Corporations bought a record amount of clean energy in 2020, despite the devastation of the pandemic, with the US market maintaining its lead and new markets driving growth, according to a new report from BloombergNEF (BNEF).
The 2020 figure is up slightly from 20.1 GW in 2019 and more than 10 GW above the 13.6 GW seen in 2018. BNEF noted that the 2020 increase came despite the pandemic, global recession, and uncertainty about US energy policy ahead of the presidential election.
“To not only maintain, but grow, the clean energy procurement market under these conditions is a testament to how high sustainability is on many corporations’ agendas,” said Kyle Harrison, BNEF senior associate and lead author of the report.
BNEF found in its H1 2021 Corporate Energy Market Outlook that clean energy contracts were signed by more than 130 companies in sectors ranging from oil and gas to big tech.
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