Johns Hopkins University is at the forefront of institutions recognizing that self-generating clean electric power is the wave of the future.
Richmond, VA and Louisville, CO (PRWEB) May 07, 2012
The Johns Hopkins University has teamed with leading solar energy development companies Eastlight Renewable Ventures (Eastlight) and RGS Energy to self-generate solar electricity, the companies announced today. This partnership is the University’s first solar energy generation project.
Johns Hopkins University recently brought online an 818 kW solar photovoltaic (PV) system on seven buildings on three of its campuses across Baltimore. Together these systems represent one of the largest university rooftop solar arrays in the country and the largest array in Baltimore City, MD.
Eastlight developed this project and owns the systems. RGS Energy planned, engineered and installed the systems. To finance the project, Eastlight executed an innovative long-term Solar Power Purchase Agreement (SPPA) that allows the University to reduce its electricity costs without making any capital investment or assuming any responsibility for managing the system.
David Caldwell, a Managing Partner at Eastlight, said, “We are very pleased to be working with Johns Hopkins, a true leader in environmental sustainability, on the development of its first solar energy projects. By utilizing a Power Purchase Agreement, we are giving the University the opportunity to generate economic and environmental value from an underutilized asset with no capital investment.”
Bill Yearsley, President of RGS Energy, the Commercial Division of Real Goods Solar, commented, "Johns Hopkins University is at the forefront of institutions recognizing that self-generating clean electric power is the wave of the future. RGS Energy's 34+ years of experience prepared us to install this large system while preserving the beauty of the University campus and protecting the integrity of its older infrastructure."
Spearheaded by the Johns Hopkins University Office of Sustainability, this project is a key initiative in the University’s strategy to reduce carbon emissions by using existing real estate to generate clean, solar electric power. The new systems are expected to generate 950,925 kilowatt-hours of power in the first year alone and to mitigate 35,457,296 pounds of carbon dioxide over the life of the system.
About RGS Energy
RGS Energy is the commercial division of Real Goods Solar, Inc. Real Goods Solar has planned, designed, installed, and serviced solar electric (photovoltaic) systems on a national commercial and residential scale since 1978. RGS Energy is a national leader in the design and construction of solar systems for the educational community. From the first public sale of solar panels in 1978 to multi-megawatt installations, the clean energy aspirations of our clients have been the driving force behind our business. With over three decades of experience, RGS Energy integrates unmatched industry expertise and engineering skill with innovative financing strategies to guide organizations to profitable energy solutions. http://www.rgsenergy.com
About Eastlight Renewable Ventures
Eastlight is a leading solar energy development company that works with educational institutions, Fortune 1000 companies, REITs, municipalities, and sports complexes. The company provides turnkey development and financing solutions for solar energy projects on multiple site types, including rooftops, ground areas and parking lots. Eastlight’s projects provide electricity savings, energy price security, and carbon reduction opportunities for site owners. For more information about Eastlight, visit http://www.eastlightventures.com.