In 2024, RE100 member companies consumed over 545 TWh of electricity. More than half of that power, 53%, was attributed to renewable sources. Yet only 42% was verified under RE100’s recognition criteria, revealing persistent gaps in data quality, regulatory frameworks, and market access.

RE100 companies are businesses that have committed to sourcing 100% of their electricity from renewable sources by a specific target year.

The 2024 RE100 Annual Disclosure Report presents a nuanced story. Voluntary private-sector efforts are growing fast, but national policies, market structures, and transparency mechanisms are often not keeping pace.

Source: RE100

Major Industries

The manufacturing industry is the largest contributor to RE100’s electricity demand. In the 2024 disclosure, 109 manufacturing companies reported a total electricity consumption of 222 TWh, with 42% from renewable sources. This marks an increase from the 96 manufacturing companies in 2023, which consumed 184 TWh at a 33% renewable share.

The services sector includes 143 companies that reported using 138 TWh of electricity, 45% of which was from renewable sources. This is slightly less than the 147 companies in 2023, which consumed 125 TWh with a 47% renewable share.

The materials industry grew to 34 companies in 2024, consuming 56 TWh with 31% from renewables. In comparison, 29 companies consumed 43 TWh in 2023, with 37% of it renewable.

Retail companies also saw growth, with 27 companies in 2024 using 60 TWh of electricity, sourcing 35% from renewables. This is an increase from 22 companies in 2023, which consumed 58 TWh with a 28% renewable share.

In the food, beverage, and agriculture sector, 31 companies reported 39 TWh of electricity use in 2024, maintaining a 57% renewable energy share, consistent with the 2023 figures from 33 companies that consumed 40 TWh.

Biotech, healthcare, and pharmaceutical companies numbered 24 in both 2023 and 2024. Their total electricity consumption decreased from 16 TWh to 14 TWh, while the share of renewable energy increased from 48% to 58%.

The infrastructure sector had 32 companies in 2024 consuming 10 TWh at a 42% renewable rate, compared to 28 companies in 2023 using 9 TWh with a 27 % share.

In the hospitality sector, eight companies reported a combined electricity use of 3 TWh, with only 19% of this coming from renewable sources, a sharp decline from the 72% renewable use among seven companies in 2023.

Transportation services remained a small group, with three companies in both years using about 1 TWh. However, renewable sourcing decreased from 90% in 2023 to 61% in 2024.

The apparel sector had ten companies in 2024 using 1 TWh of electricity, with 66% from renewable sources, down from 12 companies in 2023 that used 2 TWh, with a 71% renewable share.

Corporate Progress and Growing Complexity

The latest report reveals that new membership and expanding operations are driving RE100’s electricity demand. Asia accounts for 75% of new joiners. Manufacturing remains the dominant sector, accounting for most of the energy use among new entrants.

However, there is a notable divergence between claimed and recognized renewable consumption. Of the total 289 TWh of energy self-reported as renewable, only 231 TWh was recognized. This gap arises from missing or incomplete data, particularly country-level disclosures, which are essential for RE100 to verify claims.

Several companies, including global giants like Microsoft, Alphabet, Starbucks, and Anheuser-Busch InBev, were among the most significant contributors to this recognition gap. These companies alone accounted for 57 TWh of unverified electricity consumption.

Procurement Patterns

One of the strongest trends in the 2024 report is the diversification of procurement methods. While power purchase agreements (PPAs) remain an important mechanism, particularly in North America, their share is declining. Instead, more companies are using contracts with suppliers and unbundled energy attribute certificates (EACs).

Contracts with suppliers jumped from 56 TWh in the previous year to 79 TWh in 2024. Self-generation also rose by 50% to 6 TWh, reflecting growing interest in on-site or near-site solutions. Unbundled EACs remained a major procurement tool, especially in Asia and Latin America, where regulatory barriers often constrain long-term PPAs.

The top PPA buyers were primarily based in the U.S. Walmart led with 3.5 TWh of recognized PPA purchases, followed by T-Mobile USA with 2.4 TWh, and Target Corporation with 2.1 TWh. Others included Nestlé, Apple, and Taiwan Semiconductor Manufacturing Company. However, the report notes that several major PPA buyers were excluded from this list due to insufficient reporting detail.

