LevelTen Energy Joins Leadership Circle and Advisory Council on Newly-Formed Renewable Energy Buyers Alliance

LevelTen News
March 28, 2019

Today Google, Facebook, General Motors and Walmart, along with more than 300 other companies, launched the Renewable Energy Buyers Alliance (REBA), the largest group of corporate renewable energy buyers in the United States. By working to unlock the marketplace for organizations to buy renewable energy, REBA hopes to bring more than 60 gigawatts (GW) of new renewables online in the United States by 2025.

As a member of the REBA Advisory Council and Leadership Circle, LevelTen Energy will play a key role in defining industry best practices, developing educational materials, and driving innovation in purchasing models.

REBA's mission to create a resilient, carbon-free energy system, where every organization has an easy and cost-effective path to buying renewable energy, is closely aligned to LevelTen's mission.We set out from day one to create a renewable energy platform that reduces friction in the energy procurement process, removing the barriers that have prevented small and midsized corporations from getting involved. We look forward to working with fellow REBA members to move the industry forward on this.

With offices in Washington, DC and Boulder, Colorado, the new association will function as a membership organization spanning diverse industries and business types, and whose leadership circle alone represents annual revenues of $1 trillion, millions of jobs, and more than 1% of US annual electricity consumption (48 terawatt-hours).

"Every enterprise-whether it's a bakery, a big-box retailer, or a data center-should have an easy and direct path to buy clean energy. Ultimately, sourcing clean energy should be as simple as clicking a button," said Michael Terrell, head of Energy Market Strategy, Google, and REBA's first board chair.

Achieving this will require removing barriers that restrict access to clean energy. In many parts of the United States, the electricity system functions largely the same way it did 75 years ago. In the decades since, clean energy costs have come down and consumer preferences have evolved. Price is no longer the barrier-to the contrary, historic cost declines mean that renewable energy has increasingly become the most cost-effective resource available. Today it is lack of access to purchase these resources that is holding us back.

Unlocking access to corporate renewable procurement is an important step in efforts to combat climate change. Commercial and industrial energy users were responsible for more than 2 billion tons of greenhouse gases from energy use in 2018. Mitigating those emissions is part of the reason why over 70% of Fortune 100 companies have set greenhouse gas emissions reduction targets or renewable energy purchasing goals. Buying renewable energy is not only a core component of companies' strategy to reduce their impact on the climate, it also makes good business sense.

Corporate energy consumers have the collective voice to change markets, and REBA will provide a forum to bring together companies to drive a sustainable future. Membership is available to any nonresidential energy buyer, as well as clean energy developers and other service providers committed to carbon-free energy. The association aims to open energy markets and offer greater choice for corporate energy buyers, focusing on innovations in policy, markets and technology. It will offer members a number of key services:

  • Educational programs, tools and training to help companies prepare to buy clean energy at scale.
  • Policy advocacy for corporate renewable energy buyers and their brands, supporting policies that promote access to clean energy in the United States.
  • Research, data and communications to support market growth and the evolution of electricity systems around the world.
  • International coordination via a network of supporting corporate renewables organizations to expand access to renewables in key global markets.

"Never before has such a diverse group of organizations, from every industry, from every sector, come together to form an association with a single, market-focused, mission-driven vision of a zero-carbon energy future," said REBA's inaugural CEO and former US Air Force executive,MirandaBallentine. "Large energy buyers have the power to move markets."

For more information, visit https://rebuyers.org/

LevelTen Energy

LevelTen Energy is the leading provider of transaction infrastructure for the renewable energy economy. The platform delivers buyers, sellers, advisors, and financiers the automation software, data management, and standardized contracts needed to facilitate faster, safer renewable energy transactions. LevelTen’s marketplace of renewable energy power purchase agreements is the world’s largest, with more than 4,000 pricing offers spanning 21 countries in North America and Europe. LevelTen’s CFO-Ready Analytics™ automatically calculate more than a billion data points every day, providing buyers and advisors with leading-edge, real-time risk and value insights at modern market scale. Together, LevelTen and its partners share #OneGoal to accelerate the clean energy transition

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