Industry Press Release – Utility Survey Data Reveals How 150 Organizations are Tackling Decarbonization Efforts

FRAMINGHAM, Mass. — Utility Dive’s studioID released the findings of their most recent report today, conducted in partnership with Ameresco, a leading cleantech integrator and renewable energy asset developer. The survey captured input from 150 executives across a wide range of corporate, healthcare and education organizations about how they are tackling decarbonization efforts to meet climate goals.

The survey sought to better understand where organizations stand in their efforts to pursue decarbonization, whether decarbonization goals are realistic, and what the next steps are to bring industries throughout the nation onboard in the pursuit of imperative climate goals. The survey found that organizations across all industries are facing pressure from stakeholders to implement long-term decarbonization goals. Decarbonization is in its nascent stage across these organizations, with many establishing decarbonization programs, but few going a step further to set greenhouse gas (GHG) abatement goals, harness strategic partnerships, and take advantage of financing mechanisms to help meet their goals.

Survey findings revealed 3 key takeaways:

1. The pressure valve is set. More than seven out of ten executives (72%) report that leadership of their organizations feels pressure from investors, partners, suppliers, and other stakeholders such as employees and the community to address climate goals and long-term decarbonization.
   • 13% say leadership feels intense pressure
   • 27% say leadership feels a lot of pressure
   • 32% say leadership feels some pressure
2. There are quite a few barriers to implementation. Energy management is a complex array of technologies and an ever-shifting landscape filled with large and small firms, well-known brands, and promising startups. Sifting through this complexity and deciding how to move forward—and with which partners—can be difficult for many organizations. The key barrier to implementation of long-term decarbonization goals has been access to capital and ability to finance energy upgrades (39%), but other barriers exist such as:
   • Lack of knowledge and awareness of science-based targets (SBTs) to reduce greenhouse gas emissions (26%)
   • Lack of staffing to implement decarbonization programs (26%)
   • Lack of technical expertise within the organization (21%)
   • Lack of interest and attention from leadership (17%)
3. Fortunately, organizations are open to creating strategic partnerships and harnessing financing mechanisms to help in their decarbonization efforts. Three out of five executives believe their organizations would be extremely or very willing to create strategic partnerships with comprehensive solutions providers to create a path forward for financing energy upgrades. The survey found that some organizations are already using mechanisms to finance commercial-scale renewable energy projects, but there wasn’t one that was used predominately. Almost equal numbers of organizations have used Energy Savings Performance Contracts (ESPCs), Power Purchase Agreements (PPAs), and Energy as a Service (EaaS) contract structures.

With the under-utilization of available financing mechanisms and a willingness to create strategic partnerships, there is immense opportunity and a great deal of room for growth. Organizations could potentially harness current stakeholder pressure, strategic partnerships, and financing mechanisms to quickly accelerate implementation and meet climate goals. Strategic partnerships with comprehensive energy solutions providers can help organizations break through the barriers they are facing to finance energy upgrades. These partnerships can help clear an organization’s path to net zero emissions by offering a standardized approach and step-by-step framework to get there.

Read the complete survey report, Understanding How Organizations are Tackling Decarbonization Efforts to Meet Climate Goals here: http://resources.industrydive.com/strategic-partnerships-and-financing-expedite-climate-goals.

Survey Methodology

Utility Dive’s studioID conducted an online, invitation-only survey, polling 150 executives from corporate, healthcare and education organizations in the U.S. from March to April of 2023. The majority of the responding organizations have fewer than 500 employees (43%); 23% have 500 to 999 employees; 20% have 2,000 to 4,999 employees; and 14% of the organizations surveyed employ 5,000 or more people. The survey consisted of multiple-choice, open-ended, Likert-scale and matrix questions to understand how these organizations are tackling decarbonization goals.