Facility Age and Ecolabels

RE100 is focusing more on the age of renewable facilities, which is considered a proxy for impact. Companies that procure electricity from newly built assets are viewed as actively supporting the development of clean energy generation rather than relying on legacy infrastructure.

In 2024, 63% of renewable electricity was sourced from facilities commissioned within the last 15 years, up from 53% in 2023. North and South America led in this metric, while Europe and Asia trailed with older average facility ages.

Certification and ecolabeling are also gaining traction. Green-e-certified renewable energy remains the most widely used standard, particularly in North America. In other regions, labels such as TÜV SÜD, EKOenergy, and Gold Standard are becoming more common. Still, a significant portion of renewable energy is purchased without any ecolabel, particularly in Asia and South America, where standards are evolving.

China

China presents both opportunities and contradictions. In 2024, it added 134 GW of new renewable capacity, a 24% increase over 2023. This expansion increased China’s total renewable capacity to 1.653 TW, surpassing its 2030 target six years before schedule.

RE100 companies in China increased their renewable sourcing from 50% in 2023 to 59% in 2024. However, much of this electricity came through contracts with suppliers or unbundled certificates rather than PPAs. The average age of facilities supplying these companies is 16 years, among the oldest in the RE100 network.

The Chinese government streamlined its green electricity certificate system and integrated it with the voluntary carbon market. A transition framework prevents companies from double-counting the same emissions reduction through certificates and carbon credits.

India

India is transforming rapidly. The country’s RE100 companies raised their share of renewable electricity from 23% to 39% in just one year, aligning with national efforts to promote rooftop solar, hybrid energy projects, and solar parks across multiple states.

However, companies report high costs and limited availability as the most common challenges. Regulatory complexity, particularly at the state level, continues to hamper procurement. Many companies rely on green open access policies or contracts with suppliers; however, PPA uptake remains limited.

The average age of facilities for renewable energy is 11 years, indicating room for improvement. RE100 has launched state-level working groups to advocate clearer, more enabling policies. These efforts are crucial, as India plays a central role in global supply chains and will be significantly impacted by carbon border adjustment mechanisms emerging in Europe and the UK.

Source: RE100

Mercom has written about how energy-intensive industries in India are switching to clean energy through the open access model to meet their clean energy mandates and lower their power bills. Industries such as iron and steel, cement, petrochemicals, chemicals, and other metals drive demand for open access solar to optimize costs and meet sustainability goals, primarily through group captive and open access models.

The IT and data center industry is also emerging as a key adopter, leveraging solar-plus-storage to achieve reliable and clean energy, as well as net-zero targets.

North America

North America still leads in renewable procurement transparency and performance. Nearly 80% of electricity consumption reported by RE100 companies is tied to facilities with known commissioning dates. PPA adoption remains the strongest in this region, driven by prominent retail, technology, and manufacturing companies.

The share of recognized renewable electricity dropped from 72% to 70%; this was largely due to increased total consumption and the addition of new members still developing their procurement strategies.

Infrastructure delays and permitting remain the primary barriers to expansion. Companies also cite challenges in connecting new projects and navigating utility regulations. Still, supportive state policies and federal incentives, including provisions from the Inflation Reduction Act, will likely accelerate deployment in the coming years.

PPA prices for renewable energy remained largely stable across North America in the first quarter of 2025, according to LevelTen’s Market-Averaged Continental Index.

New Technical and Reporting Standards

RE100 is introducing significant changes to its technical criteria, effective for disclosures beginning in 2027. Electricity generated through co-firing of coal and biomass will no longer count toward renewable targets. This decision reflects evidence that such practices can entrench fossil fuel use rather than displace it.

Additionally, all claims must be supported by canceled energy attribute certificates. This requirement will improve consistency, comparability, and alignment with evolving greenhouse gas accounting frameworks, including upcoming revisions to the Greenhouse Gas Protocol’s Scope 2 rules.

RE100 will continue to track contract lengths and purchasing arrangements but will retain its current procurement-type definitions.