Managing Renewables Growth for a Clean Energy Future

Article by Constellation

Renewable energy growth in corporate and institutional procurement is accelerating at a rapid pace as corporations commit to aggressive sustainability goals. According to the Clean Energy Buyers Association, which tracks publicly announced clean energy purchases by commercial and industrial (C&I) customers, growth in renewable energy purchases has surged to nearly 17 GW in 2022 – growth of 27% from 2021 and 172% since 2018, when Constellation first started offering customers an offsite renewable product. This momentum poses capacity challenges, as well as big opportunities and potential to uplift utilities, corporations, the climate and entire economies. However, to realize the full potential of renewable energy, we need to ensure grid resilience and accessibility keep pace with the demand.

Why Grid Resilience is Critical

As climate change accelerates and more renewable energy is being developed, we need to modernize our grid infrastructure. Modernizing the grid requires major upgrades that support both the increase in renewable energy sources and the protection of our grid from storms, cyber threats and potential failures from aging infrastructure. These upgrades include adding transmission lines to connect renewable resources to population centers, as well as updating transformers and load balancing mechanisms. Upgrades like these are necessary for supporting distributed energy resources like rooftop solar and battery storage, which manage increasing energy flows. These upgrades are expensive and take time to implement. It is important that we continue to invest in our grid, or we risk system failure as clean energy increases instead of harnessing it to meet demand, decrease emissions, and combat climate change. Constellation offers efficiency solutions that enable businesses to modernize infrastructure to deliver positive operational, environmental and potential financial outcomes.

How Energy Demand Will Shape Renewable Growth

At the 28^th annual United Nations climate meeting, leaders called to triple global renewable energy capacity by 2030. This demand for renewable energy will accelerate at a fast pace due to the demand of companies looking to meet their corporate commitments to cut emissions. Plus, electric vehicle sales will continue to put more pressure on the grid as demand to power more electric vehicles increases.

The number of customers choosing cleaner power is also rising. Large investors are dedicating more resources to renewable projects as there’s more emphasis on ESG metrics. Plus, policy support for decarbonization at the federal, state and local levels of government encourages more companies to operate more sustainably. This combination of factors is accelerating the economy-wide transition and demand for renewable resources.

Such a fast pace of change inevitably creates real capacity challenges. However, by working together, we can manage those challenges. The transition can be successful if we proactively invest in infrastructure upgrades, help pass policies that support sustainability, and innovate responsibly. The challenges are significant, but the opportunity is even greater. Constellation sees tremendous potential for renewable energy if we work collectively to implement solutions.

Constellation’s Solutions

Constellation is taking ambitious steps as a leader in the fight against the climate crisis by providing reliable and resilient energy for customers and uplifting the communities we serve. As renewable expansion escalates, we plan to responsibly keep up with the transition through our business-wide efforts and commitment to develop innovations that match energy demand and meet the future needs of the economy.

Some of our key initiatives helping advance clean energy include:

Supplying reliable clean energy

• Generate energy from nuclear, hydro, solar and wind, providing about 10 percent of the nation’s carbon-free energy.
• Produce clean, affordable hydrogen, essential to meeting the federal government’s goal of net zero carbon emissions by 2050.

Providing access to data and insights for customers

• Offer analytics and technology products to help you get accurate data to build, implement and measure your energy and sustainability strategy.
• Provide reporting tools to understand baseline energy usage and how energy efficiency upgrades reduce emissions.

Simplifying clean energy procurement

• Simplify purchasing through aggregated vPPAs, renewable energy certificates, and emission-free energy certificates (EFECs).

Implementing customized energy solutions

• Install onsite solar energy systems to meet customer sustainability commitments.
• Make efficiency improvements and help our customers develop and implement demand management strategies.

Advising the clean energy journey

• Guide customers with energy professionals who create customized sustainability roadmaps to help businesses meet carbon reduction goals.
• Deliver customized energy management services and solutions to help commercial, industrial and residential customers successfully navigate the evolving landscape.

Constellation is Committed to Clean Energy Solutions

Constellation takes an active role in conferences focused on the renewable transition, recently participating in a panel session on challenges and opportunities in renewable energy procurement, as covered in this GreenBiz article. Executive Director of Renewables Origination, Ben Chadwick, brought Constellation’s experience to the discussion, covering innovative programs like our CORe offering. Chadwick touched on both the challenges and the incredible potential this transformation will bring. By participating in panels like this one, our experts are able to help educate the public while sharing vital insights and discuss solutions that could help responsibly shape the future of renewables.

Contact Constellation today to learn more about how we can help your business achieve its renewable energy and sustainability objectives through customized solutions managed by our experienced energy experts.

Contact Us

Sources:

Renewable energy: Global capacity increased by 50% in 2023 | World Economic Forum (weforum.org)

Constellation-2023-Sustainability-Report.pdf

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.