Transparent Energy, top energy procurement and energy advisory services company, announced this Wednesday it has surpassed 2,6 million Renewable energy Credits (RECs) transacted for its clients since May 2000.
Firstly, this milestone has helped the company to green up 2,6 billion kilowatt-hours of electricity use across commercial, industrial and institutional sectors. This would include large community choice aggregations (CCAs), cities, and towns.
Moreover, such an amount of RECs transacted over the years through the company’s online auction platform puts the company well on its way to achieving wider and bolder growth in the future. Particularly, the company expects a fivefold increase in 2022.
In addition, such a growth rate would be leveraged by the widespread adoption of RECs as decarbonization efforts become a top priority in governments’ and companies’ agendas. Indeed, energy buyers more and more prefer the procurement of renewable energy via competitive and transparent processes.
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Transparent Energy to keep helping clients transition
David Braun, Vice President, Partnerships and Renewable Project Origination, Transparent Energy, said about the matter. “We see the massive uptick in RECs purchases by our clients over the last year only accelerating as RECs provide a practical, cost-effective way to reduce an energy user’s carbon footprint.”
He also remarked. RECs have been around for a long time, but their strategic value has increased significantly – both as a ‘bridge’ to Power Purchase Agreements (PPAs) with renewable generators that may take years to develop and as a simple, verified way to add renewables to one’s portfolio in the near-term – as corporate sustainability efforts have gone mainstream.”
Furthermore, among the entities turning to Transparent Energy for RECs are manufacturers, logistics firms, REITs, restaurant chains, cities, colleges, and CCAs. Indeed, more and more end-users are finding RECs to be an affordable way to offset the ‘brown’ component of the electricity they consume, while making a demonstrable investment in the growth of the renewable energy market.
Finally, Luke McAuliffe, President, Transparent Energy remarked. “It’s easy for large energy buyers to think that on-site solar installations or PPAs are the only way to reach their net-zero carbon goals, but RECs provide immediate value to the purchaser’s carbon bottom line, offsetting carbon emissions and ensuring ongoing investment in renewables that benefit both the buyer and the planet.”
