Renewable energy is a key part of the commercial real estate industry’s strategy to decarbonize. The renewable energy market is growing by 8.5 percent annually, giving companies an increasing number of options to choose from. With every portfolio being unique, it can be difficult to navigate what renewables are most compatible with an asset.
Properties may face physical or financial constraints that rule out on-site solutions, leading companies to explore their off-site options. ULI Greenprint and Innovation Partner, Transparent Energy, have released the Off-Site Renewable Energy Buyer’s Guide for Real Estate to help owners and developers navigate the off-site renewable energy market and process.
This publication provides an overview of the off-site renewable energy market, and step-by-step instructions for real estate professionals to purchase off-site renewable energy for a building or portfolio, with several opportunities for contracting to fit different real estate development strategies, ownership horizons, tenant requirements, and energy, sustainability, and financial goals.
David Braun, vice president of partnerships and renewable energy projects for Transparent Energy, states, “procuring offsite renewables to meet carbon-reduction goals strategically and economically is an art and science steeped in energy-market expertise and advanced procurement practices. In the Buyer’s Guide we have developed with ULI and ULI Greenprint, we provide a comprehensive overview of the renewable-energy products available to ULI members and the techniques used to procure them. We look forward to educating ULI members through the Buyer’s Guide and partnering with them in planning and executing their off-site renewables purchases to meet their sustainability goals.”
This guide will serve as an asset to ULI Greenprint members, who pledge to eliminate their carbon emissions by 2050. ULI Greenprint maps the Pathway to Net Zero, naming off-site renewable energy as a key step on the journey. Innovation Partners are an important supporter of ULI Greenprint real estate members through engaging them in tactics that will accelerate net zero goals.
“As an ULI Greenprint innovation partner, Transparent Energy is committed to helping ULI members reach their sustainability goals,” David continued. “Energy efficiency measures and on-site renewables are part of the answer, but the lion’s share of the work to reaching net zero will be achieved through the purchase of renewables from off-site sources.”
The Off-Site Renewable Energy Buyer’s Guide for Real Estate will help organizations dive into the off-site market and know what to expect, however, prospective buyers should always assemble the right team of internal and external personnel upon execution.