Digital Transformation Slows Down the Global Economy
Amazon Is The Largest Investor On Renewable Energy For 2024
By Shubhendra Anand , 25 July, 2024
The renewable energy industry is gaining momentum due to the transition of clean energy worldwide. The nations globally aim to achieve net zero emissions by the end of 2050. In the United States, the targets of clean energy transition are to be completed by 2035. Hence, global green energy is rapidly moving day by day. The energy market will witness more investment in renewables in 2024. Large companies like Amazon are setting themselves up as one of the most prominent investors in renewables. Amazon has invested in solar and wind energy for the past four years to support green energy transformation. Studies have proven that Amazon will be the most significant corporate investor in renewable energy for the fourth time in 2024
According to the surveys, Amazon invests the most in wind and solar energy to build its renewable portfolio. The growing use of renewables in the light of the clean energy transition indicates the pace of transformation in 2024. There is an increasing rate of production for renewables to meet its demand. However, the production of renewables is different in several countries. Based on the data from the surveys in 2024, Amazon is the largest solar and wind energy investor. The company has invested in more than 500 solar and wind projects worldwide. Amazon anticipates building a renewable energy portfolio that will power 7.2 million homes in the United States annually. It is worth noting that Amazon invested in 100 wind and solar energy projects in 2023. Hence, it became the world's largest corporate buyer of renewable energy. Amazon bought renewables for four consecutive years to be in this position.
Amazon is expecting to achieve net zero emissions by the end of 2040. Experts suggest that Amazon's renewable energy projects can produce 100 percent electricity by 2025. Along with Amazon's industrial benefits, its renewable sources provide clean energy to local communities near its project areas. Hence, Amazon can lead the corporate world in adopting renewables to reshape the energy landscape for a clean energy transition.
Amazon Is The Largest Investor On Renewable Energy For 2024
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Shubhendra Anand
Head Research
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