Deloitte has released the results of a study conducted to understand the energy transition roadmaps for organisations.
The study included some 308 executives from 8 industries being asked the renewable energy goals of their organisations, procurement strategies and the challenges they are facing.
Key takeaways include:
- The renewable energy transition appears poised to accelerate in the US with a growing list of states, cities, private and public sector organisations taking the lead
- Almost 45% of organisations have plans to increase renewable energy sources in their electricity consumption mix by a target year; nearly 25% cited having renewable production/generation goals
- Organisational transitions to renewable energy are being driven by cost-cutting (36.4%) and reducing environmental impact/carbon footprint (35.4%)
- Today’s goals just the “tip of the iceberg,” massive strides in policy, technology, and procurement strategies and tools are needed to turn 100% renewables from an aspiration to a destination
- Cost-cutting and the environment are top drivers for action. “Cost-cutting” was cited as number one at 36.4%, followed by the desire to reduce environmental impact and carbon footprint with 35.4%
- The health industry followed by the technology and telecommunications industry group is the most active and advanced industry sectors in renewable procurement
- Long-duration battery storage has the greatest impact in helping accelerate the 100% renewable transition
The adoption is mainly being driven by economic incentives, pressure to decarbonise and technological advances.
“While it is encouraging to see the progress being made by organizations across industry groups, where we are today is only the tip of the iceberg to achieving 100% renewable energy.
There is a long way to go for those looking to utilise these resources to lower the carbon footprint of their operations. For many, 100% renewables will remain an aspiration unless more wind and solar energy are available and key policy initiatives and technological advances are realised.”
To access the full report, click here.