Colorado State University (CSU) has a goal of 100 percent renewable electricity by 2030, and this week the university says it got “20 steps closer,” thanks to its partnership with Namaste Solar, Solaris Energy and Standard Solar.
Over a two-year period starting in 2020 …
- Namaste Solar, an employee-owned cooperative co-developed, designed and constructed the 4.25 MWdc of solar capacity across 20 sites on four CSU campuses in Fort Collins.
- Solaris Energy, a fellow Colorado based Certified B Corporation, co-developer and initial owner of the project, provided the legal structuring, financing and development oversight to make the project a reality.
- Standard Solar, a national leader in development, funding, operation and ownership of commercial and community solar, is the project’s long-term owner and operator.
CSU will receive solar electricity through a long-term Power Purchase Agreement. This fixes the solar electricity rate charge to CSU for 28 years, providing a hedge against the rising price of fossil fuel electricity.
CSU will retain ownership of Renewable Energy Credits (RECs) attributed to the new systems, which will allow the portfolio of projects to be a major contributor toward CSU’s commitment to 100% renewable electricity by 2030 and carbon neutrality by 2040.
Combined, the systems will use 10,628 total panels and are expected to annually produce the equivalent of powering 827 homes with solar electricity throughout the system’s decades-long lifetime.