Corporate America Goes Renewable

As renewable energy costs decrease, more U.S. corporations are buying clean energy.‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

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In the third quarter of 2020, residential solar installations jumped 14%. Electric utilities were big buyers of solar as well. Utility-scale solar power purchase agreements (PPAs) totaled 9.5 gigawatts (GW) during the quarter. And in the first nine months of 2020, 6.3 GW of new wind capacity came online in the U.S. There is now a record total of 69 GW worth of projects in the utility-scale solar pipeline. Over the next five years, the U.S. solar market is expected to install 107 GW of new projects. There are now more than 60,000 wind turbines with a total capacity of 111.8 GW in operation in 41 states, Guam and Puerto Rico. Installation costs are dropping for both wind and solar. Solar panels are becoming more efficient. Wind turbines are getting better, and offshore wind farms will soon dot most of the Eastern Seaboard. These will all continue to boost demand for installations. And, besides residential and utility customers, there's a third group that just can't buy enough renewable energy: corporate America. SPONSORED Former Government Insider Reveals: Devastation Is Coming to America A devastating economic crisis is about to unfold in America. It will be worse than the Great Recession and even the Great Depression. And if you're making THIS wealth-killing mistake, your family could be caught in its path. Discover the five steps you must take today to protect your wealth... and your family's future. Go HERE now.   Corporations Go Green By 2030, U.S. corporations could purchase up to 72 GW of renewable energy. The U.S. has more corporate renewable energy projects underway than any other country. And demand for renewables in the corporate sector has reached a tipping point. The main drivers are consumer and shareholder activism. Even without the Paris climate accord, many U.S. companies have big renewable energy targets and are buying renewable energy PPAs like never before. In particular, companies in the technology sector are driving this increase in corporate PPAs. In 2020, about 8 GW of new wind and solar farms were corporate energy buys. That's a 45% increase year over year. And now there are about 220 U.S. companies either buying or planning to buy renewable energy. About 40% of them have renewable energy targets that rise through 2025. That is a great tailwind (pun intended) for renewables. Overall, U.S. companies make up more than 60% of the global corporate renewable energy market. One of the reasons for this is the U.S. has more power-intensive data centers than any other country. Besides tech companies, manufacturing and telecommunication companies also use a lot of energy. In 2020, Verizon (NYSE: VZ) was the largest buyer. It signed seven PPAs for about 700 megawatts (MW). The next-largest buyer was General Motors (NYSE: GM). Its three PPAs will provide the company with about 500 MW of renewable power. Renewable energy is here to stay. And with the Biden administration in the White House, demand for clean energy sources will continue to soar. Savvy investors will want to have plenty of exposure to it in their portfolios. Good investing, Dave Leave a Comment MORE FROM PROFIT TRENDS Play Retail's Recovery With Shares of This Security and Transportation Company The Dividend-Paying Snack Maker to Add to Your Portfolio Top 3 Ways to Track the Effect of Female Leadership on the Markets Facebook Twitter Email Share SPONSORED Bill O'Reilly's Secret Source of Wealth Shocking Footage Caught on Camera. You've NEVER Seen Bill Like This. Click Here to Watch Now You are receiving this email because you subscribed to Profit Trends. Profit Trends is published by The Oxford Club. Ready to start investing? Click here now. Questions? Check out our FAQs. 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