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Summary of the Report: Competitiveness of Corporate Sourcing of Renewable Energy

Core Content

This report is the second part of a larger study on the competitiveness of the renewable energy sector, conducted by COWI and CEPS for the European Commission's Directorate-General for Energy (DG ENER). It focuses on the impact of corporate sourcing of renewable energy (RE) on the competitiveness of the European industry, highlighting drivers, barriers, and policy recommendations for promoting this transition.

The report identifies four main corporate sourcing options for renewable electricity:

1. Self-generation (e.g., solar PV or wind turbines for self-consumption)
2. Renewable Power Purchase Agreements (PPAs)
3. Unbundled Guarantees of Origin (GOs)
4. Renewable (green) energy offers from utilities or suppliers

It also discusses the impact of corporate sourcing on the EU economy, estimating that if EU-based companies source 30% of their electricity from renewables by 2030, the renewable energy sector could generate over €750 billion in gross added value (GVA) and more than 220,000 new jobs.

Main Drivers

The primary motivations for corporate sourcing of renewable energy are:

• Corporate Social Responsibility (CSR): Companies use RE to enhance their CSR strategy, differentiate their offerings, and gain a competitive advantage. This aligns with growing consumer and investor demand for sustainability.
• Meeting green requirements: Many companies source RE to comply with green standards set by customers or to participate in green supply chains.
• Green public procurement: In certain sectors, such as construction, corporate sourcing can open opportunities through public procurement initiatives.
• Cost competitiveness: While some companies report cost reductions, others find the impact on energy costs minimal. However, for most, energy cost reduction is a critical factor in the decision to source RE.

Main Barriers

The main challenges hindering corporate sourcing of RE include:

• Policy uncertainty and regulatory inconsistency: Frequent changes in support schemes and electricity price components (e.g., network costs, RES levies) create uncertainty, especially for companies operating across multiple Member States (MSs).
• Higher electricity costs: In some cases, RE is more expensive than conventional grid electricity, which limits its adoption.
• Company culture: A preference for high-return investments can deter companies from adopting RE unless it is cost-competitive.
• Fluctuating nature of RE: Variability in renewable generation (e.g., wind and solar) can affect production stability.
• Financial barriers: Limited access to investment support and high upfront costs are significant obstacles.

Policy Recommendations

To foster the transition to renewable energy in the corporate sector, the report suggests actions across three pillars:

1. Fostering Corporate Investments in Renewable Technologies

• Provide investment support such as grants, subsidised loans, or tax deductions/credits to reduce the payback period.
• Establish a one-stop-shop for authorising renewable installations to streamline the process.
• Allow direct contracting between generators and buyers in all MSs.
• Develop technical solutions to enable multiple supply contracts for corporate consumers.
• Support research and innovation in less mature renewable technologies to reduce generation costs and improve competitiveness.

2. Fostering Corporate Demand for Renewable Energy

• Reduce energy costs for RE purchased via PPAs or green energy offers through tax credits or exemptions.
• Ensure network costs and energy taxation do not discourage self-consumption.
• Implement EU ETS compensation schemes to prevent electricity-intensive companies from being at a disadvantage compared to conventional energy users.
• Reform national support schemes to ensure cost-effective, market-based support.
• Coordinate cross-border transmission infrastructure and improve capacity allocation to encourage cross-border RE PPAs.
• Offer public supported bank guarantees to make RE PPAs more attractive.
• Remove regulatory barriers to the transfer of GOs to off-takers.
• Improve trust in GOs and green energy offers.
• Raise awareness of the benefits of RE to increase corporate demand.

3. Fostering Demand for Green Products and Services

• Promote green public procurement to drive the adoption of RE by companies and their suppliers.
• Increase consumer awareness of the societal benefits of green energy to enhance willingness to pay for greener products and services.

Key Findings and Context

• The corporate sector is a major consumer of energy in the EU, responsible for 40% of final energy consumption and 70% of final electricity consumption, yet currently uses less than 20% of renewables.
• The RE100 initiative is not widely adopted by EU companies, with the majority not participating.
• Unbundled GOs are the most common sourcing option among RE100 members, while self-generation is more prevalent according to IRENA data.
• The Clean Energy for All Europeans package and National Energy and Climate Plans (NECPs) are expected to address many of the current barriers.
• The socio-economic impact of corporate RE sourcing is estimated using a gross input-output approach, showing significant potential for job creation and GVA growth.

Methodology and Limitations

• The report is based on 68 companies from the EU, 19 interviews with stakeholders, two workshops, 10 country-level analyses, and six case studies.
• The online survey is not statistically representative of the entire EU corporate sector.
• The analysis is backward-looking, based on current experiences and perceptions, and does not account for potential new drivers or barriers from future EU regulations.

Conclusion

Corporate sourcing of renewable energy plays a crucial role in the transition to a sustainable energy system and enhancing the competitiveness of European industries. While there are clear drivers such as CSR and cost competitiveness, barriers like policy uncertainty and higher costs remain significant. Addressing these barriers through targeted policy measures is essential to support the green energy transition in the corporate sector and to achieve the EU's renewable energy targets by 2030.