- Home
- Actions
- How to reduce emissions
- Current
Introduction
01
The speed at which we decarbonize and grow the electricity sector to satisfy increasing demand will critically influence our ability to limit global warming to 1.5°C.
Renewable electricity is the main lever to decarbonize electricity consumption. Today, renewables are reliable and cost-competitive compared to conventional generation sources. Our work brings together leading companies representing the full renewable electricity value chain to accelerate the deployment of renewables and the transition to a low-carbon electricity system.
The challenge
02
Although renewable electricity accounted for 29% of global electricity generation in 2021, we need to accelerate progress to meet the rising electricity demand caused by electrification of energy end-uses and increasing access to energy.
The main challenges today are supply chain constraints, regulatory barriers for infrastructure, and effectively integrating growing proportions of renewables into grids and electricity markets.
The business case
03
The costs of renewable technologies have decreased to competitive levels, while technological and market advances are helping to overcome the challenges of variable generation patterns.
This makes renewables a profitable investment opportunity. Building and operating renewable projects is a profitable and sustainable business model for investors, developers, utilities and consumers alike.
The solution
04
Members in this project share the ambition to scale up renewable deployment beyond average growth to achieve 3.5 terawatts of capacity by 2025.
Building on our previous work on renewable finance, market structures and low-carbon microgrids, REscale has two ongoing workstreams:
- Increasing understanding and use of corporate renewable power purchase agreements (PPAs).
- Collaborating with global and national partners to scale up corporate renewable procurement in priority geographies: RE-Source Platform in Europe and RAiSE Initiave in South Africa.
SDG Impact
In addition to its explicit contribution to SDG 7: Affordable and clean energy, REscale supports a multitude of SDGs:
News
& Insights
Renewable electricity procurement: blazing a trail from innovation to leadership
27 April, 2023
Energy storage is key to unlocking renewable power’s full potential
4 May, 2022
Energy storage: How businesses can support power system flexibility for a renewable-powered future
23 October, 2023
