Corporates committed to 100% renewables now have a higher energy demand than France
Businesses signed up to the RE100 initiative, committing to power themselves with clean energy, now consume more electricity annually than France, as they continue to increase demand for renewables.
There are now more than 400 companies signed up to the RE100 initiative’s commitment to consuming 100% renewable electricity by 2050, with major brands including Apple, Google and Sony all members.
The RE100 has confirmed that, if its collective members were a country, it would be the world’s 10th largest in terms of electricity consumption.
The companies have surpassed 500TWh per year of electricity demand and are committed to transitioning to 100% renewable electricity. As such, RE100 members now consume more electricity annually than France.
In response, the corporations are calling on national and regional governments to remove policy barriers in order to enable the uptake of 100% renewable electricity at a greater pace, while creating cheaper costs. Renewables are already cheaper than fossil fuels in many nations with IRENA reporting in 2021 that two-thirds of newly installed renewable capacity, located withing G20 nations, was cheaper than the lowest-cost fossil fuel alternative.
“The race towards renewables is unstoppable and it’s being driven by our members. By committing to use 100% renewable electricity, our members send a powerful signal to policymakers and energy companies that the future is renewable,” Head of the RE100, Ollie Wilson, said.
“With an ever-increasing membership and an annual electricity consumption surpassing France and closing in on that of Germany, it’s clear there’s a huge and increasing demand for renewables. Corporates are taking climate action, governments must now do the same and support corporates with their electricity transition ambitions.”
At the start of the year, the organisation behind the RE100, the Climate Group, reported that members had collectively increased clean energy consumption year-on-year, despite some firms having to push deadlines back due to the energy crisis.
The analysis revealed that RE100 member firms consumed 49% renewable electricity on average in 2021, which is a 4% increase on 2020 levels.
The ongoing energy crisis has seen some RE100 members push back deadlines. Now, the average target set by RE100 members for achieving 100% renewable electricity use has been pushed back to 2031. However, 14 members have actually pushed their 100% renewable targets forward by an average of 12 years.
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