Honda makes largest renewable energy purchase of any automaker

September 25, 2019 by  
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Multinational auto manufacturer Honda Motor Company, headquartered in Tokyo, recently made the largest renewable clean energy purchase by any car maker. The electricity will be utilized to offset emissions from its United States factories, thus enabling Honda to reduce its greenhouse gas emissions by 60 percent in its North American manufacturing plants. With widespread public debate and mounting regulatory pressures, automakers have no choice but to shift their business models to address the carbon dioxide reduction challenge. It is no wonder then that a growing number of automobile companies are turning to renewables, like wind and solar, to achieve sustainable returns. Related: Beautiful, solar-powered EV charging stations promise to charge a vehicle in 15 minutes According to Honda, it currently obtains about 21 percent of its North American operations’ power from low- or zero-emission power sources.  But it hopes to improve upon that, thanks to clinching the car industry’s largest renewable energy purchase. Honda’s new clean energy deal involves the purchase of wind power from an Oklahoma wind farm as well as sourcing energy from a Texas solar farm. Projections show that, with this clean energy purchase, Honda can annually offset 800,000 metric tons of carbon dioxide emissions. That’s equal to “100,000 U.S. households’ worth of CO2-emissions from household energy usage,” as described in Honda’s press release. Honda revealed, “Two Virtual Power Purchase Agreements (VPPAs) will secure 320 megawatts (MW) of wind and solar power totaling over 1 million megawatt-hours (MWh) of renewable electricity annually.” How do VPPAs operate? Honda explained that VPPAs are “a way for Honda to purchase renewable energy in locations where it is unable to purchase renewables from the local electric utility.” The automaker buys “electricity from a renewable energy supplier, but the clean energy does not go directly to Honda’s facilities; instead, it is sold into the electricity grid where the clean power is generated.” In effect, Honda’s ‘virtual purchase’ of that “renewable energy adds more clean energy into the nation’s grid,” which decreases fossil fuel dependency and any accompanying carbon dioxide emissions. Honda’s VPPA purchase essentially “de-carbonizes” the electricity grid. Analysts say VPPAs are becoming an ever-popular means for large corporations seeking to meet carbon dioxide emission reduction goals.  Tech giants, like Google and Microsoft, for instance, have historically purchased VPPAs as well. Business industry pundits forecast an uptick of VPPA procurements in the next couple of years as renewable energy policy intensifies. Aligned with its revitalized green mission, Honda’s long-term plans go far beyond clean energy purchases, as it continues its commitment to sustainability. The company similarly announced plans to electrify two-thirds of its manufactured vehicular fleet so that they are charged via renewable energy by 2030. + Honda Motor Company Image via Honda Motor Company

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Honda makes largest renewable energy purchase of any automaker

