Schneider Electric, a specialist in the digital transformation of energy management and automation, has committed to sourcing 100% renewable electricity by the year 2030. The company strongly believes it cannot go renewable without ensuring optimization of its energy system first. Today’s commitments are another step-in Schneider Electric’s journey to becoming carbon neutral by 2030. Aligned with these commitments, Schneider Electric decided to join two global, collaborative initiatives, led by The Climate Group and bringing together influential businesses committed to accelerating climate action:
- RE100: to use 100% renewable electricity by 2030 with an intermediary objective of 80% by 2020
- EP100: to double energy productivity by 2030, against a 2005 baseline, setting an ambitious target to doubling the economic output from every unit of energy consumed
- On-site projects at Schneider Electric facilities around the world: with renewable energy initiatives, already in place at some Schneider Electric locations, such as a solar rooftop at its sites in Vadodara (India), Bangpoo (Thailand), or geothermal energy and a solar rooftop at its flagship office “The Hive”, France, among multiple others. Schneider Electric will install on-site renewable energy projects to help achieve its 2030 target. While on-site projects are expected to deliver a portion of Schneider Electric’s renewable electricity needs only, they will add to the company’s renewable energy capabilities, and act as a showcase for other organizations contemplating such options, together with energy efficiency enabling technologies;
- Offsite long-term procurement through Power Purchase Agreements (PPAs): a PPA is a long-term (12-20 year) contract between a renewable energy developer and a dedicated, creditworthy buyer. PPAs enable developers to secure financing for new wind, solar or other renewable electricity projects and allow buyers to enjoy predictable pricing from clean energy sources;
- Energy Attribute Certificates (EACs) and green tariffs: an EAC is a free market instrument which verifies that one megawatt hour of renewable electricity was generated and added to the grid from a green power source. Schneider Electric will use EACs as a flexible and fast way to acquire and track renewable electricity.