"The demand for renewable electricity in Europe, documented with Guarantees of Origin (GOs), has grown briskly in 2016 – up 5% from 2015 and reaching nearly 370 TWh," says Tom Lindberg, Managing Director in ECOHZ, based on statistics from the Association of Issuing Bodies (AIB). "Behind this growth are thousands of businesses and millions of households in numerous European countries purchasing renewable electricity documented with Guarantees of Origin."
"Much of the demand is driven by an increased sense of urgency among leading international businesses in contributing to combating climate change – by switching from fossil based power to clean, renewable energy," says Tom Lindberg.
This global backdrop has inspired leading companies across various industries to take charge of their destiny and define a clear sustainability agenda as critical to their future competitiveness. The last two years have seen several initiatives arise, many with similar goals of securing access to renewables to power all operations, in all corners of the world. The most far-reaching initiatives are WeMeanBusiness and the RE100. The RE100 initiative now has 87 corporate members that have all publicly pledged to consume 100% renewable energy. A large majority of companies have committed to achieving this by 2020.
Based on recent statistics from the AIB the European growth trend continues in 2016. From 2011 to 2016 the market experienced an annual growth (CAGR) of 12,5%.
The AIB statistics only include Guarantees of Origin based on the EECS standard. EECS GOs are tradable across national borders, among countries that have joined AIB, and that are connected to AIB's electronic GO hub.
There are still European markets with national systems that have yet to adopt the EECS standard, and that do not participate in the Pan-European market place. These markets total more than 200 TWh of purchased renewable power – thus pushing the actual market volume renewable toward the 600 TWh mark for 2016. This is 50% of all renewable power production in Europe.
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