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Illustration: Aïda Amer/Axios

Google, Facebook, Walmart and other corporate giants have launched a new trade association with hundreds of members aimed at greatly expanding direct renewable power purchases by companies large and small.

Why it matters: The Renewable Energy Buyers Alliance is a sign of both the mainstreaming of corporate procurement and a recognition that companies face market barriers, even as wind and solar costs have fallen.

Other companies involved include General Motors, Johnson & Johnson, First Solar, Salesforce, and Citi.

  • Overall, hundreds of companies — spanning energy buyers, renewable power developers and service companies — are taking part, the announcement states.

The big picture: The group hopes to collectively bring more than 60 gigawatts of new renewable capacity online by 2025.

  • That's a lot! As CNBC's Tom DiChristopher points out, that's nearly equal to the total amount of U.S. solar photovoltaic capacity of 64 GW at the end of 2018.
  • Last year saw roughly 6.5 GW added via new corporate renewables deals, according to the nonprofit Rocky Mountain Institute (RMI).

How it works: The group will provide members with technical assistance, education, data and more to help navigate the complexities of renewables procurement.

  • But at the same time, they hope to push for ways to remove friction from the market, not just help companies overcome it.
  • "The barrier to growth is access, not cost, and that needs to change," Michael Terrell, Google's head of energy market strategy, tells Axios.
  • The group will have the ability to lobby at the state and federal level, but has not yet unveiled its policy agenda.

Where it stands: A bunch of companies including Big Tech have been scaling up renewables procurement in recent years.

  • The new effort is aimed at making it a far wider corporate practice, in part by helping the big companies that have been at the forefront of renewables procurement share their expertise.

Between the lines: Terrell says every company — whether a bakery or a big box retailer — "should have a direct and easy path to buying clean energy."

  • He calls it part of tackling climate change. “We need to be giving every buyer who wants to be clean the opportunity to do that,” Terrell adds.

Flashback: The group has its origins in a partnership developed between RMI, World Wildlife Fund, World Resources Institute, and Business for Social Responsibility several years ago.

  • "The new REBA will be a larger, better-resourced organization than when it was simply a collection of separate programs," RMI spokesperson Nick Steel said in an email.

Go deeper: The corporate renewables surge

Go deeper

Updated 3 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Ipsos poll: COVID trick-or-treat.
  2. World: Greece tightens coronavirus restrictions as Europe cases spike.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: Fully at-home rapid COVID test to move forward.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."

Trump's legacy is shaped by his narrow interests

Illustration: Annelise Capossela/Axios

President Trump's policy legacy is as much defined by what he's ignored as by what he's involved himself in.

The big picture: Over the past four years, Trump has interested himself in only a slim slice of the government he leads. Outside of trade, immigration, a personal war against the "Deep State" and the hot foreign policy issue of the moment, Trump has left many of his Cabinet secretaries to work without interruption, let alone direction.

Bryan Walsh, author of Future
3 hours ago - Technology

AI and automation are creating a hybrid workforce

Illustration: Annelise Capossela/Axios

AI and automation are receiving a boost during the coronavirus pandemic that in the short term is creating a new hybrid workforce rather than destroying jobs outright.

The big picture: While the forces of automation and AI will eliminate some jobs and create some new ones, the vast majority will remain but be dramatically changed. The challenge for employers will be ensuring workforces are ready for the effects of technology.