December 22, 2016 (Investorideas.com Newswire) The New York State Energy Research and Development Authority (NYSERDA) and Ithaca College today announced that the campus will now receive the equivalent of 10 percent of its annual electricity from solar power. The new, 2.9 megawatt solar array will produce clean, renewable power, reduce greenhouse gas emissions and help New York achieve its Clean Energy Standard that 50 percent of its electricity come from renewable energy sources by 2030.
Solar energy is a key component of Governor Andrew M. Cuomo's Reforming the Energy Vision (REV) strategy to build a cleaner, more resilient and affordable energy system for all New Yorkers.
NYSERDA President and CEO John B. Rhodes said, "The use of solar energy by Ithaca College is a model for other colleges and universities, and is vital to helping New York achieve Governor Cuomo's energy goals. I commend the college for its continued commitment to the environment and for setting an example for its students, staff and local community on the benefits of clean energy."
Ithaca College President Tom Rochon said, "I offer my thanks to our public and private partners for helping us make this project a reality. Its conception, commencement and completion serves as testament to the commitment Ithaca College has made to sustainability not just in theory, but in action."
The project uses remote net metering, which allows the college to get credit on its electricity bill over the next 25 years for excess power generated by an offsite system and fed back into the grid. The solar array consists of more than 9,000 solar panels on a 15-acre site in the Town of Seneca - approximately 40 miles from campus. The installation will generate an estimated 3.55 million kilowatt-hours of electricity in the first year of operation, the equivalent of powering 500 average-sized homes in New York. The solar panels will offset 888 metric tons of carbon dioxide annually, which is comparable to taking 187 cars off the road.
The project received $1.6 million in funding through NY-Sun, Governor Cuomo's $1 billion initiative to advance the scale-up of solar and move New York State closer to having a sustainable, self-sufficient solar industry. NYSERDA administers NY-Sun. The solar farm itself did not require any funding from Ithaca College, and the rate the college will pay per kilowatt-hour is comparable to that of its recently negotiated electricity supply contract.
"It is exciting and significant that for the next two decades, 10 percent of the electricity utilized by Ithaca College will be in the form of renewable energy as a result of this solar power purchase agreement," Timothy Carey, associate vice president of facilities said. "The important educational component of this project is equally exciting, as our students and faculty members will have an opportunity to derive learning and instructional opportunities on a prospective basis."
Solar in New York State has increased more than 730 percent between the beginning of 2012 and the end of November 2016. New York State now ranks fourth in the number of people employed in the solar industry and fifth in total annual solar installations, up from ninth in 2013.
Today's announcement complements the Southern Tier's blueprint to develop an advanced regional economy - attracting a talented workforce, growing business and driving innovation. An historic $500 million State investment in the Southern Tier through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015, is leveraging more than $2.5 billion in private investment, creating thousands of jobs and generating billions in economic activity. More information is available here.
Partners involved in this project include Greenwood Energy, Borrego Solar Systems, Inc., and OneEnergy Renewables. A groundbreaking was held in February and the project was completed this fall.
In the fall of 2009, the Ithaca College Board of Trustees approved a Climate Action Plan, committing the college to becoming 100 percent carbon neutral by 2050.
The college is a charter member of the Association for the Advancement of Sustainability in Higher Education, and has been consistently named in the Princeton Review's list of top "green" colleges.
In 2011, Ithaca College became just the second academic institution in the world to have two newly constructed buildings earn a LEED (Leadership in Energy and Environmental Design) Platinum rating from the U.S. Green Building Council when the Peggy Ryan Williams Center joined the Dorothy D. and Roy H. Park Center for Business and Sustainable Enterprise in achieving that designation. The Athletics & Events Center and Classroom Link corridor have both earned LEED Gold.
Additional information on Ithaca College's green initiatives is available at www.ithaca.edu/sustainability.
About Reforming the Energy Vision
Reforming the Energy Vision (REV) is Governor Andrew M. Cuomo's strategy to lead on climate change and grow New York's economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency, in part through the recent adoption of New York's Clean Energy Standard which requires that 50% of the state's electricity needs be generated from renewable energy sources by 2030. Already, REV has driven 600% growth in the statewide solar market, enabled over 105,000 low-income households to permanently cut their energy bills with energy efficiency, and created thousands of jobs in manufacturing, engineering, and other clean tech sectors. REV is ensuring New York State reduces statewide greenhouse gas emissions 40% by 2030 and achieves the internationally-recognized target of reducing emissions 80% by 2050. To learn more about REV, including the Governor's $5.3 billion investment in clean energy technology and innovation, please visit www.ny.gov/REV4NY and follow us at @Rev4NY.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.