Rick Anderson, senior director of NextEra’s Green Marketing Group, is crafting a marketing strategy to move Renewable Energy Certificates (REC) on the voluntary market by demonstrating the added value of the company’s EarthEra RECs. NextEra not only markets RECs, but also funds the construction of renewable energy projects. Anderson is seeking to expand the EarthEra program and brand. While there has been some good responses to EarthEra RECs, there have also been setbacks. Demand for RECs is decreasing. The end of federal incentives for renewable energy projects, the 2008 financial crisis, and a rejection of federal RPS legislation have depressed the market for voluntary RECs. Anderson’s challenge is to find the right strategy to expand the EarthEra REC program in the midst of these difficulties. This case was written by graduate students Jenna Agins, Rajat Bhatia, Andrea Cunningham, Natalie George, Daniel Gonzalez-Kreisberg, and Jonathan Mattson, under the supervision of Professor Andrew Hoffman.
NextEra Energy
by: Andrew Hoffman
Publication Date: June 11, 2012
Length: 18 pages
Product ID#: 1-429-232
Core Disciplines: Marketing/Sales, Sustainability
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Description
Teaching Objectives
After reading and discussing the material, students should:
- Identify which markets NextEra should target with its EarthEra RECs.
- Indicate the type of firms NextEra should focus on within these markets.
- Explain which persons within these organizations should be the contact initiation points for marketing efforts.
- Explore whether NextEra should keep a very narrow marketing focus, or cast a wider net.