Global studies show consumer and corporate investment preference for renewable over fossil fuel energy

September 16th, 2012 by Bloomberg New Energy Finance

Two global studies commissioned by Vestas reveal 85% of consumers want more renewable energy and 49% show a willingness to pay more for products made with renewable energy, while corporations are continuing to show preference for investing in renewable energy.

This data is drawn from two global surveys: the Global Consumer Wind Study 2012 (GCWS), an annual survey produced by TNS Gallup, about consumers’ preferences for renewable energy, and the Corporate Renewable Energy Index Report 2012 (CREX), an index of companies that use renewable energy voluntarily, prepared by Bloomberg New Energy Finance.

The CREX study found global investment in new renewable capacity has continued to rise. In 2011 net investment in renewable power capacity outpaced that of fossil fuel generation (US$ 237 billion for renewables versus US$ 223 billion for additional fossil fuel generation).

The GCWS showed that 45% of consumers surveyed perceive climate change as one of the top three challenges facing the world today while 62% of respondents say they would be more willing to buy products from brands using wind energy.

“The evidence presented by the surveys is extremely encouraging, clearly showing that consumers are demanding more renewable energy in the grid and are showing a willingness to pay a premium price for products made with renewable energy,” says Morten Albaek, Vestas Group Senior Vice President of Marketing, Communication and Corporate Relations.

Vestas believes corporations are part of the solution towards meeting the world’s rapidly rising demand for energy without increasing dangerous carbon emissions.

“The trend of private companies investing in renewable energy is very positive,” says Morten Albaek.

“We have already seen many companies such as IKEA purchasing wind turbines as part of a commitment to get all of its energy from renewable sources, and recently Aviva, the UK’s largest insurance group invested in a wind power plant in Spain as they wanted a low risk, strong yield investment.”

“The findings of the CREX report show corporations are taking an active role in purchasing their own renewable energy directly. However the pace of growth in companies’ use of renewable energy will depend on the level of political and regulatory support, and on further progress in the cost-competitiveness of these technologies,” says Michael Liebreich, Chief Executive of Bloomberg New Energy Finance.

In order to bring this important data to greater public attention, Vestas is conducting the 2012 Energy Transparency campaign, aimed at increasing transparency of consumers’ energy preferences globally and influencing companies’ energy procurement, while at the same time helping to shape the future energy mix of the world.

The 2012 Energy Transparency campaign aims to further amplify this trend and bring it to the public-eye with comprehensive third party evidence that on a global and local level creates transparency of the energy preferences of consumers and the actions of corporations.

The campaign was successfully kicked off in Rio De Janeiro in August 2012 and will feature events in London, New York, Frankfurt, and Sydney.

 

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