This article was adapted from Energy Weekly, a free newsletter about the clean energy transition.
Good news: Corporations, once again, broke their own annual record in renewable energy deployments.
Bad news: Emissions from the power sector are on the rise.
So here we are: putting more renewables than ever on the grid and seeing emissions rising. What gives? The history of whale oil may offer answers.
Global corporate procurements are at an all-time high
Analysis from BloombergNEF shows that corporations across the globe procured a record 31.1 gigawatts of clean energy in 2021, a 24 percent increase from the previous year’s record of 25.1 GW.
With corporations striving to meet climate goals and the economics tailwinds, it seems the momentum is unstoppable.
“It is no longer a matter of whether corporate clean energy procurement will grow each year; it’s a matter of how…