Corporate acceleration of the renewable energy transition and implications for electric grids

Corporations are the fastest growing source of renewable energy demand in the United States and other key markets. Corporate demand has grown from about 5% of all U.S. renewable energy in 2010 to about 13% in 2019 and could exceed 20% by 2030. Over 200 large global corporations have committed to renewable energy targets that are more aggressive than national and sub-national targets. Here, we explore how increasing corporate procurement could affect grid operations and planning. At least in the near term, rising corporate procurement will change what, where, and when renewable energy assets are deployed to the grid. Corporate procurement could increase the need for flexible grid assets, pose challenges to formal grid planning processes, and raise questions around how to effectively and equitably allocate grid costs. We explore several pathways to integrate corporate procurement into formal grid planning and maximize the value of corporate renewable energy to future grids. •Corporations are the fastest growing source of voluntary renewable energy demand.•Corporate renewable energy targets are more aggressive than utility targets.•Corporate renewable energy procurement could accelerate transition to clean grids.•Corporate procurement could affect grid operations, planning, and cost allocation.•Corporate renewable energy buyers could be engaged in formal grid planning.