In 2017, Renewable Choice Energy was acquired by Schneider Electric Energy & Sustainability Services. Today, the companies have reached an important milestone: the retirement of the Renewable Choice Energy brand. Going forward, the companies will be a single Renewables & Cleantech team under the Energy & Sustainability Services (ESS) banner.
In an announcement to the public, Schneider Electric said it will continue to operate as a separate legal entity, so customers may still see the Renewable Choice name or brand on formal agreements. The statement said Schneider Electric also appreciates the public’s understanding that ESS remains an autonomous (but strategic) part of the broader Schneider Electric family.
Just one year ago when the acquisition was announced, Energy Manager Today reported that the deal illustrates how the renewable sector is evolving. The integration of renewables into a commercial, industrial or other type of organization’s energy portfolio is complex, and companies can struggle with the adjustment. “Up until just a few years ago big companies viewed energy spend as [something they had] very little control over,” Renewable Choice Energy CEO Pete Dignan told Energy Manager Today.
In many cases, there was no reason to build out energy management teams or develop sophisticated strategies. Those days have passed. “With renewables below grid parity, a whole new wave has been created for procurement folks,” he said. “They need new strategies to save and make money in energy management while fulfilling their carbon-related commitments.”
Schneider Electric has long helped other entities become more energy efficient, but the company itself has also committed to efficiency. In December 2017, it announced it is committed to using 100% renewable energy for electricity by 2030. In addition, they plan to double energy productivity by 2030 against a 2005 baseline.
The 3rd Annual Environmental Leader & Energy Manager Conference takes place May 15 – 17, 2018 in Denver. Learn more here.