Renewable electricity is becoming increasingly accessible for companies striving to meet their sustainability goals. They can either generate it themselves or procure it from third-party providers. There are seven options a chemical company can use to obtain renewable electricity, such as owned on-site generation, owned off-site generation, on-site Power Purchase Agreements (PPAs) / operating leases, traditional PPA, synthetic PPA, utility products / green tariffs, and unbundled Renewable Energy Certificates (RECs). Each of these options is unique and is designed to meet the varying needs of companies. This variety allows businesses to choose the most appropriate method for integrating renewable energy based on their financial, operational, and sustainability goals. Below, we will discuss the benefits and limitations of these options.
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