Just two years earlier there were none.

The big reason: lower energy bills.

Costs for solar and wind are plunging thanks to technological advances and increased global production of panels and turbines. Coupled with tax breaks and other incentives, big energy users such as GM are finding renewables to be competitive with, and often cheaper than, conventional sources of electricity.

The automaker has struck deals with two Texas wind farms that will soon provide enough energy to power over a dozen GM facilities, including the U.S. sport utility vehicle assembly plant in Arlington, Texas that produces the Chevrolet Tahoe, Cadillac Escalade and GMC Yukon.

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Last year nearly 40 percent of U.S. wind contracts were signed by corporate power users, along with university and military customers. That's up from just 5 percent in 2013, according to the American Wind Energy Association trade group.

These users also accounted for an unprecedented 10 percent of the market for large-scale solar projects in 2016, figures from research firm GTM Research show. Just two years earlier there were none.

The big reason: lower energy bills.

Costs for solar and wind are plunging thanks to technological advances and increased global production of panels and turbines. Coupled with tax breaks and other incentives, big energy users such as GM are finding renewables to be competitive with, and often cheaper than, conventional sources of electricity.

The automaker has struck deals with two Texas wind farms that will soon provide enough energy to power over a dozen GM facilities, including the U.S. sport utility vehicle assembly plant in Arlington, Texas that produces the Chevrolet Tahoe, Cadillac Escalade and GMC Yukon.

Read Full Article

These Companies Are America's Hungriest Wind and Solar Power Users