Honda makes largest renewable energy purchase of any automaker

September 25, 2019 by  
Filed under Business, Eco, Green

Comments Off on Honda makes largest renewable energy purchase of any automaker

Multinational auto manufacturer Honda Motor Company, headquartered in Tokyo, recently made the largest renewable clean energy purchase by any car maker. The electricity will be utilized to offset emissions from its United States factories, thus enabling Honda to reduce its greenhouse gas emissions by 60 percent in its North American manufacturing plants. With widespread public debate and mounting regulatory pressures, automakers have no choice but to shift their business models to address the carbon dioxide reduction challenge. It is no wonder then that a growing number of automobile companies are turning to renewables, like wind and solar, to achieve sustainable returns. Related: Beautiful, solar-powered EV charging stations promise to charge a vehicle in 15 minutes According to Honda, it currently obtains about 21 percent of its North American operations’ power from low- or zero-emission power sources.  But it hopes to improve upon that, thanks to clinching the car industry’s largest renewable energy purchase. Honda’s new clean energy deal involves the purchase of wind power from an Oklahoma wind farm as well as sourcing energy from a Texas solar farm. Projections show that, with this clean energy purchase, Honda can annually offset 800,000 metric tons of carbon dioxide emissions. That’s equal to “100,000 U.S. households’ worth of CO2-emissions from household energy usage,” as described in Honda’s press release. Honda revealed, “Two Virtual Power Purchase Agreements (VPPAs) will secure 320 megawatts (MW) of wind and solar power totaling over 1 million megawatt-hours (MWh) of renewable electricity annually.” How do VPPAs operate? Honda explained that VPPAs are “a way for Honda to purchase renewable energy in locations where it is unable to purchase renewables from the local electric utility.” The automaker buys “electricity from a renewable energy supplier, but the clean energy does not go directly to Honda’s facilities; instead, it is sold into the electricity grid where the clean power is generated.” In effect, Honda’s ‘virtual purchase’ of that “renewable energy adds more clean energy into the nation’s grid,” which decreases fossil fuel dependency and any accompanying carbon dioxide emissions. Honda’s VPPA purchase essentially “de-carbonizes” the electricity grid. Analysts say VPPAs are becoming an ever-popular means for large corporations seeking to meet carbon dioxide emission reduction goals.  Tech giants, like Google and Microsoft, for instance, have historically purchased VPPAs as well. Business industry pundits forecast an uptick of VPPA procurements in the next couple of years as renewable energy policy intensifies. Aligned with its revitalized green mission, Honda’s long-term plans go far beyond clean energy purchases, as it continues its commitment to sustainability. The company similarly announced plans to electrify two-thirds of its manufactured vehicular fleet so that they are charged via renewable energy by 2030. + Honda Motor Company Image via Honda Motor Company

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Honda makes largest renewable energy purchase of any automaker

Google’s jaw-dropping renewable procurement proclamation

September 19, 2019 by  
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Its new 1.6-gigawatt solar and wind portfolio represents almost as much capacity as all of last year’s corporate deals, combined.

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Google’s jaw-dropping renewable procurement proclamation

Why Amazon’s plan to buy 100,000 EVs is huge and hard

September 19, 2019 by  
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It’s a game changer, but it won’t be easy.

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Why Amazon’s plan to buy 100,000 EVs is huge and hard

Clean Energy Deal Tracker: New models, players shape blockbuster quarter

July 11, 2019 by  
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The record second quarter of 2019 saw deals inked to add over 2.8 gigawatts of capacity and 490-gigawatt hours (GWh) annually to corporate energy portfolios.

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Clean Energy Deal Tracker: New models, players shape blockbuster quarter

Clean Energy Deal Tracker: New models, players shape blockbuster quarter

July 11, 2019 by  
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The record second quarter of 2019 saw deals inked to add over 2.8 gigawatts of capacity and 490-gigawatt hours (GWh) annually to corporate energy portfolios.

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Clean Energy Deal Tracker: New models, players shape blockbuster quarter

Why Autodesk is investing in an urban prefab construction startup

July 11, 2019 by  
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The software company’s strategic investment in Factory OS includes goals for impact metrics such as waste reduction, jobs creation potential and how the collaboration can stimulate the development of more affordable housing.

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Why Autodesk is investing in an urban prefab construction startup

Teeny, tiny creatures play a big role in climate change

July 11, 2019 by  
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Tiny bacteria, protozoa and fungi in agricultural systems contribute methane into the atmosphere — and they’re spreading.

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Teeny, tiny creatures play a big role in climate change

Carbon pricing and the journey towards an ‘energy constrained world’

July 11, 2019 by  
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An international system to curb energy use may be the only way to lift people out of poverty while preserving the planet.

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Carbon pricing and the journey towards an ‘energy constrained world’

A radical idea to get a high-renewable electric grid: Build way more solar and wind than needed

May 30, 2019 by  
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Solar and wind are renewable yet variable resources. New research shows that using them for the energy transition is not only possible, it’s also affordable.

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A radical idea to get a high-renewable electric grid: Build way more solar and wind than needed

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