Large Corporations Shifting Toward Renewable Energy: What Developers Need to Know

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Large Corporations Have Been Shifting Toward Renewable Energy in Recent Years

This is a major step forward for the renewable energy industry, but there is still work to be done. For commercial and industrial developers, it is important to retain tenants, not just acquire sites. Intersect Energy is here to help commercial developers lower energy costs, meet social demands and improve client retention. Let’s take a deeper look at the shift toward renewable energy and what we can do to help you succeed as a developer.


Solar Energy and Lower Costs

When discussing the benefits of renewable energy, lower costs is usually one of the first things mentioned. The reason why is because renewable facilities not only operate at a very low cost, but the prices are stable because green energy comes from the sun or wind, which is free fuel. For developers, it is key to emphasize the stability of pricing to tenants, as they will find comfort in the fact that prices will not drastically increase over time.

Increased Solar Social Awareness

Another reason that there has been such a strong shift toward renewable energy is because of increased social awareness. The public is putting a stronger emphasis on clean energy due to the positive effects it has on the environment. From a decrease in global warming to improved public health, it’s hard to ignore the benefits. Corporations, both large and small, want to maintain a strong social presence. As developers, we at Intersect Energy believe it is important to stress these benefits to both new and existing tenants as they will want consumers to see them as environmentally conscious.

The Industry Leaders are Switching to Solar

With companies such as Facebook, Microsoft, Apple and General Motors shifting toward renewable energy in recent years, it’s exciting to see large companies looking toward the future. For many years, consumers thought renewable energy was just a trend, but these companies are proving that green energy is the future. Each year new companies are added to the corporate energy renewable contracts list. So far in 2018, as stated by The Business Renewables Center, companies such as Adobe, Etsy and Nestle have invested in renewable energy. To put things in perspective of just how much growth we’ve seen so far this year, there were 31 corporate renewable energy deals in 2017. So far in 2018, there have been 46 public transactions. These numbers suggest that renewable energy is more than just a trend!

All of Intersect Energy’s projects are completed with the highest quality materials and experienced team of partners to provide the best workmanship and maximize the economic benefits to our clients. Contact the team at Intersect Energy so we can help your firm save money while acquiring and retaining tenants!

Solar Energy Storage

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State-level renewable solar energy storage is on the rise

Solar Energy StorageIt is projected that about 73 GW of solar Photovoltaic Systems will be installed in the United States from 2018 to 2022. One gigawatt (aka GW) can provide enough energy for about 700,000 homes. California leads the states in most solar energy, and on May 9th the CEC (California Energy Commission) approved measures that all residential homes must adopt or incorporate solar power in the state starting in January 2020.

California is also pushing for battery storage during new home construction

Increased battery storage optimizes renewable energy consumption. Additionally, it will expand the industry by tying suppliers and home builders. However, there are bound to be questions related to the new standards. For example, the increase in construction costs will be a common question that users have. It will be important that the states educate users of the benefits that the energy savings will bring, which will greatly outweigh the costs.

Recently, New Jersey became the fifth state to adopt an energy storage target

New Jersey is now alongside states such as Hawaii, New York and California, the leading clean energy states. PV Magazine USA reports that the goal is to increase New Jersey’s renewable standard (amount of power from Utilities coming from renewable energy sources) to 35% by 2025 and 50% by 2030. If New Jersey is able to meet their goals, this will be a huge advancement for the renewable energy industry!

Hopeful for the future

This will hopefully give the energy storage industry more momentum to spread to the East coast. The industry is already setting plans for future renewable energy storage targets across the country. With California and New Jersey continuing to increase their renewable power, other states will more than likely begin to do the same. The question then becomes if other states will take a more proactive approach or a reactive one. Some states may be more skeptical, thus they may wait to see the results of the new standard in California and New Jersey before they fully commit.

Intersect Energy proudly shares renewable energy news and information to all our customers and those interested in seeing renewable energy expand. Stay up-to-date with all the happenings at Intersect Energy by following us on LinkedIn!