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113 W Monument Street, Floor 2
Baltimore, MD, 21201
United States

(410) 962-1188 x27

Baltimore-based alternative and clean energy company. Certified MBE for energy consulting, energy management information systems, and renewable energy facility production.

Blog

New Approaches to PPAs Open the Renewable Energy Market to More Businesses

BITHGROUP Technologies

As costs have declined and new contracting options have emerged, renewable energy purchasing has become less of a risk for businesses. Through aggregation and virtual power purchase agreements (VPPAs), customers can enjoy new flexibility when procuring utility-scale renewable energy.

The cost of utility-scale solar power fell nearly 30% in 2017 alone, and has decreased nearly 80% since 2010, according to the National Renewable Energy Laboratory (NREL). Similarly, the International Renewable Energy Agency (IRENA) has reported that costs for on-shore wind power have fallen 45% since 2010. Plummeting renewable generation costs have made utility-scale renewable energy more competitive—and in many cases less expensive than electricity generated from nuclear, coal, and natural gas resources.

Until very recently, however, the favorable economics behind utility-scale renewables had only been available to organizations that use 50,000 MWh annually and can tolerate 15- or 20-year commitments. The companies that have made utility-scale renewable energy purchases over the past five years, for example, is limited to about 50 of the Fortune 500.

We expect that dynamic to change.