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Corporate US renewable procurement outlook: Optimism amid a pessimistic year

22 November 2020 Kevin Adler

Despite the challenges to all forms of US corporate investment plans created by the economic downturn this year caused by COVID-19, commitments by large US companies to purchase renewable energy continued to grow. As a result, corporate procurement of new renewable projects to offset electricity consumption has upside potential over the next 10 years, according to a report by IHS Markit.

More than 3 GW of renewable and battery energy storage system capacity was signed in the first half of 2020, up from 2 GW in the first half of 2019, according to the report, "Corporate US renewable procurement outlook: Optimism amid a pessimistic year," written in September.

More significantly, new corporate commitments will grow by 4.4-7.2 GW per year through 2030, IHS Markit forecasts.

Despite the challenges to all forms of US corporate investment plans created by the economic downturn this year caused by COVID-19, commitments by large US companies to purchase renewable energy continued to grow. As a result, corporate procurement of new renewable projects to offset electricity consumption has upside potential over the next 10 years, according to a report by IHS Markit.

More than 3 GW of renewable and battery energy storage system capacity was signed in the first half of 2020, up from 2 GW in the first half of 2019, according to the report, "Corporate US renewable procurement outlook: Optimism amid a pessimistic year," written in September.

More significantly, new corporate commitments will grow by 4.4-7.2 GW per year through 2030, IHS Markit forecasts.

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