A look back at how REBA’s members advanced renewables purchasing during a global pandemic.
As we turn the page on 2020 and look ahead to a new year filled with hope—for the climate, for public health, and for the economy—we can also reflect on what went right this year for large energy buyers, renewables, and climate action.
A Year to Grow and Support
In 2020, REBA added over 70 new members largely fueled by energy buyers that accounted for 70% of membership growth. These new buyers are a diverse group representing the commercial and industrial sector, ranging from a global leader in chemicals, BASF, to a rapidly scaling agriculture tech company, AppHarvest. REBA also added over 20 new supply-side members, split between energy providers and intermediaries.
Despite the good news growth story, economic uncertainty has affected many REBA members, especially those in the hospitality, travel and tourism space. We at REBA feel deeply for the individuals who have faced furloughs or seen their sustainability budgets slashed. We’re committed to supporting the REBA community through flexible engagement options, and will continue to partner with members on how to position the enough market through economic recovery.
A Diverse Community
Another notable trend of 2020 was the increasingly diverse makeup of REBA’s corporate members. While many think of corporate renewables as a project for the biggest companies in the world, only 34% of all REBA members are in the Fortune 500 today, and only 15% of the Fortune 500 are participating in REBA. Large technology companies comprise 24% of REBA buyers, but as of this year, are no larger the largest single business sector at REBA. That top spot now belongs to consumer discretionary, representing 27% of REBA buyer members and 30% of all new buyers joining REBA this past year.
A World-class Marketplace
In 2020, REBA’s ~130 energy buyer members represent approximately 80% of all corporate-backed renewable energy deals in the U.S. This adds up to 7.3 GW of a total 9.1 GW of newly announced, large scale renewable energy deals this year. REBA continues to be the place where deals happen, whether they are VPPAs, physical or nonspecific PPAs, green tariffs, or large-scale on-site deals (3%).
We couldn’t be prouder of the resiliency our members and the broader community presented in 2020. During a year when we were all tested, personally or professionally, the success stories from REBA members could fill many more pages than just this blog. We will celebrate the small victories of our most affected members right along side the record-breaking deal announcements of 2020 – and we’d love to hear from those of you that found a way to drive renewables forward.
We’re heading into 2021 with renewed effort for meaningful climate action and we hope you’ll join us.