Global Market for Corporate, Utility-scale Offsite Renewable Energy Procurement to Reach $15.6 Billion by 2027

Reading time ( words)

To reduce greenhouse gas emissions, many large multinational corporations, universities, and municipalities, referred to a­s corporate buyers, are going beyond installing onsite renewable energy systems and engaging in innovative transaction models to procure renewable energy from utility-scale offsite renewable energy (ORE) projects. These models can help corporate buyers meet sustainability and energy spend reduction goals while reducing power market risks for project developers and independent power producers (IPPs). According to a new report from @NavigantRSRCH, the global market for corporate, utility-scale ORE procurement is expected to reach $15.6 billion by 2027.

“Renewable energy project developers and IPPs are increasingly required to compete with traditional electricity generation sources, and the resulting uncertainties in long-term income streams will affect the bankability of renewable energy projects,” said William Tokash, senior research analyst with Navigant. “These new renewable energy transaction models will not only help corporate buyers meet their sustainability and energy spend reduction goals, but will over time will help mitigate project bankability risks for project developers and IPPs.”

Asia Pacific is expected to be the largest region for utility-scale ORE procurement, where annual power capacity and revenue are forecast to reach 9.2 GW and $7.9 billion by 2027. The second largest region is projected to be North America, which is expected to reach 2.7 GW and $3.1 billion in 2027. The anticipated growth of these markets is dependent on the emergence of flexible contracting mechanisms that allow for the creditworthy benefits of a corporate buyer to be recognized by project developers and IPPs.



Suggested Items

Graphene Device Could Substantially Increase the Energy Efficiency of Fossil Fuel-powered Cars

06/02/2016 | University of Manchester
A graphene-based electrical nano-device has been created which could substantially increase the energy efficiency of fossil fuel-powered cars.

Global LED Market Expected to Record a CAGR of close to 17% until 2020

05/26/2016 | Business Wire
This research report titled ‘Global LED Market 2016-2020’ provides an in-depth analysis of market growth in terms of revenue and emerging market trends. The market size is calculated on the basis of revenue generated from four segments, including general lighting, backlighting, automotive lighting, and others.

The Real Martian Spinoffs Part 3: Harnessing the Power

10/15/2015 | NASA
It will be the most powerful rocket ever built. More powerful than the mighty Saturn V that took humans to the moon, the Space Launch System (SLS), NASA’s newest rocket currently under development, will have the capability to send astronauts deeper into space than ever before. With SLS and the Orion capsule, humans will no longer have to dream of walking on Mars: They finally will do it.

Copyright © 2019 I-Connect007. All rights reserved.