Saturday, January 21, 2023

Actually, Amazon, Meta, and Google are investing heavily in clean energy

Actually, Amazon, Meta, and Google are investing heavily in clean energy


The tech sector is driving the movement toward solar and wind energy.

According to recent statistics, Amazon, Meta, and Alphabet-owned Google are the top three corporate investors in wind and solar energy in the US.

While the technology industry is (perhaps understandably) setting an example for others by purchasing 48% of all clean electricity, a report(opens in new tab) from the American Clean Power Association (ACPA), a pressure group, also revealed that others are following that lead.

Over the past ten years, businesses in a variety of sectors, including the energy, telecommunications, and food and beverage industries, have boosted their purchases of renewable energy by an average of 73% annually DC as well as Puerto Rico.

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After Business Today(opens in new tab) recently reported that industry data has shown indicators of a decline in the demand for fossil fuels nationwide, this particular point in the ACPA's report is the second indication that the US oil industry may struggle in 2023 US businesses seem to be accepting the idea that investing in clean energy is vital but long-term. Over 300 companies have contracted 77.4 gigawatts (GW) of power, which could power 1,000 data centres or 18 million homes.

More than half of that energy has yet to go online despite that enormous expenditure. However, an ACPA spokeswoman told CNBC that they anticipate doing so "in the next three years".

These kinds of commitments are welcomed. Even while behemoths like Amazon, Meta, or Google have recently been involved in a layoff, data misuse, and ad revenue monopoly problems, the main reason for large companies making the decision is not ethical, despite our desire to do so switch is significantly less complex.

According to the ACPA survey, businesses can now seem to invest in clean power at a price that is affordable enough for them to make a decision.

Over the past ten years, the cost of solar and wind energy has decreased by 71% and 47%, respectively, and despite a rise in power purchase agreement (PPA) rates in 2022, US businesses nevertheless bought 20 GW of renewable energy by the year's end, 4 GW more than in any other year.

Even while the US's push for clean energy isn't motivated by the noblest goals, the long-term benefits of a cross-industry transition to renewables are still positive for the environment.

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