Fewer corporate PPAs
Fewer corporate PPAs were signed in 2016 than expected at the start of the year.
Projections were that 4,000 megawatts of power purchase agreements would be signed directly with corporate purchasers of electricity. The final number was 2,194 megawatts, according to Renewable Choice Energy, a broker that helps arrange such contracts. Some companies may have been reluctant to lock in long-term purchases because of a perception that electricity prices will fall.
Buyers during 2016 included Johnson & Johnson, 3M, Dow Chemical, Google, Microsoft, Amazon, MIT, the University of California, the University of Illinois, Ithaca College, Steelcase, Lockheed Martin, Avery Denison, Salesforce, HSBC, Digital Realty, Iron Mountain, General Motors, Target, Walmart, and the US Army.
In 2015, 3,260 megawatts of corporate PPAs were signed. There were 1,494 megawatts of corporate PPAs signed in 2014.