Corporations bought more clean energy in 2022 than any other year, ACP reports

Published on January 20, 2023 by Dave Kovaleski


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A new report from the American Clean Power Association (ACP) reveals that corporations set a record for purchasing clean energy in 2022.

ACP’s Clean Energy Powers American Business report found that corporations purchased nearly 20 gigawatts (GW) of clean energy in 2022, which is 4 GW higher than any other year. Specifically, over 300 corporations had contracted for clean energy, even as power purchase agreement (PPA) prices increased.

“Economic and environmental benefits, as well as growing pressure on corporations to meet sustainability targets, have led to a 100-times increase in corporate clean power procurement over the past decade. During that same period, solar and wind costs have decreased 71 percent and 47 percent, respectively, making both more attractive to corporate energy buyers. American companies are benefiting from – and contributing to – the affordability of clean power,” JC Sandberg, interim CEO and chief advocacy officer, said.

Among the key findings, the report revealed that technology companies have contracted more clean energy than any other industry. Amazon, Meta, and Google were the top three clean power buyers, with Amazon and Meta overtaking Google, the former leader. Between 2020 and 2022, Amazon announced 11 GW of new PPAs, while Meta has, on average, announced over 940 megawatts of new clean power procurement each year since 2013. Google had more than 940 MW of procurement in 2022.

The energy industry now has the second most clean power capacity contracted at 6.7 GW, with traditional oil and gas companies such as Shell, TotalEnergies, and ExxonMobil accounting for 60 percent of the total capacity contracted by energy companies.

Texas is home to the majority of corporate contracted clean power, followed by Illinois and Ohio. Overall, corporations are purchasing clean energy from 540 projects spread across 49 states, DC, and Puerto Rico.

“Texas might be the home of the oil and gas industry, but it is fast becoming the leading state to buy clean energy to power business activity,” Sandberg said. “Corporate demand for clean energy is a key driver for wind, solar, and battery storage development. Even traditional oil and gas companies now recognize the value of clean energy for their operations, making the energy sector the second-largest industry for clean power purchases.”

Approximately 326 companies have clean power procurement agreements in place across the nation. These operating contracts account for 16 percent of total operating clean power in the United States.

It also found that solar projects are now outpacing wind as the preferred choice for corporate buyers. Utility-scale solar accounted for 58 percent of corporate contracted clean power. It also noted that hybrid projects that include storage – primarily solar plus storage – are growing rapidly.

Projects with corporate buyers generate approximately $143 million in state and local tax payments and $147 million in land lease payments. They also avoid almost 47 million metric tons of carbon emissions each year.