More firms using electricity from renewables
More companies in 75 countries across the world, including the Philippines, are getting their electricity from renewable energy sources and corporate demand is expected to continue rising.
The International Renewable Energy Agency (Irena) said in a new report such companies consumed 465 million megawatt-hours (mWh) of power from renewable sources last year.
The Abu Dhabi-based Irena said such volume of power was enough to power a country the size of France.
In its 82-page “Corporate Sourcing of Renewables” report, Irena said that with the continued decline in the costs of renewables, corporate demand will continue to increase as companies sought to reduce electricity bills, hedge against future price spikes and address sustainability concerns.
The report identified three main drivers of corporate sourcing of renewables—environmental and sustainability concerns, social responsibility and reputation management, and economic and financial objectives.
