PPB December 2019

Ene r gy Ma r ke t Market Snapshot We’re in the middle of a clean energy revolution. Nearly three in four Americans think the U.S. should produce all its energy from renewable energy sources, according to market research firm Maslansky & Partners. More than half think renewables are a good idea even if they raise energy bills. Consumers aren’t the only ones pushing for clean energy. A record number of companies are also committing to moving toward renewable energy. Last year was a banner year for U.S. corporations, which purchased a record 6.43 gigawatts of renewable power, according to the World Resources Institute. This is enough to power more than 1.5 million American homes each year and more than double the previous record of 3.22 gigawatts in 2015. Currently, 53 Fortune 500 companies have 100-percent renewable energy goals, compared to just 23 companies with the same target in 2017. When it comes to clean energy in individual cities, opportunities abound. A National Renewable Energy Laboratory study estimates that small-building rooftops alone can host enough solar energy to cover the annual electricity needs of more than 121 million American homes. In the coming years, the challenge for those in the energy sector is to meet the growing demand for reliable, affordable and clean energy. Power Sources Here’s where the world gets its energy: America’s Most Solar-Powered Cities These cities are deemed “Solar Stars” by Environment America: 1 Honolulu, Hawaii 2 San Diego, California 3 San Jose, California 4 Burlington, Vermont 5 Las Vegas, Nevada 6 Phoenix, Arizona 7 Indianapolis, Indiana 8 Riverside, California 9 Denver, Colorado 10 Albuquerque, New Mexico Source: EnvironmentAmerica.org Let The Sun Shine In • Solar energy generates enough clean electricity to power more than 13.1 million average American homes • The world will add 70,000 solar panels every hour over the next five years • Solar energy is the world’s cheapest and most abundant energy source • In 2018, solar energy experienced its sixth consecutive year in the No. 1 or No. 2 position for energy generation capacity Sources: Solar Energy Industries Association and the World Economic Forum Source: Lumen Candela Petroleum Coal 56 | DECEMBER 2019 | GROW