Fast Company: Why Salesforce, Gap, Bloomberg, and others are teaming up to buy solar

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Fast Company: Why Salesforce, Gap, Bloomberg, and others are teaming up to buy solar

January 17, 2019

On January 17, 2019, Fast Company covered our groundbreaking aggregation deal with five global companies.

Here are a few excerpts from the article:

“Separate to the conversation happening between those five businesses, a Seattle-based startup, LevelTen Energy, was coming up with an answer. The company launched three years ago with the idea to develop a marketplace–’sort of like a matchmaking service,’ says CEO Bryce Smith–to connect potential energy buyers with renewable projects in development across the country. LevelTen’s marketplace, which came around a year ago, is designed to help smaller companies, or those with lighter energy needs, purchase slices of renewable energy projects that fit their needs.”

“…if a company wants to purchase, say, 10 megawatts (for comparison, Apple recently brought a 200-megawatt solar farm online), LevelTen’s platform will show them projects that would enable them to purchase that share. And the platform would match them with other companies looking to make similar, smaller energy purchases so they could team up and aggregate demand.”

“The LevelTen platform also provides clear information about a renewable development’s financial outlook and investment risk factors, which is crucial for smaller companies trying to convince stakeholders that purchasing renewable energy is a good idea. ‘If you’re setting up purchasing agreements with five companies, then suddenly there are maybe 50 people–executives, sustainability managers, board directors–who have to sign off on it,’ Smith says. He hopes the LevelTen platform will be able to demystify the risk and financial implications of investing in renewable energy, and make it more commonplace for smaller companies.”

To read the full article, visit Fast Company.